Financial terms and project responsibilities
Under the established terms of the agreement, Antares will receive an initial upfront payment of US$105m.
Additionally, the biotechnology firm is eligible to obtain up to US$1.8bn in further payments across the programmes.
These potential financial milestones are tied to option exercises, development progress, regulatory achievements and commercial successes.
Antares will also be entitled to receive tiered royalties on global net sales, extending up to the low double-digit range.
In terms of operational responsibilities, Antares is set to lead all research activities. The company will utilise its proprietary discovery engine on a limited number of historically undruggable targets up until option exercise.
While working on this collaboration, Antares will simultaneously continue to progress its own wholly owned and partnered portfolio of precision medicines for cancer and other serious diseases.
Adam Friedman, Chief Executive Officer of Antares, says: “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.