Verastem unveils new pipeline

Since its $55 million IPO in January, cancer stem cell company Verastem Inc. (NASDAQ:VSTM) has revamped its pipeline through three deals, according to a pipeline update released Thursday. Verastem said it postponed development of its preclinical Wnt inhibitor VS-507, which was one of the company's lead programs at the time of its IPO, and instead announced a deal with Eisai Co. Ltd. (Tokyo:4523; Osaka:4523) to discover next-generation small molecule Wnt inhibitors to treat cancer. Verastem will own discovered products, while Eisai has a right of first negotiation. Eisai is eligible for royalties. Details were not disclosed.

Verastem said the clinical resources that had been slated for VS-507 will now be dedicated to VS-6063, an inhibitor of focal adhesion kinase (FAK) in-licensed from Pfizer Inc. (NYSE:PFE) in a deal announced Wednesday. The product is slated to start Phase II testing in mid-2013 to treat mesothelioma. Verastem said the deal accelerates its existing FAK program by 12-18 months. Verastem's next most advanced FAK inhibitor is VS-4718, which is expected to begin Phase I testing in 1Q13 (see BioCentury, July 11). ...