BOSTON--(BUSINESS WIRE)--Jun. 14, 2016--
Verastem, Inc. (NASDAQ: VSTM), focused on discovering and developing
drugs to treat cancer, today announced several changes to the Company’s
Board of Directors. Michael Kauffman, MD, PhD, who has served as a
director since November 2012, will become Lead Director and Bruce J.
Wendel will join the Board as an independent director.
“Bruce is a proven leader whose experience building companies and
bringing oncology drugs to market will prove invaluable as we work to
unlock the potential of our pipeline,” said Robert Forrester, President
and Chief Executive Officer of Verastem. “His work in the development
and commercialization of Abraxane® as CEO of Abraxis will provide
important insight as we move forward.”
As the Company and Board transitions, Henri Termeer and Christoph
Westphal, MD, PhD, will step down from their roles as Directors.
Separately, Stephen Sherwin, MD, will transition from his role as
Director to become a member of Verastem’s Clinical and Scientific
Mr. Forrester added: “As we welcome Bruce to the Board, we also deeply
thank Christoph and Henri, both industry leaders, who helped shape our
vision and strategy, for their many years of service. We also welcome
Steve to his new role and look forward to working closely with him on
our Clinical and Scientific Advisory Board.”
“Verastem is positioned to play a leading role in oncology by enhancing
the key mechanisms that drive responses to cancer,” said Mr. Wendel.
“This science driven approach is what has attracted me to Verastem, and
I look forward to contributing to the Company’s growth and future value
creation as a Director.”
Bruce Wendel currently serves as Chief Strategic Officer of Hepalink
USA, the U.S. subsidiary of Shenzhen Hepalink Pharmaceutical Company.
Prior to Hepalink, Mr. Wendel served as Vice Chairman and Chief
Executive Officer at Abraxis BioScience, LLC where he oversaw the
development and commercialization of Abraxane®. He also led the
negotiations that culminated in the acquisition of Abraxis by Celgene in
a deal valued at over $2.9 billion. Prior to Abraxis, Mr. Wendel served
in business and corporate development roles of increasing responsibility
at American Pharmaceutical Partners, IVAX Corporation and Bristol-Myers
Squibb. He began his 14 years with Bristol-Myers Squibb as in-house
counsel before shifting to global business and corporate development. He
currently serves as a director of ProMetic Life Sciences Inc. Mr. Wendel
earned a juris doctorate degree from Georgetown University Law School,
and a B.S. from Cornell University.
About Verastem, Inc.
Verastem, Inc. (NASDAQ:VSTM) is a biopharmaceutical company focused on
discovering and developing drugs to improve outcomes for patients with
cancer. Our product candidates utilize a multi-faceted approach to treat
cancer by reducing cancer stem cells, enhancing anti-tumor immunity, and
modulating the local tumor microenvironment. Our most advanced clinical
product candidates are the Focal Adhesion Kinase inhibitors, VS-6063 and
VS-4718, and the dual PI3K/mTOR inhibitor, VS-5584. For more
information, please visit www.verastem.com.
Verastem forward-looking statements notice:
This press release includes forward-looking statements about Verastem’s
strategy, future plans and prospects, including statements regarding the
development of the Company’s product candidates and diagnostics programs
generally. The words “anticipate,” “appear,” “believe,” “estimate,”
“expect,” “intend,” “may,” “plan,” “predict,” “project,” “target,”
“potential,” “will,” “would,” “could,” “should,” “continue,” and similar
expressions are intended to identify forward-looking statements,
although not all forward-looking statements contain these identifying
words. Each forward-looking statement is subject to risks and
uncertainties that could cause actual results to differ materially from
those expressed or implied in such statement. Applicable risks and
uncertainties include the risks that the preclinical testing of
Verastem’s product candidates and preliminary or interim data from
clinical trials may not be predictive of the results or success of
ongoing or later clinical trials, that data may not be available when we
expect it to be, that enrollment of clinical trials may take longer than
expected, that our product candidates will cause unexpected safety
events, that Verastem will be unable to successfully initiate or
complete the clinical development of its product candidates, that the
development of Verastem’s product candidates will take longer or cost
more than planned, and that Verastem’s product candidates will not
receive regulatory approval or become commercially successful products.
Other risks and uncertainties include those identified under the heading
“Risk Factors” in Verastem’s Annual Report on Form 10-K for the year
ended December 31, 2015 and in any subsequent SEC filings. The
forward-looking statements contained in this press release reflect
Verastem’s current views with respect to future events, and Verastem
does not undertake and specifically disclaims any obligation to update
any forward-looking statements.
View source version on businesswire.com: http://www.businesswire.com/news/home/20160614006333/en/
Source: Verastem, Inc.
Brian Sullivan, 781-292-4214