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MEI Pharma's Mitochondrial Inhibitor Drug Candidate ME-344 Named One of Top 10 Oncology Products for 2012



MEI Pharma's Mitochondrial Inhibitor Drug Candidate ME-344 Named One of Top 10
                          Oncology Products for 2012

PR Newswire

SAN DIEGO, Nov. 19, 2012

SAN DIEGO, Nov. 19, 2012 /PRNewswire/ -- MEI Pharma, Inc. (Nasdaq: MEIP), an
oncology company focused on the clinical development of novel therapies for
cancer, announced today that its lead mitochondrial inhibitor drug candidate,
ME-344, has been named one of the Top 10 Most Licensable Oncology Products to
Watch for 2012 by Elsevier Business Intelligence and Campbell Alliance.

(Logo: http://photos.prnewswire.com/prnh/20120628/LA32362LOGO)

"We are honored to have ME-344 considered among the most attractive oncology
opportunities in the industry," said Daniel P. Gold, Ph.D., President and
Chief Executive Officer of MEI Pharma. "We believe ME-344 is a novel compound
with a unique mechanism of action that has the potential to complement
standards-of-care and significantly improve treatment outcomes for patients
with cancer. Our Phase I clinical trial of ME-344 in patients with solid
refractory tumors is nearing completion of enrollment and we look forward to
reporting its results, along with our plans for its next phase of clinical
development, during the second quarter of 2013."

Projects were selected using a set of judging criteria that included unmet
medical need, market potential, diversity of indications, strong science,
multi-level partnering opportunities (biotech and pharma), potential for new
opportunities beyond initial indications and corporate stability. Selected
projects will be presented at the Windhover Therapeutic Area Partnerships
conference in Boston on November 29, 2012. More information can be found at
www.tapartnerships.com.

About ME-344

ME-344 is MEI Pharma's lead mitochondrial inhibitor and an active metabolite
of NV-128, its first-generation compound. In April 2011, Ayesha Alvero, M.D.,
Department of Obstetrics, Gynecology and Reproductive Sciences at Yale
University School of Medicine, presented data at the American Association for
Cancer Research Annual Meeting from a pre-clinical study of NV-128
demonstrating its ability to induce mitochondrial instability, ultimately
leading to cell death in otherwise chemotherapy-resistant ovarian cancer stem
cells. These results were later published in the August 2011 issue of
Molecular Cancer Therapeutics. In additional pre-clinical studies, ME-344
demonstrated superior anti-tumor activity against a broad range of human
cancer cell lines compared to NV-128.

A Phase I trial of intravenous ME-344 in patients with solid refractory tumors
is ongoing. The trial is evaluating the safety and tolerability of intravenous
ME-344 in five escalating dose cohorts and is expected to enroll up to 24
patients. Dosing of the fourth cohort (10 mg/kg) is nearly complete; no
dose-limiting toxicities have been observed to date. Final safety and
pharmacokinetic data is expected in the second quarter of 2013.

MEI Pharma owns exclusive worldwide rights to all of its drug candidates,
including ME-344.

About MEI Pharma

MEI Pharma, Inc. (Nasdaq: MEIP) is a San Diego-based oncology company focused
on the clinical development of novel therapies for cancer. The Company's lead
drug candidate is Pracinostat, a potential best-in-class, oral histone
deacetylase (HDAC) inhibitor, which has been tested in multiple Phase I and
pilot Phase II clinical trials, including advanced hematologic malignancies
such as myelodysplastic syndrome (MDS), acute myeloid leukemia and
myelofibrosis. The Company expects to initiate a randomized Phase II trial of
Pracinostat in combination with azacitidine in patients with MDS by the second
quarter of 2013. In addition, MEI Pharma is developing two drug candidates
derived from its isoflavone-based technology platform, ME-143 and ME-344. For
more information, go to www.meipharma.com.

Under U.S. law, a new drug cannot be marketed until it has been investigated
in clinical trials and approved by the FDA as being safe and effective for the
intended use. Statements included in this press release that are not
historical in nature are "forward-looking statements" within the meaning of
the "safe harbor" provisions of the Private Securities Litigation Reform Act
of 1995. You should be aware that our actual results could differ materially
from those contained in the forward-looking statements, which are based on
management's current expectations and are subject to a number of risks and
uncertainties, including, but not limited to, our failure to successfully
commercialize our product candidates; costs and delays in the development
and/or FDA approval, or the failure to obtain such approval, of our product
candidates; uncertainties or differences in interpretation in clinical trial
results; our inability to maintain or enter into, and the risks resulting from
our dependence upon, collaboration or contractual arrangements necessary for
the development, manufacture, commercialization, marketing, sales and
distribution of any products; competitive factors; our inability to protect
our patents or proprietary rights and obtain necessary rights to third party
patents and intellectual property to operate our business; our inability to
operate our business without infringing the patents and proprietary rights of
others; general economic conditions; the failure of any products to gain
market acceptance; our inability to obtain any additional required financing;
technological changes; government regulation; changes in industry practice;
and one-time events. We do not intend to update any of these factors or to
publicly announce the results of any revisions to these forward-looking
statements.

SOURCE MEI Pharma, Inc.

Website: http://www.meipharma.com
Contact: Pete De Spain, Sr. Director, Investor Relations & Corporate
Communications, +1-858-792-3729, pdespain@meipharma.com
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