Novartis will collaborate with Antares Therapeutics on small-molecule discovery against oncology targets considered “undruggable,” in a deal valued up to $1.9 billion with a $105 million upfront payment. The partnership reflects renewed big-pharma interest in target expansion programs that aim to overcome biology constraints where conventional chemistry and screening approaches have struggled to deliver druggable leads. For Antares, the agreement is its first major partnership since spinning out of Scorpion Therapeutics, and it provides funding to build multiple programs rather than a single lead asset, increasing optionality. For Novartis, the deal offers a structured pipeline entry point in small molecules at a time when competitive oncology portfolios are being refreshed with differentiated mechanisms and preclinical-to-clinical risk sharing.