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Verastem Secures $20 Million VC Financing

Monday, November 14, 2011 5:53:00 AM PDT | VentureDeal Staff

   Cambridge, Massachusetts  --  Biotechnology company Verastem has garnered $20.1 million in new venture capital investment, according to an SEC repertory filing.

Verastem is developing new drugs that "selectively target cancer stem cells."

Investors in the financing were not disclosed, nor was how the company intends to use the funding proceeds.

On November 3, the company filed an S-1 registration statement for a proposed initial public offering (IPO) of $50 million.

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