Verastem Oncology (NASDAQ: VSTM) appointed Michael P. Bailey to its board of directors, the biopharmaceutical company announced. Robert Gagnon stepped down from the board following the end of his term on May 21, 2026.

Bailey currently serves as president and chief executive officer of AVEO Pharmaceuticals, an LG Chem company, and has been on its board since January 2015. He previously held roles as chief business officer and chief commercial officer at AVEO. In 2023, Bailey led AVEO's acquisition by LG Chem.

Before AVEO, Bailey was senior vice president of business development and chief commercial officer at Synta Pharmaceuticals. He spent nine years at ImClone Systems, where he led commercial planning and the launch of ERBITUX across multiple oncology indications and drove new product planning for CYRAMZA and PORTRAZZA. He rose to senior vice president of commercial operations at ImClone.

Bailey managed the cardiovascular new products development portfolio at Genentech and began his career at SmithKline Beecham's executive marketing development program in various commercial roles including sales, strategic planning and product management.

He holds a bachelor's degree in psychology from St. Lawrence University and an MBA in international marketing from University of Notre Dame's Mendoza College of Business. Bailey completed executive education in finance at Harvard Business School and board director leadership at Wharton School of Business.

Verastem Oncology develops medicines for patients with RAS/MAPK pathway-driven cancers. The company markets AVMAPKI FAKZYNJA CO-PACK in the United States and is developing VS-7375, described as an oral KRAS G12D inhibitor.