Verastem Oncology (VSTM) recently announced that it entered into a licensing agreement with Sanofi (SNY) to develop and commercialize their COPIKTRA in several emerging markets; these regions include Russia, Turkey, the Middle East, and Africa. In return, Verastem will collect an upfront payment of $5M and additional $42M in milestones, plus a double-digit royalty on net sales. Sanofi will have exclusive rights to develop and commercialize COPIKTRA in all oncology indications in the licensed regions.
Why Is This Important?
Sanofi is a first-rate pharma with superlative abilities in developing and commercializing