Recently, GenFleet Therapeutics Technology (Shanghai) Co., Ltd. (“GenFleet Therapeutics “) and Verastem Oncology (“Verastem,” Nasdaq Stock Code: VSTM), a Nasdaq-listed company, announced the conclusion of an exclusive licensing and early-stage collaboration agreement. Verastem will act as the exclusive partner and obtain the global development and commercialization rights outside Greater China (including Mainland China, Hong Kong, Macao, and Taiwan) for three innovative therapies developed by GenFleet Therapeutics, led by RAS pathway-targeted drugs.

Pursuant to the agreement, Verastem will pay GenFleet Therapeutics a prepayment of USD 11.5 million for the first collaboration project, including upfront payments, research and development support, and option fees. Upon GenFleet Therapeutics’ achievement of specific milestones for each product in the agreement, Verastem shall have the right to exercise the exclusive commercialization option for the relevant products.

GenFleet Therapeutics is eligible to receive potential subsequent milestone payments totalling over USD 625 million. Additionally, following the commercial launch of the products introduced by Verastem upon exercising its options, GenFleet Therapeutics will also receive royalties based on net sales.

M&T provided consulting services to GenFleet Therapeutics in this transaction. The project team members included partner Xiaoxing (Gavin) Guo and lawyers Xiaolin Huang and Xu Hong.

About GenFleet Therapeutics

GenFleet Therapeutics is a globally positioned, clinical-stage, innovative drug development company focused on addressing high unmet clinical needs in oncology and immune-related diseases. Centerd on disease biology mechanisms and clinical translational medicine, it has built and leveraged the advantages of its independent and integrated R&D system, targeting innovative targets and indications that have not yet been clinically validated, and owns global proprietary intellectual property rights.

Since its establishment in 2017, GenFleet Therapeutics has established a pipeline of more than ten self-developed “global new” macromolecular drugs and small molecule drugs. Multiple products have entered global multi-center clinical trials in China (including the Taiwan region), Europe, the United States, and Australia.

About Verastem

Oncology Verastem Oncology (Nasdaq Stock Code: VSTM) is committed to the development of innovative drugs with the mission of improving the quality of life for cancer patients. The company focuses on the development of novel antitumor small-molecule medicines, which inhibit key signalling pathways in tumor tissues to suppress the survival of cancer cells and tumor growth. Its current main pipeline includes RAF/MEK inhibitors and FAK inhibitors.

M&T Life Sciences and Healthcare Industry Committee

The M&T Life Sciences and Healthcare Industry Committee (“Life Sciences Committee”) specializes in legal services and cutting-edge research across the entire life sciences and healthcare industry chain, including drug research and development, clinical trial research, drug manufacturing, biotechnology, medical devices, and medical services. It provides legal services to research institutions, manufacturing enterprises, sales companies, medical institutions, and investment institutions in these fields, covering intellectual property rights, financing and investment, mergers and acquisitions, cross-border drug research and development and transactions, employee incentives and human resource integration, compliance, anti-unfair competition and trade secret protection, listing, antimonopoly, and other areas.

The Life Sciences Committee comprises several partners, lawyers, and patent agents with backgrounds in biochemistry and law. Its members have previously served in top-tier domestic and international law firms, government departments, courts, enterprises, and research institutions. The Life Sciences Committee is committed to providing one-stop, comprehensive, and full-cycle legal services to clients in the life sciences sector.