Expanded deal with Kyowa could give MEI cash through drug approval

Building on a 2018 deal in Japan, MEI Pharma granted Kyowa Kirin ex-U.S. rights to its PI3Kδ inhibitor ME-401 in an expanded partnership that could shore up the San Diego-based biotech’s balance sheet through a regulatory approval.

MEI Pharma Inc. (NASDAQ:MEIP) will receive $100 million up front in Tuesday’s deal and is eligible for $582.5 million in milestones, plus royalties. The partners will co-promote the therapy in the U.S., splitting costs and profits equally...