Monday, May 14, 2018

MEI Pharma Raises $75M

San Diego-based pharmaceuticals firm MEI Pharma said this morning that it has raised $75M in a private placement, from venture investment companies Vivo Capital and CAM Capital, along with New Enterprise Associates, Perceptive Advisors, The Biotechnology Value Fund, Boxer Capital of Tavistock Group, and Amzak Health, plus others. According to the publicly traded company, the new funding will go towards continued clinical development of its lead compound, MEI-401, a selective oral inhibitor of phosphatidylinositol 3-kinase. The compound is aimed at treating cancer. MEI Pharma trades as MEIP onn the Nasdaq. More information »