Verastem Oncology (Nasdaq:VSTM), a biopharmaceutical company
committed to developing and commercializing new medicines for
patients battling cancer, today announced the appointments of Paul
Bunn, M.D., and Lesley Solomon to its Board of Directors, adding
additional strength in the areas of academic research and business
innovation.
Dr. Bunn, a Distinguished Professor of Medicine and James Dudley
Chair in Cancer Research, Division of Medical Oncology at the
University of Colorado School of Medicine, is a world-renowned
oncologist who has identified novel diagnostics and treatment
strategies to improve the outcomes of patients with cancer. Ms.
Solomon, a Venture Chair at Redesign Health, is an accomplished
business development executive who has provided leadership and
expertise to create and drive long-term revenue growth for numerous
early and growth-stage life sciences and healthcare
organizations.
“Paul’s illustrious career dedicated to improving outcomes for
cancer patients, along with his passion for clinical research,
combined with Lesley’s deep experience and track record of
identifying unmet needs in healthcare and building sustainable
innovative companies, will be tremendous additions to the Verastem
Oncology Board of Directors,” said Michael Kauffman, M.D., Ph.D.,
Lead Director of the Verastem Oncology Board. “We welcome Paul and
Lesley at an exciting time as Verastem Oncology builds on recent
successes, including U.S. Food and Drug Administration (FDA)
Breakthrough Therapy designation for the combination of VS-6766
with defactinib in recurrent low-grade serous ovarian cancer
(LGSOC), and advances its overall development program in RAS
mutated solid tumors to deliver better therapies to patients
without adequate options.”
Dr. Bunn previously served as section head of the U.S. National
Cancer Institute (NCI)-Navy Medical Oncology branch, Head of the
Division of Medical Oncology at the University of Colorado, and
Director of the University of Colorado Cancer Center. Dr. Bunn was
the President, CEO and member of the Board of Directors for the
International Association for the Study of Lung Cancer (IASLC). Dr.
Bunn also served as President and a member of the Board of
Directors for the American Society of Clinical Oncology (ASCO) and
has chaired the FDA’s Oncologic Drugs Advisory Committee. As the
author of hundreds of articles and book chapters, Dr. Bunn’s
research is well known in the cancer world focusing on novel
therapies for lung cancer. He was also the Principal Investigator
on the Specialized Program in Research Excellence in Lung Cancer
(SPORE) grant funded by the NCI to expand understanding about the
biology of the disease, as well as to find new methods of
diagnosis, prevention and treatment. He received his Bachelor of
Arts (B.A.) from Amherst College and Doctor of Medicine (M.D.) from
Weill Cornell Medical College. He completed an internship and
residency at the University of California San Francisco and
fellowship in medical oncology at the NCI.
Prior to Redesign Health, a company that builds and funds
transformative healthcare businesses, Lesley was the Chief
Innovation Officer at Dana-Farber Cancer Institute where she led
partnerships with pharmaceutical, biotech and technology companies
to bring forward new therapies for patients. She is also the
co-founder of the Food Allergy Science Initiative which works to
bring research and science together to deliver breakthroughs in
treatment and transform the lives of patients. Ms. Solomon has more
than 25 years of experience as an executive in business
development, strategy and marketing at startups, early-stage and
large companies such as the Food Network, Barnes & Noble.com,
and Yoga Works. She received her Master of Business Administration
(M.B.A.) from Harvard Business School and her Bachelor of Arts
(B.A.) in English from Cornell University.
About Verastem Oncology
Verastem Oncology (Nasdaq: VSTM) (Verastem, Inc.) is a
development-stage biopharmaceutical company committed to the
development and commercialization of new medicines to improve the
lives of patients diagnosed with cancer. Our pipeline is focused on
novel small molecule drugs that inhibit critical signaling pathways
in cancer that promote cancer cell survival and tumor growth,
including RAF/MEK inhibition and focal adhesion kinase (FAK)
inhibition. For more information, please visit
www.verastem.com.
About the VS-6766/Defactinib Combination
The combination of VS-6766 and defactinib has been found to be
clinically active in patients with KRAS mutant tumors. In an
ongoing investigator-initiated Phase 1/2 FRAME study, the
combination of VS-6766 and defactinib is being evaluated in
patients with LGSOC, KRAS mutant NSCLC and colorectal cancer (CRC).
The FRAME study was expanded to include new cohorts in pancreatic
cancer, KRAS mutant endometrioid cancer and KRAS-G12V NSCLC.
