Verastem names Michael Bailey as CEO effective January 2027

Verastem Oncology has appointed Michael P. Bailey as its new President and Chief Executive Officer, set to begin his role on January 1, 2027. Bailey, who has been on the company's Board of Directors since May 2026, replaces Daniel Paterson, who is retiring after a 35-year career in the biopharmaceutical industry. Paterson, who has been with Verastem for 15 years and served as CEO since 2023, will continue to serve on the company's Board of Directors and as an advisor post-retirement.

Under Paterson's leadership, Verastem successfully acquired and commercialized AVMAPKI FAKZYNJA CO-PACK, which received FDA approval in May 2025 for treating adult patients with KRAS-mutated recurrent low-grade serous ovarian cancer. Bailey's extensive experience in biopharmaceuticals, including over 30 years in the field and 25 years in oncology drug development and commercialization, will be crucial as Verastem evaluates VS-7375, an investigational oral KRAS G12D inhibitor, across multiple Phase 2 trials for KRAS G12D-mutant solid tumors.

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