Verastem Oncology out-licenses Copiktra

26 July 2019

US biotech firm Verastem Oncology (Nasdaq: VSTM) saw its shares rise 22.14% to $1.60 in pre-market trading today, in reaction to a new licensing deal for its cancer drug.

Late yesterday, the company revealed that it has entered into an exclusive licensing agreement with French pharma major Sanofi (Euronext: SAN) to develop and commercialize Verastem’s Copiktra (duvelisib), an oral inhibitor of phosphoinositide 3-kinase (PI3K), and the first approved dual inhibitor of PI3K-delta and PI3K-gamma, for the treatment of all oncology indications in Russia and the Commonwealth of Independent States (CIS), Turkey, the Middle East and Africa.

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