Aktis Oncology is a clinical-stage biopharmaceutical company developing targeted radiopharmaceuticals for cancer treatment. Aktis' core technology is a proprietary miniprotein radioconjugate platform, where small engineered polypeptides bind to proteins on tumor cell surfaces and deliver actinium-225 (225Ac), an alpha-emitting radioisotope, directly to tumors. The key design goal is deep tumor penetration, tight binding, and rapid clearance from healthy organs to minimize toxicity. Aktis' lead candidate, AKY-1189, targets Nectin-4, a protein expressed across multiple solid tumors including urothelial cancer, and entered Phase 1b trials following FDA IND clearance in April 2025, with preliminary data expected in Q1 2027. A second candidate, AKY-2519, targets B7-H3 and is expected to enter Phase 1b trials in mid-2026. Aktis deliberately avoids the two most common radiopharmaceutical targets (PSMA and SSTR2), instead pursuing novel targets it argues are underserved. The company has a discovery collaboration with Eli Lilly, under which Aktis receives upfront and milestone payments while Eli Lilly handles Phase 1 and beyond; Aktis received a $60M upfront payment and is eligible for up to $1.2B in milestones plus tiered royalties. Aktis is pre-revenue and has no approved products. It is also building its own cGMP manufacturing facility, expected online in the second half of 2026, to support the operationally complex 225Ac supply chain.