Under the deal, GenFleet will receive $11.5M for the first oncology program, with the potential deal size for all three programs reaching $625.5M, excluding royalties. Verastem would be able to license a compound after it achieves certain Phase 1 testing milestones.
The three oncology programs target RAS pathway-driven cancers. GenFleet would retain the rights to commercialize the products in China.
Mass.-based Verastem’s lead drug candidates, avutometinib and defactinib, are in late-stage development for the treatment of various cancers.
