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.

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.