Press release
Verastem Oncology Enters Discovery and Development Collaboration with GenFleet Therapeutics to Advance New Programs Targeting RAS Pathway-Driven Cancers
Synergistic Collaboration Based on Strengths of Verastem Oncology’s Pipeline and Development Expertise and GenFleet Therapeutics’ Discovery Capabilities
About this update from Verastem, Inc.
[{"type":"text","content":"\nSynergistic Collaboration Based on Strengths of Verastem Oncology’s Pipeline and Development Expertise and GenFleet Therapeutics’ Discovery Capabilities \n\n\nExclusive Option for Verastem Oncology to License Up to Three Programs with Development and Commercialization Rights Outside China\n\n\n BOSTON--(BUSINESS WIRE)--\nVerastem Oncology (Nasdaq: VSTM) (the “Company”), a biopharmaceutical company committed to advancing new medicines for patients with cancer, today announced that the Company has entered into a discovery and development collaboration with GenFleet Therapeutics (“GenFleet”) to advance three oncology discovery programs targeting RAS pathway-driven cancers.\n\n\nThe collaboration, which builds on the strengths of both Companies in oncology small molecule drug development, enables Verastem Oncology to partner its clinical development and regulatory expertise with GenFleet’s accomplished discovery capabilities. This includes Verastem Oncology’s experience and established network of collaborators, including scientific and clinical experts in RAS biology and RAS pathway-dependent cancers and GenFleet’s accomplishments with its KRAS G12C inhibitor program. The risk-sharing structure of the collaboration is designed to allow Verastem Oncology the flexibility of a milestone-based option to license up to three compounds. The licenses would give Verastem Oncology development and commercialization rights outside of China while GenFleet would retain development and commercialization rights inside of China.\n\n\n“With the aim of bringing needed therapies to patients where there is high unmet medical need, we are looking forward to working with GenFleet on this important discovery and development collaboration,” said Dan Paterson, President and Chief Executive Officer of Verastem Oncology. “This synergistic collaboration augments our research and development pipeline in alignment with our strategy and expertise in RAS pathway-driven cancers. It also may enable new combinations with our lead assets avutometinib and defactinib.”\n\n\n\"We are pleased to reach an agreement with Verastem Oncology to develop multiple products based on GenFleet's proprietary discovery platform and our extensive experience in developing RAS inhibitors. Both Companies have already achieved significant clinical breakthroughs in RAS pathway-driven cance...