Eli Lilly Set to Back Aktis Oncology’s Upsized $318 Million IPO

Aktis Oncology Inc. increased the size of its initial public offering by 50%, and drew interest from Eli Lilly & Co. for $100 million of shares in the listing.

The clinical-stage biotechnology company, whose backers include MPM BioImpact and Vida Ventures, upsized its IPO to 17.65 million shares from 11.78 million, according to a filing Wednesday with the US Securities and Exchange Commission. Eli Lilly is interested in acquiring the shares at the IPO price, with shares being marketed for $16 to $18 each.

At the maximum price, the IPO would raise $317.7 million, and give Aktis a market value ...