<SEC-DOCUMENT>0000921895-23-002438.txt : 20231101
<SEC-HEADER>0000921895-23-002438.hdr.sgml : 20231101
<ACCEPTANCE-DATETIME>20231101171519
ACCESSION NUMBER:		0000921895-23-002438
CONFORMED SUBMISSION TYPE:	DFAN14A
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20231101
DATE AS OF CHANGE:		20231101

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			MEI Pharma, Inc.
		CENTRAL INDEX KEY:			0001262104
		STANDARD INDUSTRIAL CLASSIFICATION:	PHARMACEUTICAL PREPARATIONS [2834]
		IRS NUMBER:				510407811
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0630

	FILING VALUES:
		FORM TYPE:		DFAN14A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-41827
		FILM NUMBER:		231369191

	BUSINESS ADDRESS:	
		STREET 1:		11455 EL CAMINO REAL
		STREET 2:		SUITE 250
		CITY:			SAN DIEGO
		STATE:			CA
		ZIP:			92130
		BUSINESS PHONE:		858-369-7100

	MAIL ADDRESS:	
		STREET 1:		11455 EL CAMINO REAL
		STREET 2:		SUITE 250
		CITY:			SAN DIEGO
		STATE:			CA
		ZIP:			92130

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	MARSHALL EDWARDS INC
		DATE OF NAME CHANGE:	20030902

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Anson Funds Management LP
		CENTRAL INDEX KEY:			0001491072
		IRS NUMBER:				300134498
		STATE OF INCORPORATION:			TX
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		DFAN14A

	BUSINESS ADDRESS:	
		STREET 1:		16000 DALLAS PARKWAY
		STREET 2:		SUITE 800
		CITY:			DALLAS
		STATE:			TX
		ZIP:			75248
		BUSINESS PHONE:		214.866.0202

	MAIL ADDRESS:	
		STREET 1:		16000 DALLAS PARKWAY
		STREET 2:		SUITE 800
		CITY:			DALLAS
		STATE:			TX
		ZIP:			75248

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Frigate Ventures LP
		DATE OF NAME CHANGE:	20100504
</SEC-HEADER>
<DOCUMENT>
<TYPE>DFAN14A
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<FILENAME>dfan14a13392004_11012023.htm
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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>UNITED
STATES</B></FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>SECURITIES
AND EXCHANGE COMMISSION</B></FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Washington,
D.C. 20549</B></FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 16pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>SCHEDULE
14A</B></FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Rule
14a-101)</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; text-align: center; margin-bottom: 0">INFORMATION REQUIRED IN PROXY STATEMENT</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; text-align: center; margin-bottom: 0">SCHEDULE 14A INFORMATION</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Proxy Statement Pursuant to Section 14(a) of
the Securities Exchange Act of 1934</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">(Amendment No. )</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Filed by the Registrant &#9744;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Filed by a Party other than the Registrant &#9746;</P>

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<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">&#9744;</TD><TD>Preliminary Proxy Statement</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top"><TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">&#9744;</TD><TD>Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2))</TD></TR></TABLE>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top"><TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">&#9744;</TD><TD>Definitive Proxy Statement</TD></TR></TABLE>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top"><TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">&#9746;</TD><TD>Definitive Additional Materials</TD></TR></TABLE>



<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top"><TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">&#9744;</TD><TD>Soliciting Material Under &sect; 240.14a-12</TD></TR></TABLE>



<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;&nbsp;</P>

<P STYLE="margin-top: 0; margin-bottom: 0"></P>

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    <TD STYLE="width: 100%; text-align: center; vertical-align: top; border-bottom: Black 0.5pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">MEI PHARMA, INC.</P>
</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="text-align: center; vertical-align: top"><P>(Name of Registrant as Specified In Its Charter)</P>

</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="text-align: center; vertical-align: top; border-bottom: Black 0.5pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">CABLE CAR CAPITAL LLC</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">FUNICULAR FUNDS, LP</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">JACOB MA-WEAVER</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">ANSON INVESTMENTS MASTER FUND LP</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">AIMF GP LLC</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">ANSON EAST MASTER FUND LP</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">AEMF GP LLC</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">ANSON OPPORTUNITIES MASTER FUND LP</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">AOMF GP, LLC</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">ANSON FUNDS MANAGEMENT LP</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">ANSON MANAGEMENT GP LLC</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">ANSON ADVISORS INC.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">BRUCE R. WINSON</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">AMIN NATHOO</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">MOEZ KASSAM</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">TAHEER DATOO</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">MARK FELDBERG</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">JAMES FLYNN</P>
</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="text-align: center; vertical-align: top"><P>(Name of Persons(s) Filing Proxy Statement, if other than the Registrant)</P>

</TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Payment of Filing Fee (Check all boxes that apply):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top"><TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">&#9746;</TD><TD>No fee required</TD></TR></TABLE>



<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

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<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;&nbsp;</P>

<P STYLE="margin-top: 0; margin-bottom: 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top"><TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">&#9744;</TD><TD>Fee computed on table in exhibit required by Item 25(b) per Exchange Act Rules 14a-6(i)(1) and 0-11</TD></TR></TABLE>



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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Anson Advisors Inc., an
Ontario, Canada corporation (&ldquo;Anson Advisors&rdquo; and, together with its affiliates, &ldquo;Anson&rdquo;) and Cable Car Capital
LLC, a California limited liability company (&ldquo;Cable Car Capital&rdquo; and, together with its affiliates, &ldquo;Cable Car&rdquo;),
together with the other participants named herein, have filed a definitive consent statement and accompanying WHITE consent card with
the Securities and Exchange Commission in connection with their solicitation of written consents from stockholders in lieu of a stockholder
meeting for certain proposals (the &ldquo;Consent Solicitation&rdquo;) relating to MEI Pharma, Inc., a Delaware corporation (the &ldquo;Company&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify; text-indent: 0.5in">Item 1: Pursuant to the
Cooperation Agreement by and among the Company, Anson, Cable Car and the other entities and natural persons set forth on the signature
pages thereto (collectively, the &ldquo;Investors&rdquo;), dated as of October 31, 2023 (the &ldquo;Agreement&rdquo;), the Investors have
withdrawn their Consent Solicitation. <B>Accordingly, the Investors will not submit any written consents received from stockholders of
the Company.</B> A copy of the Agreement was filed by the Company as Exhibit 10.1 to its Form 8-K filed on November 1, 2023.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 12pt; text-align: justify; text-indent: 0.5in">Item 2: On November
1, 2023, in connection with the Agreement, the following press release was issued by the Company:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><B>MEI Pharma Enters into Agreement with Anson
Funds and Cable Car Capital</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><I>Commits to Capital Return of Up to $3.15
per Share </I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><I>Adds Three New Directors and Forms Capital
Allocation Committee of the Board</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">SAN DIEGO, TORONTO and SAN FRANCISCO <B>&ndash;</B>
MEI Pharma, Inc. (NASDAQ: MEIP) (the &ldquo;Company&rdquo;) and Anson Funds and Cable Car Capital (&ldquo;Anson and Cable Car&rdquo;)
today announced that they have entered into a cooperation agreement. Key terms of the agreement include:</P>

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<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><B>Capital Return to Stockholders: </B>The Company intends to promptly pay a dividend in the amount of
$1.75 per share of common stock to all stockholders.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">Additionally, a second return of capital of approximately
$9.33 million in the aggregate will be authorized by the Board if either (i) at least 17 patients in Cohort 1 of the Company&rsquo;s
ongoing ME-344 phase 1b study have disease progression prior to week 16 of treatment (a threshold consistent with the bar set forth in
the phase 1b clinical trial protocol needed to continue the study by enrolling Cohort 2 of the phase 1b study), or (ii) at least six
months after the date of the cooperation agreement, and prior to the initiation of Cohort 2 of the phase 1b study, the Company&rsquo;s
Board determines not to proceed with Cohort 2. This second return of capital may take the form of a dividend or tender offer, will be
subject to the proper exercise by the Board of its fiduciary duties under applicable law and is subject to modification to the extent
necessary to comply with appliable requirements under Delaware law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">&nbsp;</P>

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<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><B>Stockholder Designees Added to the Board: </B>The Company has appointed two directors designated by
Anson and Cable Car: Mr. James Flynn and Mr. Taheer Datoo. Additionally, Mr. Steven Wood, as mutually agreed upon by the Company and Anson
and Cable Car, has been appointed as an additional MEI stockholder representative designated by the Board. These appointments are effective
immediately and the new directors will be nominated for election by the Company in connection with the upcoming fiscal 2024 Annual Meeting
of Stockholders (&#8220;2024 Annual Meeting&#8221;), to serve for a three-year term if elected.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">Current MEI directors <FONT STYLE="color: #010101">Daniel P.
Gold, Ph.D., Tamar D. Howson and Sujay R. Kango have resigned from the Board</FONT> concurrently with the execution of the cooperation
agreement and will not seek reelection at the 2024 Annual Meeting. Assuming all directors nominated by the Board are elected at the 2024
Annual Meeting, the Board will continue to comprise eight directors, six of whom will be independent pursuant to the applicable stock
exchange listing standards.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">&nbsp;</P>

