MEI Pharma Acquires PWT143, A Highly Selective PI3-Kinase Delta Inhibitor

  MEI Pharma Acquires PWT143, A Highly Selective PI3-Kinase Delta Inhibitor

Acquisition Expands Pipeline of Drug Candidates, Footprint in Hematologic
Cancers

PR Newswire

SAN DIEGO, Sept. 10, 2013

SAN DIEGO, Sept. 10, 2013 /PRNewswire/ --MEI Pharma, Inc. (Nasdaq: MEIP), an
oncology company focused on the clinical development of novel therapies for
cancer, announced today that it has acquired exclusive worldwide rights to the
investigational drug candidate PWT143 from Pathway Therapeutics, Inc., a
privately held pharmaceutical company, for an undisclosed upfront payment with
no future milestone or royalty obligations.

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In pre-clinical studies, PWT143 has been found to be a potent and highly
selective oral inhibitor of phosphatidylinositide 3-kinase (PI3K) delta, a
molecular target that has been shown to play a critical role in the
proliferation and survival of hematologic cancer cells. MEI Pharma anticipates
filing an Investigational New Drug (IND) application for PWT143 by the end of
2014.

"PWT143 is an exciting drug candidate with evidence of improved pre-clinical
activity compared to other PI3K delta inhibitors currently in development,"
said Daniel P. Gold, Ph.D., President and Chief Executive Officer of MEI
Pharma. "This acquisition represents another opportunity to expand our
oncology drug development pipeline under favorable terms, while growing our
footprint in hematologic cancers. We expect that it will take a minimal
investment of resources to complete the required pre-clinical studies
necessary for IND filing, which will enable us to create additional value
while maintaining our focus on executing the Phase II clinical development
plan for our lead drug candidate, Pracinostat."

"We are very proud of the discovery and pre-clinical development of PWT143 to
date," said Julie Cherrington, Ph.D., President and Chief Executive Officer of
Pathway Therapeutics. "We continue to believe strongly in its potential to be
an important drug for patients, and we are pleased that it is going into the
hands of a team with the resources and drug development expertise to maximize
that potential."

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 HDAC inhibitor
being developed for advanced hematologic diseases, such as myelodysplastic
syndrome (MDS) and acute myeloid leukemia (AML). Results from a pilot Phase II
clinical trial of Pracinostat in combination with Vidaza (azacitidine) in
patients with MDS presented at the American Society of Hematology Annual
Meeting in December 2012 showed an overall response rate of 89% (eight out of
nine). In June 2013, the Company initiated a randomized, placebo-controlled
Phase II trial of Pracinostat in combination with Vidaza in patients with
previously untreated MDS. An open-label Phase II trial of Pracinostat in
combination with Vidaza in elderly patients with AML unsuitable for induction
therapy is expected to initiate in the fall of 2013. In addition, MEI Pharma
is developing two drug candidates derived from its isoflavone-based technology
platform, ME-143 and ME-344. Results from a first-in-human Phase I trial of
ME-344 in patients with solid refractory tumors are anticipated in October
2013. 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.marshalledwardsinc.com
Contact: Pete De Spain, Sr. Director, Investor Relations & Corporate
Communications, +1-858-792-3729, pdespain@meipharma.com
 
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