Infinity And MEI Re-evaluate Business Plans After Merger Falls Through

Infinity Pharmaceuticals, Inc. and MEI Pharma, Inc. will be considering their next steps independently after a planned merger between the cancer drug developers fell apart. The companies announced the termination of their merger agreement on 24 July, one day after MEI stockholders voted against the plan in a special meeting. The combined company would have brought together MEI’s stronger cash position with Infinity’s later-stage cancer asset, which was poised to become the merged company’s lead development candidate.

MEI announced the results of its shareholder meeting on 23 July in which investors representing 47.86% of its outstanding shares voted in favor of the proposed transaction and 51.44% were against