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<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><B>Formation of a Capital Allocation Committee: </B>MEI&#8217;s Board has formed a Capital Allocation
Committee, comprising five directors including the three new directors. The Capital Allocation Committee will advise the full Board on
the Company&#8217;s strategic allocation of capital to support (i) the development of its drug candidate programs and (ii) other value
creation or preservation measures, with a view toward maximizing stockholder value.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Additionally, as part of the cooperation agreement,
Anson and Cable Car have agreed to withdraw their consent solicitation and will vote for the Company&rsquo;s slate of director nominees
in connection with the 2024 Annual Meeting and the fiscal 2025 Annual Meeting of Stockholders. Anson and Cable Car will also abide by
customary standstill provisions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">&ldquo;Today&rsquo;s announcement reflects
our ongoing engagement with our stockholders, and we are pleased to reach an agreement that we believe is in the best interest of all
stockholders,&rdquo; said David M. Urso, president and chief executive officer of MEI Pharma. &ldquo;This agreement enables MEI to support
stockholder value by returning capital via a near-term cash dividend, with the potential for additional capital return, while allowing
us to devote resources to advance our two promising programs, voruciclib and ME-344, through key upcoming date readouts &ndash; and avoid
the costs associated with a consent solicitation and proxy contest. With important near-term data expected during the first half of 2024,
we remain focused on executing our development programs and the potential to deliver differentiated and improved therapeutic options to
cancer patients.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">&ldquo;We believe that MEI has the opportunity
to create value for stockholders by advancing its programs and judiciously returning capital to stockholders &ndash; and the agreement
we reached today is a positive step forward for MEI stockholders,&rdquo; said Moez Kassam of Anson Funds and Jacob Ma-Weaver of Cable
Car. &ldquo;We are pleased to reach this constructive resolution that we believe will add important perspectives to the Board and ensure
the Company is best positioned to maximize value for stockholders.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The complete agreement will be included as
an exhibit to a Current Report on Form 8-K, which will be filed with the Securities and Exchange Commission (&ldquo;SEC&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; background-color: white"><B>About MEI Pharma</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; background-color: white">MEI Pharma, Inc. (Nasdaq:
MEIP) is a clinical-stage pharmaceutical company committed to developing novel and differentiated cancer therapies. We build our pipeline
by acquiring promising cancer agents and creating value in programs through development, strategic partnerships,&nbsp;out-licensing&nbsp;and
commercialization, as appropriate. Our approach to oncology drug development is to evaluate our drug candidates in combinations with&nbsp;standard-of-care&nbsp;therapies
to overcome known resistance mechanisms and address clear medical needs to provide improved patient benefit. The drug candidate pipeline
includes voruciclib, an oral cyclin-dependent kinase 9 (&ldquo;CDK9&rdquo;) inhibitor, and&nbsp;ME-344,&nbsp;an intravenous small molecule
mitochondrial inhibitor targeting the oxidative phosphorylation pathway. For more information, please visit <FONT STYLE="color: #70AD47">www.meipharma.com</FONT>.
Follow us on X (formerly Twitter) @MEI_Pharma and on LinkedIn.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; background-color: white"><B>About Anson</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; background-color: white">Anson Funds is a
privately held alternative asset manager with $1.6B in assets. The firm was founded in 2007 with offices in Toronto and Dallas.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; background-color: white"><B>About Cable Car</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; background-color: white">Cable Car Capital
LLC is a registered investment adviser based in San Francisco and the general partner of Funicular Funds, LP, an investment partnership.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; background-color: white"><B>Important Information
and Where to Find It:</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; background-color: white">This statement is
neither a solicitation of a proxy nor a substitute for any proxy statement or other filings that may be made with the Securities and Exchange
Commission (the &ldquo;SEC&rdquo;). Nonetheless, the Company, its directors and/or its director nominees and certain of its executive
officers and employees may be deemed to be participants in the solicitation of&nbsp;proxies from the Company&rsquo;s stockholders in connection
with the fiscal year 2024 Annual Meeting. The Company plans to file with the SEC a proxy statement in connection with the solicitation
of such proxies.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; background-color: white">STOCKHOLDERS ARE URGED
TO READ THE FISCAL 2024 PROXY STATEMENT (INCLUDING ANY AMENDMENTS OR SUPPLEMENTS THERETO) AND ANY OTHER RELEVANT DOCUMENTS THAT THE COMPANY
