Verastem Oncology Names Michael P. Bailey to Board of Directors
Verastem Oncology has announced the appointment of veteran biotechnology executive Michael P. Bailey to its Board of Directors, strengthening the company’s leadership team as it advances a growing portfolio of therapies targeting RAS/MAPK pathway-driven cancers. The company also confirmed that longtime board member Robert Gagnon stepped down from the Board following the conclusion of his term on May 21, 2026.
The appointment comes during a significant period of expansion for Verastem Oncology as the company continues to build commercial momentum around its oncology programs while progressing its clinical-stage pipeline. Company leadership indicated that Bailey’s extensive background in oncology commercialization, business development, and strategic growth will play an important role as Verastem transitions into its next phase of development.
Verastem President and Chief Executive Officer Daniel Paterson said the company is enthusiastic about adding Bailey to the Board because of his more than three decades of experience across the global pharmaceutical and biotechnology industries. According to Paterson, Bailey has demonstrated a strong ability to guide oncology products from clinical development through regulatory approval and commercial launch, including contributions to several major cancer therapies.
Paterson highlighted Bailey’s involvement in the commercialization of ERBITUX as an example of his experience bringing innovative oncology medicines to patients. He added that Verastem expects to benefit from Bailey’s strategic insight as the company focuses on expanding the reach of AVMAPKI® FAKZYNJA® CO-PACK while also accelerating development of VS-7375, the company’s investigational oral KRAS G12D inhibitor.
The company views VS-7375 as a potential best-in-class therapy targeting KRAS G12D-mutated cancers, an area of significant unmet medical need where approved treatment options remain limited. KRAS mutations are among the most common oncogenic drivers in human cancers, but many subtypes have historically been difficult to target with precision therapies. The development of KRAS-directed treatments has become one of the most active and competitive areas in oncology drug research in recent years.
Verastem’s leadership emphasized that Bailey’s expertise spans the full product lifecycle, from research and development strategy to commercialization and corporate growth initiatives. Board Chairman John Johnson described Bailey as an accomplished biopharmaceutical executive whose perspective would help guide Verastem as it advances both its marketed products and pipeline candidates.
Johnson also acknowledged the contributions of departing board member Robert Gagnon, thanking him for his service and leadership during his tenure on the Board. The company did not indicate any disagreements or governance concerns associated with Gagnon’s departure, describing the transition as occurring at the natural conclusion of his term.
Bailey expressed enthusiasm about joining the Board during what he described as a pivotal stage in Verastem’s evolution. He noted that the company has already established a strong business focused on serving patients with underserved rare cancers and said he believes its development pipeline could create meaningful advances for patients with difficult-to-treat tumors.
He specifically pointed to VS-7375 as a promising opportunity in KRAS G12D-mutated cancers, an area where no approved therapies currently exist. Bailey said he looks forward to supporting Verastem’s leadership team as the company continues pursuing innovation and long-term growth in precision oncology.
Bailey currently serves as President and Chief Executive Officer of AVEO Pharmaceuticals, which became part of LG Chem following an acquisition completed in 2023. He has also served on AVEO’s Board of Directors since 2015 and previously held executive leadership roles there as chief business officer and chief commercial officer.
During his tenure at AVEO, Bailey played a central role in shaping the company’s commercial strategy and corporate development activities. One of his most notable achievements came in 2023 when he helped lead AVEO’s acquisition by LG Chem, a transaction that expanded LG Chem’s presence in the global oncology market and strengthened AVEO’s access to resources for future development initiatives.
Before joining AVEO, Bailey served as senior vice president of business development and chief commercial officer at Synta Pharmaceuticals, where he contributed to strategic growth and commercialization planning. Earlier in his career, he spent nearly a decade at ImClone Systems, a period that proved especially influential in establishing his reputation within the oncology sector.
At ImClone, Bailey led commercial planning efforts surrounding the launch and expansion of ERBITUX, a monoclonal antibody therapy that became a major oncology product across multiple cancer indications. ERBITUX played a significant role in the evolution of targeted cancer therapy and became widely used in colorectal cancer and head and neck cancer treatment settings.
During his time at ImClone, Bailey also contributed to development planning for additional oncology therapies including CYRAMZA and PORTRAZZA. His responsibilities expanded over time, ultimately leading to his promotion to senior vice president of commercial operations.
Prior to ImClone, Bailey worked at Genentech, where he managed the cardiovascular new products development portfolio. His experience at Genentech exposed him to large-scale pharmaceutical innovation and strategic portfolio management, helping build the foundation for his later leadership roles in oncology commercialization.
Bailey originally began his pharmaceutical career through the executive marketing development program at SmithKline Beecham, which later became part of GlaxoSmithKline. In that program, he held a variety of commercial and strategic positions involving sales, product management, and long-range business planning.
Over the course of his career, Bailey has developed broad expertise across commercial operations, strategic planning, licensing, mergers and acquisitions, and product launches. His appointment reflects a broader trend within the biotechnology industry in which companies preparing for commercialization or late-stage pipeline expansion seek leadership from executives with extensive operational and market experience.
The addition of Bailey to Verastem’s Board also comes as the company seeks to strengthen its position within the increasingly competitive precision oncology landscape. The RAS/MAPK signaling pathway remains one of the most important targets in cancer biology, as mutations affecting this pathway are implicated in a wide range of solid tumors.
Verastem has focused much of its strategy on developing therapies for cancers driven by these molecular alterations. The company’s AVMAPKI® FAKZYNJA® CO-PACK has helped establish a commercial presence in targeted oncology, while pipeline candidates such as VS-7375 are intended to expand the company’s footprint into additional high-need cancer populations.
Interest in KRAS-targeted therapies has intensified across the oncology sector following recent scientific advances that enabled researchers to successfully drug previously “undruggable” KRAS mutations. While therapies targeting KRAS G12C mutations have already entered the market, KRAS G12D remains a particularly important target because of its prevalence in pancreatic, colorectal, and lung cancers.
Because no approved therapies currently exist specifically for KRAS G12D-mutated cancers, companies developing inhibitors against this mutation are viewed as addressing a major unmet medical need. Verastem believes VS-7375 may offer differentiated characteristics that could support its potential positioning within the evolving KRAS treatment landscape.
As the company continues to advance its pipeline and commercial operations, Bailey’s experience in oncology strategy and execution is expected to contribute to Verastem’s long-term growth initiatives. His background in guiding cancer therapies through development, launch, and market expansion aligns closely with the company’s ambitions to strengthen its role in precision medicine and targeted oncology therapeutics.
With leadership changes now in place, Verastem appears focused on balancing continued commercial execution with aggressive investment in innovation, particularly in genetically defined cancers where targeted therapies may significantly improve patient outcomes.
About Verastem Oncology
Verastem Oncology (Nasdaq: VSTM) is a biopharmaceutical company committed to developing and commercializing new medicines to improve the lives of patients diagnosed with RAS/MAPK pathway-driven cancers. Verastem markets AVMAPKI® FAKZYNJA® CO-PACK in the U.S. Our pipeline is focused on novel small molecule drugs that inhibit critical signaling pathways in cancer that promote cancer cell survival and tumor growth, including RAF/MEK inhibition, FAK inhibition, and KRAS G12D inhibition.
