Antares Therapeutics Enters Agreement with Novartis to Discover, Develop and Commercialize First-in-Class Cancer Therapies
– Multi-target collaboration will leverage Antares’ proprietary discovery engine to generate highly selective small molecule medicines against historically undruggable oncology targets –
– Antares to receive $105M upfront and is eligible for up to $1.8B in additional option exercise, development, regulatory, and commercial milestones, plus tiered royalties on global net sales –
Antares Therapeutics, Inc. (“Antares”), a biotechnology company developing first-in-class precision medicines for cancer and other serious diseases, today announced a strategic collaboration with Novartis to discover, develop and commercialize small molecule therapies against promising but historically undruggable oncology targets. The agreement underscores the productivity and breadth of Antares’ discovery capabilities, which have repeatedly delivered development candidates against targets long considered intractable.
Under the terms of the agreement, Antares will receive a $105 million upfront payment and is eligible to receive up to $1.8 billion in additional payments across programs, inclusive of option exercise, development, regulatory, and commercial milestones, as well as tiered royalties on global net sales up to the low double-digit range. Antares will lead all research and apply its proprietary discovery engine to a limited number of historically undruggable targets until option exercise. In parallel, Antares will continue to advance its wholly owned and partnered portfolio of precision medicines for cancer and other serious diseases.
