MEI Pharma Signs a Definitive Merger Agreement with Infinity Pharmaceuticals to Advance Three Clinical Oncology Candidates
Shots:
- MEI Pharma signs a merger agreement with Infinity for an all-stock transaction forming a new company to advance 3 clinical-stage oncology drug candidates
- The combined company will have ~$100M cash balance expected to fund planned studies into mid-2025 supporting clinical data over the next 12-24mos. The merger is expected to close in mid-2023 & the combined companies will have 3 clinical-stage oncology assets i.e., Eganelisib, Voruciclib & ME-344
- Infinity will become a wholly owned subsidiary of MEI where the pre-merger MEI shareholders will own ~58.0% & pre-merger Infinity shareholders will hold ~42.0% of the outstanding equity of the combined company. The combined company is expected to be renamed & trade on the Nasdaq, initial data from the voruciclib & ME-344 trials are expected at the end of 2023
Ref: MEIPharma | Image: MEIPharma
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Neha is a Senior Editor at PharmaShots. She is passionate and very enthusiastic about recent updates and developments in the life sciences and pharma industry. She covers Biopharma, MedTech, and Digital health segments along with different reports at PharmaShots. She can be contacted at connect@pharmashots.com.
