Antares Pharma Funding: Cancer Drug Development
- Boston-based Antares Therapeutics, a new venture focused on precision medicines for oncology and other serious diseases, has launched with $177 million in funding.
- Lilly acquired Scorpion in March for up to $2.5 billion, primarily for its advanced breast cancer drug in Phase 1/2 trials.
- Gary glick, a serial biotech entrepreneur, founded Scorpion in 2020.
Antares Therapeutics has launched wiht a considerable $177 million in funding,a move that signifies a major stride in the advancement of precision medicines. This new venture, formed from the assets of Scorpion Therapeutics after its acquisition by Eli Lilly, will play a key role in oncology treatment and other serious diseases. The funding, spearheaded by Omega Funds, Atlas Venture, and Lightspeed Venture Partners, will accelerate the process of getting new cancer drugs from the lab to the patients. Antares will leverage its expertise to develop targeted therapies, continuing partnerships with AstraZeneca and Pierre fabre. Read the full story on News Directory 3 to learn about the company’s plans for the future and when their lead programme is expected to enter clinical trials. Discover what’s next …
Antares Therapeutics Launches with $177M for Precision Cancer Medicines
Updated June 15, 2025
Boston-based Antares Therapeutics, a new venture focused on precision medicines for oncology and other serious diseases, has launched with $177 million in funding. The company is built from assets spun out of Scorpion Therapeutics following its acquisition by Eli Lilly.
Lilly acquired Scorpion in March for up to $2.5 billion, primarily for its advanced breast cancer drug in Phase 1/2 trials. The remaining assets from Scorpion were used to form Antares.
Gary glick, a serial biotech entrepreneur, founded Scorpion in 2020. the company raised $420 million to develop drugs targeting previously “undruggable” targets, integrating cancer biology, medicinal chemistry, and data science.
Antares will continue Scorpion’s existing biopharma partnerships. A 2022 alliance with AstraZeneca focuses on cancer drugs targeting transcription factors. Pierre Fabre will lead clinical development of two non-small cell lung cancer drugs under a 2023 partnership.
The company’s name comes from Antares, the brightest star in the Scorpius constellation. While the pipeline details remain undisclosed,Antares expects its lead program to enter clinical trials in 2026.
“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,” Adam Friedman, Antares chief executive, said.
Omega Funds, Atlas Venture, and Lightspeed Venture Partners co-led Antares’s Series A financing.
What’s next
Antares plans to advance its pipeline of small molecule precision medicines, with its most advanced program expected to enter clinical trials in 2026. The company will also continue to pursue partnerships to expand its reach in oncology and other serious diseases.