WILL FILE WITH THE SEC WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; background-color: white">Additional information
regarding the identity of these potential participants and their direct or indirect interests, by security holdings or otherwise, will
be set forth in the fiscal year 2024 Proxy Statement and other materials to be filed with the SEC in connection with the fiscal year
2024 Annual Meeting. Such information can also be found in the Company&rsquo;s definitive proxy statement for the fiscal year 2023 Annual
Meeting of Stockholders, filed with the SEC on October&nbsp;27, 2022, the Company&rsquo;s Annual Report on Form&nbsp;10-K&nbsp;for the
fiscal year ended June&nbsp;30, 2023, filed with the SEC on September&nbsp;26, 2023, and in the Company&rsquo;s Current Reports on Form&nbsp;8-K&nbsp;filed
with the SEC from time to time. To the extent holdings of the Company&rsquo;s securities have changed since the amounts shown in the
definitive proxy statement for the fiscal year 2023 Annual Meeting of Stockholders, such changes have been or will be reflected on Initial
Statements of Beneficial Ownership on Form 3 or Statements of Change in Ownership on Form 4 filed with the SEC. Updated information regarding
the identities of potential participants and their direct or indirect interests, by security holdings or otherwise, in the Company will
be set forth in the fiscal year 2024 Proxy Statement and other relevant documents to be filed with the SEC, if and when they become available.
Stockholders will be able to obtain, free of charge, copies of the fiscal year 2024 Proxy Statement (including any amendments or supplements
thereto) and any other documents filed by the Company with the SEC in connection with the fiscal year 2024 Annual Meeting at the SEC&rsquo;s
website (www.sec.gov) or the Company&rsquo;s investor website at https://www.meipharma.com/investors.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; background-color: white"><B><U>Forward-Looking
Statements</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; background-color: white"><I>Certain information
contained in this press release that are not historical in nature are &ldquo;forward-looking statements&rdquo; within the meaning of the
 &ldquo;safe harbor&rdquo; provisions of the Private Securities Litigation Reform Act of 1995 including, without limitation, statements
regarding: the potential, safety, efficacy, and regulatory and clinical progress of our product candidates, including the anticipated
timing for initiation of clinical trials and release of clinical trial data and our expectations surrounding potential regulatory submissions,
approvals and timing thereof, our business strategy and plans; the sufficiency of our cash, cash equivalents and short-term investments
to fund our operations; and our ability to fund the second capital return described above. You should be aware that our actual results
could differ materially from those contained in the forward-looking statements, which are based on management&rsquo;s current expectations
and are subject to a number of risks and uncertainties, including, but not limited to our failure to successfully commercialize our product
candidates; the availability or appropriateness of utilizing the FDA&rsquo;s accelerated approval pathway for our product candidates;
final data from our&nbsp;pre-clinical&nbsp;studies and completed clinical trials may differ materially from reported interim data from
ongoing studies and trials; costs and delays in the development and/ or FDA approval, or the failure to obtain such approval, of our product
candidates; uncertainties or differences in interpretation in clinical trial results; uncertainty regarding the impact of rising inflation
and the increase in interest rates as a result; potential economic downturn; activist investors; our inability to maintain or enter into,
and the risks resulting from, our dependence upon collaboration or contractual arrangements necessary for the development, manufacture,
commercialization, marketing, sales and distribution of any products; competitive factors; our inability to protect our patents or proprietary
rights and obtain necessary rights to third party patents and intellectual property to operate our business; our inability to operate
our business without infringing the patents and proprietary rights of others; general economic conditions; the failure of any products
to gain market acceptance; our inability to obtain any additional required financing; technological changes; government regulation; changes
in industry practice; and&nbsp;one-time&nbsp;events. We do not intend to update any of these factors or to publicly announce the results
of any revisions to these forward-looking statements. Under U.S. law, a new drug cannot be marketed until it has been investigated in
clinical studies and approved by the FDA as being safe and effective for the intended use.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Contacts</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">David A. Walsey</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">858-369-7104</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">investor@meipharma.com</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Joele Frank, Wilkinson Brimmer Katcher</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Dan Katcher / Aaron Palash</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">212-355-4449</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">MEIP-jf@joelefrank.com</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

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