MEI Pharma, an oncology company focused on the clinical development of novel therapies for cancer, has acquired exclusive worldwide rights to the investigational drug candidate PWT143 from Pathway Therapeutics, a privately-held pharmaceutical company, for an undisclosed upfront payment with no future milestone or royalty obligations.

In preclinical studies, PWT143 has been found to be a potent and highly selective oral inhibitor of phosphatidylinositide 3-kinase (PI3K) delta, a molecular target shown to play a critical role in the proliferation and survival of hematologic cancer cells. MEI Pharma anticipates filing an IND application for PWT143 by the end of 2014.