Verastem Oncology Names Michael Bailey CEO

Verastem Oncology, a biopharmaceutical company committed to advancing new medicines for patients with RAS/MAPK pathway-driven cancers, has appointed Michael P. Bailey as President and Chief Executive Officer (CEO), effective January 1, 2027. Bailey will also continue to serve on the Company’s Board of Directors.

The CEO transition follows the planned retirement of Daniel Paterson, who will step down as President and CEO and continue to serve on the Company’s Board of Directors and as an advisor to the Company.

“In alignment with our long-term succession plan, we are pleased to appoint Mr. Bailey as CEO to lead Verastem through its next phase of commercial growth, clinical advancement, and operational execution,” said John Johnson, chairman of the Board of Directors at Verastem Oncology. “With more than 30 years of biopharma industry experience including 25+ years of oncology drug development and commercialization experience, he brings a breadth of expertise to lead the Company forward.”

About Michael P. Bailey

Bailey is an accomplished executive with more than 30 years of experience across all aspects of the biopharmaceutical business, with significant experience in oncology, corporate strategy, commercial operations, business development, clinical development, corporate finance, and capital markets.

Bailey previously had a 16-year career with AVEO Pharmaceuticals, Inc., an LG Chem, Ltd. Company, where he served as President and Chief Executive Officer since January of 2015 after previously holding the roles of Chief Business Officer and Chief Commercial Officer.

Before AVEO, he was Senior Vice President of Business Development and Chief Commercial Officer at Synta Pharmaceuticals Corp. Earlier, Bailey spent nine years at ImClone Systems Inc. Prior to that, Bailey managed the cardiovascular new products development portfolio at Genentech after starting his industry career at SmithKline Beecham in 1992.

“It is a privilege to join Verastem at this exciting inflection point and lead the Company through the next chapter of value creation,” said Bailey. “I look forward to working with Dan, the Board, and colleagues across the organization to build on this momentum and foster an inspiring, high-performing, patient-focused culture.”