Antares Therapeutics Launches with $177M to Tackle ‘Undruggable’ Targets After Scorpion Spinout

Antares Therapeutics, a spinoff from Scorpion Therapeutics, has launched with $177 million in Series A financing to advance preclinical precision medicine candidates targeting 'undruggable' cancer and disease targets135.

The company is led by Scorpion’s former CEO, Adam Friedman, M.D., Ph.D., and retains the executive team that helped steer Scorpion's success135.

Eli Lilly recently acquired Scorpion Therapeutics' leading PI3Kα inhibitor program for up to $2.5 billion, while Antares will drive forward the remaining pipeline, particularly three preclinical assets35.

Antares’ most advanced asset is expected to enter clinical trials next year1.

The company’s funding was co-led by Omega Funds, Atlas Venture, Lightspeed Venture Partners, BVF Partners, Cormorant Asset Management, and supported by additional investors such as Abingworth and Vida Ventures1.

Antares is also eligible to receive milestone payments and royalties from the sale of Scorpion’s other clinical programs—two next-generation EGFR inhibitors for non-small cell lung cancer—to Pierre Fabre Laboratories, which will now lead their development1.

The new biotech will focus on developing small molecules for precision oncology and other fields, leveraging technology platforms integrating cancer biology, medicinal chemistry, and data science35.

Sources:

1. https://www.fiercebiotech.com/biotech/scorpion-spinout-raises-177m-advance-preclinical-assets-after-2-clinical-programs-sold

3. https://medcitynews.com/2025/06/cancer-antares-therapeutics-scorpion-spinoff-startup-biotech-drug-discovery/

5. https://www.thepharmaletter.com/biotechnology/antares-therapeutics-launches-with-177-million-dollar-financing