Verastem Oncology is also supporting an investigator-initiated
Phase 2 trial evaluating VS-6766 with defactinib in patients with
metastatic uveal melanoma. Verastem Oncology has initiated Phase 2
registration-directed trials of VS-6766 with defactinib in patients
with recurrent LGSOC and in patients with recurrent KRAS-G12V
mutant NSCLC as part of its RAMP (Raf And Mek
Program).
The U.S. Food and Drug Administration (FDA) granted Breakthrough
Therapy designation for the combination of Verastem Oncology’s
investigational RAF/MEK inhibitor VS-6766, with defactinib, its FAK
inhibitor, for the treatment of all patients with recurrent
low-grade serous ovarian cancer (LGSOC) regardless of KRAS status
after one or more prior lines of therapy, including platinum-based
chemotherapy.1
Forward-Looking Statements Notice
This press release includes forward-looking statements about
Verastem Oncology’s strategy, future plans and prospects, including
statements related to the potential clinical value of the
RAF/MEK/FAK combination, the potential benefits of Breakthrough
Therapy designation and the timing of commencing and completing
registration-directed trials for the RAF/MEK/FAK combination. The
words "anticipate," "believe," "estimate," "expect," "intend,"
"may," "plan," "predict," "project," "target," "potential," "will,"
"would," "could," "should," "continue," “can,” “promising” and
similar expressions are intended to identify forward-looking
statements, although not all forward-looking statements contain
these identifying words. Each forward-looking statement is subject
to risks and uncertainties that could cause actual results to
differ materially from those expressed or implied in such
statement.
Applicable risks and uncertainties include the risks and
uncertainties, among other things, regarding: the success in the
development and potential commercialization of our product
candidates, including defactinib in combination with VS-6766; the
occurrence of adverse safety events and/or unexpected concerns that
may arise from additional data or analysis or result in
unmanageable safety profiles as compared to their levels of
efficacy; our ability to obtain, maintain and enforce patent and
other intellectual property protection for our product candidates;
the scope, timing, and outcome of any legal proceedings; decisions
by regulatory authorities regarding labeling and other matters that
could affect the availability or commercial potential of our
product candidates; whether preclinical testing of our product
candidates and preliminary or interim data from clinical trials
will be predictive of the results or success of ongoing or later
clinical trials; that the timing, scope and rate of reimbursement
for our product candidates is uncertain; that third-party payors
(including government agencies) may not reimburse; that there may
be competitive developments affecting our product candidates; that
data may not be available when expected; that enrollment of
clinical trials may take longer than expected; that our product
candidates will experience manufacturing or supply interruptions or
failures; that we will be unable to successfully initiate or
complete the clinical development and eventual commercialization of
our product candidates; that the development and commercialization
of our product candidates will take longer or cost more than
planned; that we or Chugai Pharmaceutical Co., Ltd. will fail to
fully perform under the VS-6766 license agreement; that we may not
have sufficient cash to fund our contemplated operations; that we
may be unable to obtain adequate financing in the future through
product licensing, co-promotional arrangements, public or private
equity, debt financing or otherwise; that we will be unable to
execute on our partnering strategies for defactinib in combination
with VS-6766; that we will not pursue or submit regulatory filings
for our product candidates; and that our product candidates will
not receive regulatory approval, become commercially successful
products, or result in new treatment options being offered to
patients.
Other risks and uncertainties include those identified under the
heading “Risk Factors” in the Company’s Annual Report on Form 10-K
for the year ended December 31, 2020 as filed with the Securities
and Exchange Commission (SEC) on March 18, 2021 and in any
subsequent filings with the SEC. The forward-looking statements
contained in this press release reflect Verastem Oncology’s views
as of the date hereof, and the Company does not assume and
specifically disclaims any obligation to update any forward-looking
statements whether as a result of new information, future events or
otherwise, except as required by law.
_________________________________________ 1 Verastem Oncology
Press Release. Verastem Oncology Receives Breakthrough Therapy
Designation for VS-6766 with Defactinib in Recurrent Low-Grade
Serous Ovarian Cancer. May 24, 2021. Available at:
https://investor.verastem.com/news-releases/news-release-details/verastem-oncology-receives-breakthrough-therapy-designation-vs.
Accessed June 2021.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20210624005159/en/
Investors: Ajay Munshi Vice President, Corporate
Development +1 781-469-1579 amunshi@verastem.com
Sherri Spear Argot Partners +1 212-600-1902
sherri@argotpartners.com
Media: Lisa Buffington Corporate Communications +1
781-292-4205 lbuffington@verastem.com
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