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Financings Roundup

Verastem Files Surprise $50M IPO for Cancer Stem Cell Work

By Jennifer Boggs
Managing Editor

Friday, November 4, 2011

Year-old start-up Verastem Inc. raised eyebrows Thursday when it said it filed for an initial public offering (IPO) to raise $50 million, a bold move for the Cambridge, Mass.-based biotech given that it's at least a year away from entering the clinic with its first cancer stem cell-targeting compound.

A decade ago, no one in the sector would have batted an eye at a preclinical-stage IPO.

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