Verastem Oncology announced that Dan Paterson, President and Chief Operating Officer, has been promoted to President and Chief Executive Officer (CEO). Brian Stuglik will retire from the CEO role and remain a member of the Board of Directors. These changes will be effective August 1, 2023, allowing for a smooth leadership transition.

Daniel Paterson, 62, the Company’s President and Chief Operating Officer, will be appointed to the position of President and Chief Executive Officer. Dan Paterson joined Verastem Oncology in 2011 and has served as Chief Operating Officer since 2014 and President since 2019. He has more than 30 years of experience at healthcare and biotechnology companies.

At Verastem Oncology, he spearheaded the acquisition of lead compound avutometinib and strategic direction to accelerate the program’s advancement. The combination of avutometinib and defactinib received Breakthrough Therapy Designation from the U.S. Food and Drug Administration (FDA) for recurrent low-grade serous ovarian cancer (LGSOC) and is in late-stage development. Brian Stuglik has been the CEO of Verastem Oncology since 2019 and a member of the Board of Directors since 2017.

He has been instrumental in the transformation of the organization to become a leader in the development of RAS-pathway treatments with a strong pipeline and financial position. As part of his role on the Board, he will also now be leading the Commercialization Committee.