Dan Paterson, Verastem Oncology CEO

Ve­rastem On­col­o­gy se­cures col­lab­o­ra­tion with Gen­Fleet Ther­a­peu­tics, po­ten­tial­ly worth up to $600M+

Ve­rastem On­col­o­gy inked a deal po­ten­tial­ly worth up to $625.5 mil­lion with Chi­nese biotech Gen­Fleet Ther­a­peu­tics that aims to move three on­col­o­gy pro­grams in­to the clin­ic.

Ve­rastem will pay Gen­Fleet $11.5 mil­lion for one pro­gram, though the deal size for all three pro­grams is worth up to $625.5 mil­lion, ex­clud­ing roy­al­ties. The deal will al­so give Gen­Fleet the de­vel­op­ment and com­mer­cial rights to those three can­di­dates in Chi­na, while Ve­rastem would get the rights for the drugs every­where else.

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