Novartis and Antares Therapeutics have entered into a collaboration focused on developing small-molecule cancer therapies aimed at historically difficult-to-target oncology proteins, with the agreement including an upfront payment of $105 million and the potential for up to $1.8 billion in option fees and milestone payments.
Under the terms of the agreement, Antares will lead all research activities using its proprietary discovery platform, while Novartis will have the option to advance selected programs. The collaboration is focused on a limited number of oncology targets that have traditionally been regarded as undruggable.
Antares will apply its discovery engine, which combines covalent drug design, chemical proteomics, structure-driven computation, machine learning, screening libraries, and other drug discovery capabilities. The company will also continue working to strengthen the platform as part of the collaboration.
The agreement allows Antares to continue advancing its wholly owned and partnered programs. If Novartis exercises its options on programs generated through the partnership, Antares could receive up to $1.8 billion in option-related payments and milestones. The company would also be eligible for tiered royalties that can reach the low double-digit percentage range.
Antares was formed in 2025 as a spinout from Scorpion Therapeutics after Eli Lilly acquired Scorpion’s PI3Kα pipeline in a transaction valued at up to $2.5 billion. The company launched with $177 million in Series A financing and three of Scorpion’s preclinical precision medicine assets, while also inheriting the team and capabilities behind Scorpion’s earlier research efforts.
Prior to the Novartis agreement, Antares’ links to major pharmaceutical companies stemmed from partnerships established by Scorpion. In 2022, AstraZeneca paid Scorpion $75 million to collaborate on drug candidates targeting transcription factors. Scorpion also signed an agreement with Pierre Fabre Laboratories in 2023 that carried a potential value of up to $553 million. Pierre Fabre later acquired global rights to two Scorpion programs.
Antares is also advancing its own oncology pipeline, with its lead cancer candidate expected to enter human clinical testing this year.
Commenting on the collaboration, Antares Chief Executive Officer Adam Friedman said, “From the outset, our goal has been to build a discovery engine that systematically unlocks high-value, challenging targets and delivers first-in-class precision medicines.”
Friedman added that the partnership would enable Antares to expand the use of its platform alongside Novartis’ development capabilities and global reach.
Novartis President of Biomedical Research Fiona Marshall said many of the most promising targets in oncology have historically been considered undruggable. She stated that the company believes the collaboration could help unlock a new wave of targeted therapies and contribute to advances for patients.
The Antares agreement adds to a series of transactions completed by Novartis this year. In March, the company agreed to acquire Synnovation Therapeutics’ pan-mutant-selective PI3Kα inhibitor program for $2 billion upfront. Novartis has also entered into agreements involving Excellergy, Orionis Biosciences, SciNeuro Pharmaceuticals, and Unnatural Products.
For Antares, the collaboration provides additional funding to support its internal and partnered programs. The company launched just over a year ago with $177 million in Series A financing, and its most advanced internal program is expected to reach the clinic this year.
Novartis Announces Strategic Oncology Partnership
Novartis has entered into a landmark oncology drug discovery collaboration with Antares, a partnership valued at up to $1.9 billion. The agreement reflects Novartis’ continued commitment to expanding its oncology pipeline by working with innovative biotechnology companies developing next-generation cancer therapies.
The collaboration is expected to combine the scientific expertise of both organizations to identify and develop promising therapeutic candidates that address significant unmet medical needs in oncology.
Novartis Expands Drug Discovery Capabilities
Through this agreement, Novartis aims to strengthen its research capabilities by leveraging Antares’ proprietary drug discovery technologies and scientific platforms. By integrating complementary expertise, Novartis hopes to accelerate the identification of novel therapeutic targets and improve the efficiency of early-stage drug development.
