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MEI Pharma Announces Pricing of Public Offering of Common Stock



       MEI Pharma Announces Pricing of Public Offering of Common Stock

PR Newswire

SAN DIEGO, Oct. 25, 2013

SAN DIEGO, Oct. 25, 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 priced an underwritten public offering
of 4,375,000 shares of its common stock at an offering price of $8.00 per
share, for total gross proceeds (before underwriting discount and commissions
and estimated expenses) of approximately $35 million. The Company has granted
the underwriters a 30-day option to purchase up to 656,250 additional shares
of its common stock to cover over-allotments, if any. The offering is expected
to close on October 30, 2013, subject to customary closing conditions.

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

The Company plans to use the net proceeds of the offering, together with other
available funds, to progress the clinical development programs for its drug
candidates, Pracinostat, ME-344 and PWT143, and for other general corporate
purposes.

Stifel and Cowen and Company are acting as joint book-runners for the
offering. Wedbush PacGrow Life Sciences and Roth Capital Partners are acting
as co-managers.

The securities described above are being offered pursuant to a "shelf"
registration statement previously filed and declared effective by the
Securities and Exchange Commission (SEC). The offering is being made only by
means of a prospectus supplement and accompanying base prospectus. When
available, copies of the final prospectus supplement and accompanying base
prospectus relating to the offering may be obtained from Stifel, Nicolaus &
Company, Incorporated, Attention: Syndicate, One Montgomery Street, Suite
3700, San Francisco, California 94104, or by calling (415) 364-2500, or from
Cowen and Company, LLC, c/o Broadridge Financial Services, 1155 Long Island
Avenue, Edgewood, New York 11717, Attention: Prospectus Department, or by
calling (631) 274-2806, or by faxing (631) 254-7140. An electronic copy of the
prospectus supplement and accompanying base prospectus relating to the
offering will also be available on the website of the SEC at www.sec.gov.

This release does not constitute an offer to sell, or the solicitation of an
offer to buy, nor shall there be any sale of these securities in any
jurisdiction in which such offer, solicitation, or sale would be unlawful
prior to registration or qualification under the securities laws of any such
jurisdiction.

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). The Company initiated a
randomized, placebo-controlled Phase II trial of Pracinostat in combination
with Vidaza (azacitidine) in patients with previously untreated MDS in June
2013. An open-label Phase II trial of Pracinostat in combination with Vidaza
in elderly patients with AML who are unsuitable for intensive chemotherapy is
expected to initiate in the fall of 2013. MEI Pharma is also developing
ME-344, a mitochondrial inhibitor derived from its isoflavone-based technology
platform. Results from a first-in-human, single-agent clinical study of ME-344
in patients with refractory solid tumors were presented in October 2013. In
September 2013, the Company further expanded its pipeline of drug candidates
with the acquisition of PWT143, a highly selective PI3-kinase delta inhibitor.
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, (858) 792-3729, pdespain@meipharma.com
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