Verastem in Licensing Agreement with Sanofi; Shares Up
July 25 2019 - 5:31PM
Dow Jones News
By Michael Dabaie
Verastem Inc. (VSTM) said Thursday it is in a licensing
agreement with Sanofi (SNY).
The agreement is for biopharmaceutical company Verastem's
Copiktra for the treatment of all oncology indications in Russia
and CIS, Turkey, the Middle East and Africa.
Shares were up 7% after hours to $1.40.
Verastem will receive an upfront payment of $5 million and can
receive up to an additional $42 million in development and sales
milestone payments, plus double-digit percentage royalties. Sanofi
will receive exclusive rights to develop and commercialize
Copiktra, and hold the marketing authorization and product license
for Copiktra, in the licensed territories.
Write to Michael Dabaie at michael.dabaie@wsj.com
(END) Dow Jones Newswires
July 25, 2019 17:16 ET (21:16 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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