MEI Pharm Inc buys exclusive worldwide rights to the investigational drug candidate PWT143.
M2 PHARMA-September 11, 2013-MEI Pharm Inc buys exclusive worldwide rights to the investigational drug candidate PWT143(C)2013 M2 COMMUNICATIONS
Oncology company MEI Pharma Inc (NasdaqCM:MEIP) reported on Tuesday that it has purchased the exclusive worldwide rights to the investigational drug candidate PWT143 for an undisclosed upfront payment, with no future milestone or royalty obligations.
MEI Pharma Inc has acquired the exclusive worldwide rights to PWT143 from Pathway Therapeutics Inc, a privately held pharmaceutical company.
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, added MEI Pharma Inc.
Following the purchase, MEI Pharma plans to file an Investigational New Drug (IND) application for PWT143 by the end of 2014.
This acquisition expands MEI Pharma Inc's pipeline of drug candidates, also stepping its footprints in hematologic cancers.
((Comments on this story may be sent to email@example.com))