UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT
Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

 

Date of report (Date of earliest event reported):  December 12, 2014

 

Verastem, Inc.

(Exact Name of Registrant as Specified in Charter)

 

Delaware

 

001-35403

 

27-3269467

(State or Other Jurisdiction
of Incorporation)

 

(Commission
File Number)

 

(IRS Employer
Identification No.)

 

117 Kendrick Street, Suite 500, Needham, MA

 

02494

(Address of Principal Executive Offices)

 

(Zip Code)

 

Registrant’s telephone number, including area code:  (781) 292-4200

 

 

(Former Name or Former Address, if Changed Since Last Report)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

 

o            Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

o            Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

o            Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

o            Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 

 



 

Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

 

On December 12, 2014, Verastem, Inc. (the “Company”) appointed Daniel Paterson as its Chief Operating Officer, effective as of December 12, 2014.

 

Mr. Paterson, 53, has served as the Company’s Chief Business Officer since July 2013 and as its Vice President, Head of Corporate Development and Diagnostics from March 2012 until July 2013. Prior to March 2012, Mr. Paterson was a consultant to the Company beginning in 2011. From 2009 through 2010, Mr. Paterson was the COO of On-Q-ity. Mr. Paterson was the President and CEO of The DNA Repair Company from 2006 until 2009, when it was acquired by On-Q-ity. Previously, Mr. Paterson held senior level positions at IMS Health, CareTools, OnCare and Axion.

 

A copy of the press release announcing Mr. Paterson’s appointment is filed as Exhibit 99.1 hereto.

 

Item 9.01 Financial Statements and Exhibits.

 

See Exhibit Index attached hereto.

 

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SIGNATURE

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

 

VERASTEM, INC.

 

 

 

 

Date: December 18, 2014

By:

/s/ John B. Green

 

 

John B. Green

 

 

Chief Financial Officer

 

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EXHIBIT INDEX

 

Exhibit No.

 

Description

99.1

 

Press Release issued by Verastem, Inc. on December 18, 2014

 

4


Exhibit 99.1

 

 

Verastem Appoints Daniel Paterson as Chief Operating Officer

 

BOSTON, MA — December 18, 2014 — Verastem, Inc. (NASDAQ: VSTM), focused on discovering and developing drugs to treat cancer by the targeted killing of cancer stem cells, today announced that Daniel Paterson, Chief Business Officer, has been appointed to the role of Chief Operating Officer, effective December 12, 2014.

 

“On behalf of the Board of Directors and the entire management team, we wholeheartedly congratulate Dan on his promotion to Chief Operating Officer,” said Robert Forrester, Verastem President and Chief Executive Officer. “Dan has been instrumental in building a promising portfolio of product candidates; including our lead product VS-6063 which is in development in 12 countries. We look forward to his continued contributions in his new role.”

 

“We have made significant progress in recent years, and we look forward to further building on this momentum as we execute our ongoing clinical studies for VS-6063, VS-4718 and VS-5584,” said Mr. Paterson. “Our goal is to demonstrate the clinical utility of our programs, solidify our position at the forefront of cancer stem cell research and deliver new drugs for patients with cancer worldwide.”

 

Mr. Paterson has served as the Company’s Chief Business Officer since July 2013 and as its Vice President, Head of Corporate Development and Diagnostics from March 2012 until July 2013. Prior to March 2012, he served as a consultant to Verastem from its foundation. From 2009 through 2010, Mr. Paterson was the COO of On-Q-ity following its acquisition of The DNA Repair Company where he was the CEO and President from 2006. Prior to DNA Repair, Mr. Paterson was Head of Global Strategy for Specialty Market and Patient-Level Data at IMS Health after playing a key role in the acquisition of PharMetrics by IMS Health as VP, Marketing and Corporate Development. He also served as a member of the founding management teams at CareTools, a healthcare information systems company, OnCare, an oncology physician practice management company, and Axion, an oncology pharmaceutical and clinical service firm that was acquired by Bristol Myers Squibb.

 

About Verastem, Inc.

 

Verastem, Inc. (NASDAQ:VSTM) is discovering and developing drugs to treat cancer by the targeted killing of cancer stem cells. Cancer stem cells are an underlying cause of tumor recurrence and metastasis. Verastem is developing small molecule inhibitors of signaling pathways that are critical to cancer stem cell survival and proliferation: FAK, PI3K/mTOR and Wnt. For more information, please visit www.verastem.com.

 

Forward-looking statements:

 

This press release includes forward-looking statements about the Company’s strategy, future plans and prospects, including statements regarding the development and activity of the Company’s product candidates, VS-6063, or defactinib, VS-4718 and VS-5584, and the Company’s FAK and PI3K/mTOR programs generally, the timeline for clinical development and regulatory approval of the Company’s product candidates, and the structure of the Company’s planned or pending clinical trials. 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 the Company’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 the Company will be unable to successfully complete the clinical development of its product candidates, that the development of the Company’s product candidates will take longer or cost more than planned, and that the Company’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 the Company’s Annual Report on Form 10-K for the year ended December 31, 2013 and in any subsequent SEC filings. The forward-looking statements contained in this press release reflect the Company’s current views with respect to future events, and the Company does not undertake and specifically disclaims any obligation to update any forward-looking statements.

 

Contact Verastem, Inc.

Brian Sullivan, 781-292-4214

bsullivan@verastem.com