Verastem (VSTM) exercised an option early to license from GenFleet Therapeutics the investigational drug VS-7375, which is in phase 1 development in China for potential treatment of advanced solid tumors in pancreatic, colorectal and non-small cell lung cances.
A US investigational new drug application for VS-7375 is expected to be filed in Q1 with plans to start a phase 1/2a study in the middle of this year, Verastem said Tuesday in a statement.
The license gives Verastem global development and commercialization rights for VS-7375 outside of the GenFleet markets of mainland China, Hong Kong, Macau and Taiwan.
Preliminary results from a phase 1 study of VS-7375 conducted by GenFleet in China showed "partial responses, including patients with pancreatic and lung cancers," Verastem said.
GenFleet had announced 26 people were treated with VS-7375 in the phase 1 dose-escalation trial, Verastem said.
Verastem shares rose 4.1% in recent Tuesday trading.
Price: 5.56, Change: +0.22, Percent Change: +4.11
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