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Saturday, June 22, 2013 4:02:17 PM
SCTPF has two portfolio products. One is based on the science generated by Dr. Aaron Shimmer, a clinician scientist from the University of Toronto and Prince Margaret Hospital. In his highly awarded career he has prioritized repurposing currently marketed drugs for their activity against cancer stem cells. The company has licensed his clinical stage asset, a reformulated version of Pfizer's drug Tigecycline, for which clinical data is expected in early Q3 2013.
SCTPF's other cancer stem cell product has been developed by Dr. John Dick, Phd, who is credited with the initial identification of Leukemic Stem Cells. The product is a CD47/SIRPa fusion protein. Dr. Irving Weissman of Stanford University is working on a monoclonal antibody targeting CD47, and he has validated the target. Dr. Weissman has just received a twenty million dollar grant from the California Institute for Regenerative Medicine to continue his research. Last year a private company, Inhibrx, entered into an option and license agreement with Celgene. The deal potential is in excess of five hundred million dollars. Evidently Celgene really wanted to get access to that antibody.
Both docs are on the company SAB and follow on products are expected to be collaborated on.
Of note, the Chairman of SCTPF, David Allan, is the person that brought these two assets into this company. David was the CEO of YMI at the time it acquired an Australian company by the name of Cytopia for twelve million dollars. YMI was sold three years later for over five hundred million dollars to Gilead.
By the way, most of Verastem's valuation is based on this drug in licensed from Pfizer. This was the terms of the licensing deal.
VS-6063 in-licensed from Pfizer
In July 2012, Verastem in-licensed the worldwide commercial rights from Pfizer for the FAK inhibitor VS-6063 (PF-04554878). Pfizer received a one-time cash payment of $1.5 million and 192,012 shares of VSTM common stock.
PFE is eligible to: Receive up to $2 million in developmental milestones
• Up to $125 million should certain regulatory and commercial sales milestones be met
• High single to mid double digit royalties on future net sales of VS-6063, for 10 years
Recent VSTM News
- Form 8-K - Current report • Edgar (US Regulatory) • 05/24/2024 11:01:58 AM
- Verastem Oncology Announces the Initiation of a Rolling Submission of NDA to FDA Seeking Accelerated Approval of Avutometinib and Defactinib Combination for the Treatment of Adult Patients with Recurrent KRAS Mutant Low-Grade Serous Ovarian Cancer • Business Wire • 05/24/2024 11:00:00 AM
- Form 8-K - Current report • Edgar (US Regulatory) • 05/23/2024 09:24:02 PM
- Verastem Oncology Announces Positive Initial Interim Safety and Efficacy Results from RAMP 205 Trial Evaluating Avutometinib Plus Defactinib in Combination with Gemcitabine and Nab-paclitaxel in First-Line Metastatic Pancreatic Cancer • Business Wire • 05/23/2024 09:01:00 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 05/09/2024 08:08:56 PM
- Verastem Oncology Reports First Quarter 2024 Financial Results and Highlights Recent Business Updates • Business Wire • 05/09/2024 08:02:00 PM
- Verastem Oncology to Present at the RBC Capital Markets Global Healthcare Conference • Business Wire • 05/07/2024 11:30:00 AM
- 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
Last Shot Hydration Drink Announced as Official Sponsor of Red River Athletic Conference • EQLB • Jun 20, 2024 2:38 PM
ATWEC Announces Major Acquisition and Lays Out Strategic Growth Plans • ATWT • Jun 20, 2024 7:09 AM
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VAYK Assembling New Management Team for $64 Billion Domestic Market • VAYK • Jun 18, 2024 9:00 AM
Fifty 1 Labs, Inc Announces Acquisition of Drago Knives, LLC • CAFI • Jun 18, 2024 8:45 AM
Hydromer Announces Attainment of ISO 13485 Certification • HYDI • Jun 17, 2024 9:22 AM