China-based GenFleet Therapeutics has entered into an exclusive licensing and early development agreement with US firm Verastem Oncology (NASDAQ: VSTM). Under the agreement, Verastem will obtain development and commercialization rights to GenFleet’s three oncology discovery programs targeting RAS pathway-driven cancers, excluding Greater China.
Financial Terms and Potential Deal Size
The agreement includes combined upfront, research support, and option payments to GenFleet totaling USD 11.5 million for the first program. The potential total deal size across all three programs could reach up to USD 625.5 million, excluding royalties, if Verastem Oncology exercises its in-license options. Additionally, GenFleet will receive royalties based on net sales following the marketing of products through Verastem’s exercise of its options.
Verastem’s Focus on RAS Pathway Mutation Therapies
Verastem, which specializes in cancer therapies targeting RAS pathway mutations, has received breakthrough therapy designation (BTD) for its avutometinib, a RAF/MEK inhibitor, in combination with defactinib, an FAK inhibitor, for the treatment of recurrent serous ovarian cancer. The company has also initiated multiple clinical trials for its avutometinib in combination with KRASG12C, EGFR, and other targets, demonstrating its commitment to advancing treatments for RAS pathway-driven cancers.-Fineline Info & Tech
