Boston, Mass. — A new biotechnology company, Antares Therapeutics, has launched with $177 million in Series A financing to develop precision medicines targeting cancer and other serious diseases. The company, a spin-out from Scorpion Therapeutics, will build on its predecessor’s scientific foundation and leadership team to advance a pipeline of small-molecule therapies, with its first product expected to enter clinical trials in 2026.
The Series A round was co-led by major healthcare investors including Omega Funds, Atlas Venture, Lightspeed Venture Partners, BVF Partners, and Cormorant Asset Management. Additional participation came from Abingworth, Invus, Tenmile, Vida Ventures, Willett Advisors, and Vinyanshu Ventures.
Antares inherits a robust research portfolio from Scorpion Therapeutics, which recently sold its PI3Kα inhibitor program, STX-478, to Eli Lilly for up to $2.5 billion. The new company will continue developing multiple programs initiated at Scorpion, including candidates from its 2022 transcription factor collaboration with AstraZeneca.
“We took our name from Antares, the brightest star in the Scorpius constellation, as a nod to our roots and our mission,” said Dr. Adam Friedman, CEO of Antares and former CEO of Scorpion. “We are leveraging deep scientific expertise and proprietary discovery tools to unlock high-impact targets, including those once considered undruggable, and to move quickly toward the clinic.”
Antares’ scientific focus is centered on first-in-class therapeutics that target key molecular drivers of disease, particularly in oncology. The company will also explore programs addressing other serious medical conditions.
Investor Otello Stampacchia, founder of Omega Funds, said Antares is well-positioned for success. “The team combines rigorous science with exceptional execution. We’ve supported them since Scorpion’s earliest days and look forward to their continued impact on unmet medical needs,” he said.
In a related development, Pierre Fabre Laboratories has acquired global rights to two clinical-stage mutant EGFR inhibitors originally developed at Scorpion. Antares will receive future regulatory and commercial milestone payments, along with tiered royalties, as Pierre Fabre takes over clinical development and commercialization.
Antares is led by a seasoned executive team that includes veterans of the biotech and pharmaceutical industries:
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Dr. Adam Friedman, Chief Executive Officer
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Dr. Mark Chao, Chief Medical Officer
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Dr. Erica Jackson, Chief Scientific Officer
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Dr. Angel Guzman-Perez, Head of Chemistry
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Dr. Natasja Brooijmans, Head of Discovery Predictive Sciences
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Dr. Darrin Stuart, Chief Development Officer
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Amanda Valentino, Chief People Officer
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Andrew Fedder, General Counsel
The company’s board includes high-profile industry leaders such as:
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Jeff Albers (Board Chair, Atlas Venture)
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Dr. Shelley Chu (Lightspeed Venture Partners)
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Dr. Keith Flaherty (Massachusetts General Hospital, Harvard Medical School)
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Dr. Jean-François Formela (Atlas Venture)
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Sir Menelas Pangalos (former EVP at AstraZeneca)
“Antares is uniquely positioned to tackle hard-to-drug targets like transcription factors,” said Sir Menelas Pangalos. “Their scientific strategy could open the door to transformative therapies.”
With its strong backing, leadership, and research capabilities, Antares Therapeutics aims to rapidly advance a new generation of precision medicines into clinical testing and, ultimately, to patients.
