Antares Therapeutics launches with $177 million financing
Boston, USA-based biotech Antares Therapeutics, launched yesterday with $177 million in Series A financing.
Antares is a spin-out of Scorpion Therapeutics, which sold its mutant-selective PI3Kα inhibitor program,STX-478, to Eli Lilly (NYSE: LLY) in March 2025 for up to $2.5 billion in total consideration. Scorpion was founded in 2020 and, in the subsequent five years, raised a total of $420 million in financing, executed partnerships with multiple pharmaceutical companies, and generated six development candidates, three of which are in clinical testing.
Antares is led by Scorpion’s former executive leadership team and is advancing a pipeline of small molecule assets developed at Scorpion, including programs in precision oncology and other therapeutic areas, as well as programs initiated through Scorpion’s 2022 transcription factor collaboration with AstraZeneca.
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