Verastem is advancing an investigational combination of avutometinib plus defactinib for recurrent KRAS mutant low-grade serous ovarian cancer (LGSOC). The company is preparing commercialization activities in anticipation of potential U.S. FDA approval, with a planned launch targeted for mid-2025. Verastem announced a strategic collaboration with IQVIA to leverage commercialization infrastructure and launch capabilities while retaining strategic oversight. Financially, the company secured a new note purchase credit facility for up to $150 million and an equity investment of $7.5 million from Oberland Capital Management. A portion of the proceeds will be used to fully repay and terminate an existing $42.7 million loan with Oxford Finance. Management cites the financing and IQVIA partnership as positioning the company to create commercial revenue to support its pipeline. Verastem is a private biopharmaceutical company focused on discovering and developing drugs to treat breast and other cancers by targeting cancer stem cells. The company aims to target cancer stem cells and the epithelial-to-mesenchymal transition (EMT) to address tumor recurrence, metastasis and difficult-to-treat cancers such as triple-negative breast cancer. Its pipeline includes drug candidates designed to translate cancer stem cell research into new medicines, with the first candidate projected to enter the clinic in 2012. Proceeds from its recent financing will support ongoing research and development and advance candidates into clinical development. Verastem was founded by Rich Aldrich, Michelle Dipp, Piyush Gupta, Satish Jindal, Eric Lander, Robert Weinberg and Christoph Westphal. The company is backed by venture investors including Advanced Technology Ventures, Astellas Venture Management, Bessemer Venture Partners, Cardinal Partners, Longwood Founders Fund and MPM Capital. Verastem is a Boston, MA–based biopharmaceutical company focused on discovering and developing drugs that target cancer stem cells. Its core technology is a cancer stem cell screening platform used to identify therapies across a broad range of cancers, including breast cancer. The company closed a $16M Series A financing to support its discovery and development efforts. Verastem was co-founded by Rich Aldrich, Michelle Dipp, Piyush Gupta, Satish Jindal, Eric Lander, Robert Weinberg and Christoph Westphal. A scientific advisory board that includes Julian Adams, George Daley, Daniel Haber, Yossi Schlessinger, Phil Sharp, Roger Tung, Chris Walsh and Eric Winer will advise the company as it discovers and develops new types of cancer drugs. The financing and advisory support are intended to advance its drug discovery and development programs.

Total raised

$206M

Funding rounds

4

Latest round

Equity

Latest activity

Jan 2025