Antares Therapeutics has officially launched in the US with $177m in Series A funding to develop pioneering precision medicines for cancer and other critical illnesses.
The financing round was co-led by Omega Funds, Atlas Venture, Lightspeed Venture Partners, BVF Partners, and Cormorant Asset Management. Other investors include Vinyanshu Ventures, Abingworth, Invus, Tenmile, Vida Ventures, and Willett Advisors.
The biotechnology firm will focus on creating precision medicines targeting validated yet previously undruggable targets in cancer and other diseases with significant unmet needs. Its leading programme is anticipated to begin clinical trials in 2026, while several other initiatives remain in preclinical stages.
Antares is a spin-out from Scorpion Therapeutics, which recently sold its PI3Kα inhibitor programme STX-478 to Eli Lilly and Company for up to $2.5bn.
Founded in 2020, Scorpion raised $420m over five years, formed partnerships with various pharmaceutical companies, and developed six candidates, three of which are undergoing clinical testing.
Antares is led by former executives from Scorpion and is advancing a pipeline of small molecule assets initiated at Scorpion in areas such as precision oncology and others.
Antares CEO and former Scorpion CEO Adam Friedman said: “We took our name from Antares, the brightest star in the Scorpius constellation, and known as ‘the heart of the Scorpion.’ We are building from a strong foundation with a team of experts who are experienced in making new medicines, as well as proprietary drug discovery capabilities and a robust preclinical pipeline fuelled by discoveries in drugging previously inaccessible targets.
“We are committed to leveraging our expertise to address well-validated, first-in-class targets across oncology and other serious diseases, and to continuing to execute a fast-to-clinic strategy to bring medicines to patients in need.”
Furthermore, Antares disclosed an agreement with Pierre Fabre Laboratories, which has acquired global rights to two mutant EGFR inhibitors initially developed through a collaboration between Scorpion and Pierre Fabre.
These inhibitors are intended for treating non-small cell lung cancer. Pierre Fabre will manage ongoing clinical development and worldwide commercialisation of these programmes.
Antares stands to receive regulatory and commercial milestones along with tiered royalties as part of this agreement.
