The deal's risk-sharing structure will give Verastem the flexibility of a milestone-based option to license up to three compounds. The terms of the agreement include combined upfront, research support and option payments to GenFleet of $11.5 million for the first programme, with a potential total deal size across all three programmes up to $625.5 million, excluding royalties if Verastem exercises its in-license options. In return, Verastem obtains exclusive rights for a license to each of the compounds after successful completion of pre-determined milestones in Phase I trials.
The licenses would give Verastem development and commercialisation rights outside of China while GenFleet would retain those rights within China.
Unlike other MEK inhibitorsMEK inhibitors, avutometinib is designed to block both MEK kinase activity and the ability of RAF to phosphorylate MEK. The compound, functioning as a RAF/MEK clamp, triggers the formation of inactive complexes involving MEK with ARAF, BRAF, and CRAF. According to Verastem, this process has the potential to establish "a more complete and durable anti-tumour response through maximal RAS pathway inhibition." Avutometinib, also known as VS-6766, is currently in late-stage testing.
The FDA previously granted a breakthrough therapy designation for the combination of avutometinib with VerastemVerastem's FAK inhibitor defactinibdefactinib for patients with recurrent low-grade serous ovarian cancer, regardless of KRAS status, after one or more prior lines of therapy, including platinum-based chemotherapy. The Phase III RAMP 301 trial evaluating the combination in this indication against standard care is expected to get under way in the second half of this year.