Acquisition Expands Pipeline of Drug Candidates, Footprint in Hematologic Cancers
SAN DIEGO, CA, USA I September 10, 2013 I MEI Pharma, Inc. (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.
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. (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.
SOURCE: MEI Pharma
Post Views: 371
Acquisition Expands Pipeline of Drug Candidates, Footprint in Hematologic Cancers
SAN DIEGO, CA, USA I September 10, 2013 I MEI Pharma, Inc. (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.
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. (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.
SOURCE: MEI Pharma
Post Views: 371
