Wednesday, September 30, 2020 9:12:46 AM
Verastem Oncology Announces Closing of COPIKTRA® (duvelisib) Sale to Secura Bio
September 30 2020 - 08:54AM
Business Wire
Verastem Now Focused on Development of VS-6766 and Defactinib Combination in Low-Grade Serous Ovarian Cancer and KRAS Mutant Non-Small Cell Lung Cancer
Registration-Directed Clinical Trials in LGSOC and KRAS Mutant NSCLC Expected to Commence by Year End 2020
Verastem, Inc. (Nasdaq:VSTM) (also known as Verastem Oncology), a biopharmaceutical company committed to advancing new medicines for patients battling cancer, today announced that it has completed the sale of Verastem's COPIKTRA (duvelisib), a marketed oral inhibitor of phosphoinositide 3-kinase (PI3K), and the first FDA-approved dual inhibitor of PI3K-delta and PI3K-gamma, to Secura Bio, Inc.
In consideration for the COPIKTRA assets, Verastem received from Secura Bio $70 million in cash. Additionally, Verastem is eligible to receive up to a total deal value of $311 million if certain regulatory and sales-based milestones are successfully met by Secura Bio and COPIKTRA’s other rest-of-world partners. Verastem will also receive low double-digit royalties on net sales over $100 million in the U.S., Europe and the United Kingdom. Secura Bio has assumed all operational and financial responsibility for COPIKTRA program activities, including commercialization efforts in the United States and Europe, ongoing clinical trials, development and commercialization partnerships with Yakult, CSPC and Sanofi and existing royalty obligations.
Verastem’s sale of COPIKTRA to Secura Bio follows Verastem’s previously announced new strategic direction focused on development of its RAF/MEK inhibitor (VS-6766) and FAK inhibitor (defactinib) program in KRAS mutant (KRASmt) solid tumors. Verastem’s first potential indications for the VS-6766 and defactinib combination will be in low-grade serous ovarian cancer (LGSOC) and KRASmt non-small cell lung cancer (NSCLC).
“This transaction delivers clear benefits for both Verastem Oncology and Secura Bio. At Verastem, we will now focus all of our efforts and resources on development of the VS-6766 and defactinib combination in LGSOC and KRASmt NSCLC,” said Brian Stuglik, Chief Executive Officer of Verastem Oncology. “The ongoing Phase 1/2 FRAME study continues to provide encouraging data and we plan to commence registration-directed clinical trials in LGSOC and KRASmt NSCLC by the end of 2020.”
MTS Health Partners, L.P and Ropes & Gray LLP acted as advisors to Verastem Oncology on this transaction.
About VS-6766
VS-6766 (formerly known as CH5126766, CKI27 and RO5126766) is a unique inhibitor of the RAF/MEK signaling pathway. In contrast to other MEK inhibitors in development, VS-6766 blocks both MEK kinase activity and the ability of RAF to phosphorylate MEK. This unique mechanism allows VS-6766 to block MEK signaling without the compensatory activation of MEK that appears to limit the efficacy of other inhibitors.
Recent VSTM News
- Verastem Oncology Announces Appointment of John Hayslip, M.D., to Chief Medical Officer • Business Wire • 04/18/2024 08:05:00 PM
- Verastem Oncology Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4) • Business Wire • 04/04/2024 11:30:00 AM
- Global Patient Survey Results Reveal Significant Negative Impact on Social, Emotional and Mental Well-Being for People Living with Low-Grade Serous Ovarian Cancer • Business Wire • 03/18/2024 11:00:00 AM
- Verastem Oncology Reports Fourth Quarter and Full Year 2023 Financial Results and Highlights Recent Business Updates • Business Wire • 03/14/2024 08:05:00 PM
- Form SC TO-I/A - Tender offer statement by Issuer: [Amend] • Edgar (US Regulatory) • 03/11/2024 09:07:54 PM
- Verastem Oncology Announces Multiple Oral Presentations at SGO 2024 Annual Meeting on Women’s Cancer that Highlight Advances in Low-Grade Serous Ovarian Cancer Research and Reinforce Commitment to Addressing Urgent Unmet Needs • Business Wire • 03/11/2024 11:30:00 AM
- Verastem Oncology Receives Orphan Drug Designation from FDA for Avutometinib Alone or in Combination With Defactinib in Recurrent Low-Grade Serous Ovarian Cancer • Business Wire • 03/05/2024 10:27:00 PM
- Verastem Oncology Announces Preclinical Presentations for New Oral G12D Inhibitor and for Avutometinib and Defactinib Combination as a Backbone of Therapy for RAS/MAPK Driven Cancers at AACR Annual Meeting 2024 • Business Wire • 03/05/2024 09:30:00 PM
- Form SC TO-I - Tender offer statement by Issuer • Edgar (US Regulatory) • 02/08/2024 09:22:55 PM
- Form SC 13G/A - Statement of acquisition of beneficial ownership by individuals: [Amend] • Edgar (US Regulatory) • 02/02/2024 02:49:16 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 01/29/2024 09:01:10 PM
- Verastem Oncology Outlines Key 2024 Strategic Priorities and Upcoming Catalysts for Advancing Avutometinib and Defactinib and Broader Pipeline in RAS Pathway-Driven Cancers • Business Wire • 01/29/2024 12:00:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 01/19/2024 12:54:28 PM
- Verastem Oncology Granted Fast Track Designation for Combination of Avutometinib and Sotorasib for the Treatment of KRAS G12C-Mutant Non-Small Cell Lung Cancer (NSCLC) • Business Wire • 01/18/2024 09:00:00 PM
- Verastem Oncology to Participate in the B. Riley Securities 4th Annual Oncology Conference • Business Wire • 01/11/2024 12:00:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 01/09/2024 09:03:59 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 01/08/2024 09:02:35 PM
- Verastem Oncology Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4) • Business Wire • 01/05/2024 12:00:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 12/28/2023 09:04:11 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 12/21/2023 09:01:15 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 12/20/2023 09:01:23 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 12/20/2023 09:00:56 PM
- Form DEF 14A - Other definitive proxy statements • Edgar (US Regulatory) • 12/19/2023 09:01:19 PM
- Verastem Oncology Selects Oral KRAS G12D Inhibitor GFH375/VS-7375 as Lead Program in Discovery and Development Collaboration with GenFleet Therapeutics • Business Wire • 12/18/2023 12:00:00 PM
- Verastem Oncology Announces Initiation of a Confirmatory Phase 3 Trial of Avutometinib and Defactinib in Recurrent Low-Grade Serous Ovarian Cancer • Business Wire • 12/13/2023 12:00:00 PM
NanoViricides Reports that the Phase I NV-387 Clinical Trial is Completed Successfully and Data Lock is Expected Soon • NNVC • May 2, 2024 10:07 AM
ILUS Files Form 10-K and Provides Shareholder Update • ILUS • May 2, 2024 8:52 AM
Avant Technologies Names New CEO Following Acquisition of Healthcare Technology and Data Integration Firm • AVAI • May 2, 2024 8:00 AM
Bantec Engaged in a Letter of Intent to Acquire a Small New Jersey Based Manufacturing Company • BANT • May 1, 2024 10:00 AM
Cannabix Technologies to Deliver Breath Logix Alcohol Screening Device to Australia • BLO • Apr 30, 2024 8:53 AM
Hydromer, Inc. Reports Preliminary Unaudited Financial Results for First Quarter 2024 • HYDI • Apr 29, 2024 9:10 AM