Atkis Oncology Secures $175M in Series B Funding

pharmaceutical

Aktis Oncology, a biotech firm focused on radiopharmaceuticals, has secured $175 million in funding following the close of a Series B funding round. The round was led by RA Capital Management with participation from RTW Investments and Janus Henderson Investors.

The company plans to use the funding to continue the development of new therapies.

“The overwhelming support from high caliber investors underscores the progress we have made on our pipeline, platform and supply chain capabilities, exemplified by the significant opportunity for AKY-1189, our first-in-class mini-protein alpha radioconjugate targeting Nectin-4 in development for several tumor types,” Matthew Roden, PhD, president and CEO of Aktis Oncology, said in a Sept. 30 announcement. “With over $300 million in cash, we are well-positioned to prosecute several opportunities to expand the benefit of this exciting modality into new patient populations.”

Atkis Oncology’s radiopharmaceutical technology offers precision targeting to deeply penetrate tumors. The precision targeting delivers alpha particles – which have 1000x the cancer-killing potency of beta particles – to the tumor, inducing double strand DNA breaks. With this approach, the company is overcoming the challenges of conventional cancer treatments – from chemotherapy to antibody drug conjugates.

Are you developing new technology for an existing application? Did you know your development work could be eligible for the R&D Tax Credit and you can receive up to 14% back on your expenses? Even if your development isn’t successful your work may still qualify for R&D credits (i.e. you don’t need to have a patent to qualify). To find out more, please contact a Swanson Reed R&D Specialist today or check out our free online eligibility test.

Who We Are:

Swanson Reed is one of the U.S.’ largest Specialist R&D tax advisory firms. We manage all facets of the R&D tax credit program, from claim preparation and audit compliance to claim disputes.

Swanson Reed regularly hosts free webinars and provides free IRS CE and CPE credits for CPAs. For more information please visit us at www.swansonreed.com/webinars or contact your usual Swanson Reed representative.

Illinois is Extending their State R&D Tax Credit

Utah Patent of the Month - May 2021

Governor JB Pritzker has signed a package of economic development legislation into law, extending their existing R&D tax credit and implementing a new tax credit for quantum computing.

The R&D tax credit will be extended to any tax year ending before January 1, 2032. Under the preexisting law, the credit could be claimed for any tax year ending before Jan. 1, 2027, according to the bill.

The state credit provides a non-refundable credit against the regular income tax for increasing research activities in Illinois in an amount equal to 6.5% of qualifying expenditures. Qualifying expenditures” means qualifying expenditures as defined for the federal credit for increasing research activities that would be allowed under IRC § 41 and that are conducted in Illinois.

Quantum Computing

The state is focused on becoming a home to quantum computing innovation by designating a “quantum campus” somewhere in the state. Businesses in that area would receive tax breaks on construction, materials purchase and use taxes, similar to an existing enterprise zone program. 

This is tied to $500 million in capital funding that was approved earlier this month as part of the state’s budget for the upcoming fiscal year. That includes $100 million in funding for construction at the site, $200 million for a cryogenic facility and $200 million in matching funds for federal grant programs. That’s on top of $200 million the state spent on quantum computing four years ago.

Are you developing new technology for an existing application? Did you know your development work could be eligible for the R&D Tax Credit and you can receive up to 14% back on your expenses? Even if your development isn’t successful your work may still qualify for R&D credits (i.e. you don’t need to have a patent to qualify). To find out more, please contact a Swanson Reed R&D Specialist today or check out our free online eligibility test.

Who We Are:

Swanson Reed is one of the U.S.’ largest Specialist R&D tax advisory firms. We manage all facets of the R&D tax credit program, from claim preparation and audit compliance to claim disputes.

Swanson Reed regularly hosts free webinars and provides free IRS CE and CPE credits for CPAs. For more information please visit us at www.swansonreed.com/webinars or contact your usual Swanson Reed representative.