Pfizer sells developmental cancer therapy to Verastem

Pfizer has agreed a deal with Verastem that will see the latter company gain exclusive global rights to develop VS-6063, a focal adhesion kinase inhibitor with potential applications against cancer.

Under the terms of the deal, Verastem will assume sole responsibility for worldwide product development of VS-6063 in exchange for an upfront cash payment and an equity stake, as well as milestone-based fees and royalties.

The drug has completed a phase I trial showing its efficacy against advanced solid tumours, with the treatment functioning by interfering with a non-receptor tyrosine kinase that regulates cancer cell proliferation and invasion.

Garry Nicholson, president and general manager of Pfizer Oncology, said: "Verastem's specific focus on targeting cancer stem cells makes them the ideal company to continue the development of this compound."

This comes after Pfizer reported data from a clinical trial of its innovative lung cancer treatment Xalkori last month, demonstrating its safety and efficacy.