Aktis Oncology, a biotechnology company discovering and developing a novel class of targeted radiopharmaceuticals to treat a broad range of solid tumor cancers, announced the completion of a $72 million Series A financing.

The company was founded and incubated by MPM Capital, which co-led the financing with EcoR1 Capital and Vida Ventures, with participation from Octagon Capital, TCG Crossover, Novartis and Bristol Myers Squibb.

Aktis Oncology is developing novel alpha radiotherapies to improve upon the efficacy of conventional solid tumor therapies, while limiting toxicity. The company has developed proprietary platforms to discover best-in-class tumor targeting agents designed with optimal pharmacology for delivering alpha radiotherapy. Aktis Oncology targeting agents are highly tumor penetrant but clear from other areas of the body quickly, to maximize tumor elimination while minimizing potential side effects of treatment.