Verastem, GenFleet Collaborate To Develop Products Based On GenFleet's Discovery Platform

(RTTNews) - Verastem Oncology (VSTM) has entered into a discovery and development collaboration with GenFleet Therapeutics to advance three oncology discovery programs targeting RAS pathway-driven cancers. The collaboration provides Verastem with exclusive rights to obtain a license to each of the compounds after successful completion of pre-determined milestones in phase 1 trials. The licenses would give Verastem development and commercialization rights outside of China while GenFleet would retain development and commercialization rights inside of China.

The terms include combined upfront, research support and option payments to GenFleet of $11.5 million for the first program, with potential total deal size across all three programs up to $625.5 million excluding royalties if Verastem Oncology exercises its in-license options.

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