Verastem in-licenses Pfizer's FAK inhibitor

Pfizer Inc. (NYSE:PFE) granted Verastem Inc. (NASDAQ:VSTM) exclusive, worldwide rights to develop and commercialize VS-6063 (formerly PF-04554878). The inhibitor of focal adhesion kinase (FAK) has completed a Phase I trial in advanced solid tumors. Pfizer will receive $1.5 million up front, as well as 192,012 Verastem shares, valued at $2 million based on Wednesday's close of $10.19. Pfizer is eligible for up to $2 million in development milestones, and up to $125 million in regulatory and commercialization milestones. The pharma is also eligible for royalties. Verastem, which made the announcement after market close, was up $0.32 on Wednesday. ...