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Finance Watch: A Year After Investors Denied Infinity Merger, MEI Considers Strategic Alternatives

RAPT Cuts 40% Of Jobs As Clinical Hold Continues

 
• By Mandy Jackson

Restructuring Edition: Financial market conditions are improving, but gains have not stopped some companies from cutting costs or shutting down. MEI may wind down if it does not identify another strategic alternative and Aslan has begun to liquidate, while others have cut jobs.

Finance Watch Image
• Source: Shutterstock

MEI Pharma, Inc. said on 22 July that its board of directors unanimously agreed to hire a financial consultant that can help the company assess strategic alternatives to maximize the value of its assets for its shareholders, which could include out-licensing its research and development programs, merger and acquisition opportunities or – if no viable business development options emerge – an orderly wind down of operations.

The announcement comes one year, almost to the day, after MEI’s shareholders voted against the company’s plan to merge with similarly troubled cancer drug developer Infinity Pharmaceuticals, Inc. Infinity,...

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