105M upfront for Antares in Novartis deal

24 June 2026

In 2025, when Eli Lilly (NYSE: LLY) acquired Scorpion Therapeutics’ mutant-selective PI3Kα inhibitor program, Antares Therapeutics - a biotechnology company developing transformational, first-in-class precision medicines focused on validated, undruggable targets in cancer and other serious diseases with significant unmet need - was spun out of the deal with $177 million in Series A financing..

Today, Antares announced a collaboration with Swiss pharma giant Novartis (NOVN: VX) to discover, develop, and commercialize first-in-class small-molecule therapies targeting historically undruggable oncology targets.

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