Under the terms of the agreement, Verastem will assume sole responsibility for global product development of VS-6063. Pfizer will receive an upfront payment in cash and Verastem equity, development milestones and royalties and milestones on future sales of VS-6063.

"VS-6063 accelerates Verastem's FAK inhibitor program with a clinical, Phase 2-ready product candidate targeting this key regulatory pathway for cancer stem cells," said Dr Christoph Westphal, chairman and chief executive officer of Verastem. "We believe our focus on identifying patients with a high cancer stem cell burden for treatment with our targeted therapies uniquely positions Verastem to lead the next wave of therapeutics in cancer."