Jack Green Joins Verastem as Chief Financial Officer

CAMBRIDGE, Mass.--(BUSINESS WIRE)--

Verastem, Inc., (VSTM) focused on discovering and developing drugs to treat cancer by the targeted killing of cancer stem cells, announced the appointment of John Jack Green as Chief Financial Officer. Mr. Green was the former Chief Financial Officer of GTC Biotherapeutics and has held multiple senior finance roles in public and private biotechnology companies over the course of his career.

Jack brings a great deal of experience in the financial management of biotechnology companies, said Henri Termeer, Lead Director of Verastem. On behalf of the entire board of directors, I welcome him and look forward to the contributions he will make.

Cancer is an affliction that we all unfortunately have to face with our family and friends, said Mr. Green. Verastem has the potential to make a meaningful impact on many lives, and I am excited to join the team to help make these new therapeutic options a reality.

Verastem has multiple programs in or entering clinical development in 2013. Verastem plans to initiate a potentially pivotal trial of lead FAK inhibitor, VS-6063, in mesothelioma midyear 2013. VS-6063 is currently being evaluated in a Phase 1/1b trial in combination with paclitaxel in patients with ovarian cancer. FAK inhibitor VS-4718 has received allowance from the FDA to initiate a Phase 1 trial in advanced solid tumors, and the dual PI3K/mTOR inhibitor VS-5584 is currently in IND-enabling studies and is expected to enter clinical development in the second half of 2013.

Jacks track record of leadership will be of tremendous value as we progress into late-stage clinical trials for our cancer stem cell-targeting compounds, said Christoph Westphal, M.D., Ph.D., Chairman and CEO of Verastem.

Mr. Green was a key member of the senior management team for On-Q-ity and oversaw the financial activities, planning, budgeting and management of commercial and banking relationships. Previously, Mr. Green was the Senior Vice President and Chief Financial Officer of GTC Biotherapeutics (formerly Genzyme Transgenics Corporation), which was spun out from Genzyme Corporation as a stand-alone public company. Mr. Green is a Certified Public Accountant (CPA) with over 30 years of financial experience, including 20 within the biotechnology industry. Mr. Green received a Masters degree in business administration from Boston University Graduate School of Management and a Bachelors degree from the College of the Holy Cross.

AboutVerastem, Inc.

Verastem, Inc. (VSTM) is discovering and developing drugs to treat cancer by the targeted killing of cancer stem cells. Cancer stem cells are an underlying cause of tumor recurrence and metastasis. Verastem is developing small molecule inhibitors of signaling pathways that are critical to cancer stem cell survival and proliferation: FAK, PI3K/mTOR and Wnt. For more information, please visit http://www.verastem.com.

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Jack Green Joins Verastem as Chief Financial Officer