[ NASDAQ: MEIP ]

Cowen and Company

Health Care Conference

March 2015

2

Forward-Looking Statements

These slides and the accompanying oral presentation contain

forward-looking statements. Actual events or results may differ

materially from those projected in any of such statements. Additional

information concerning factors that may cause actual events or

results to differ from those projected is contained in MEI Pharma’s

most recent annual report on Form 10-K and quarterly reports on

Form 10-Q, as well as other subsequent filings with the SEC.

3

MEI Pharma (Nasdaq: MEIP)

• San Diego-based oncology company focused on the clinical

development of three wholly owned drug candidates

Pracinostat: Oral HDAC inhibitor with clinical activity in MDS and AML

o Significant activity in combination with azacitidine in elderly AML

o Data from randomized Phase II MDS study expected in March 2015

ME-344: Novel mitochondrial inhibitor with single-agent activity

o Data from Phase Ib study expected in 2015

PWT143: PI3K delta inhibitor with compelling pre-clinical activity

o On track to enter clinic in 1H 2015

• Strong intellectual property protection extending past 2028 in US

• Management team with proven oncology drug development

experience

4

Management Team

EXECUTIVE MANAGEMENT

Daniel Gold, PhD

President & Chief Executive OfficerFormer Chief Scientific Officer & Founder, Favrille

Robert Mass, MD

Chief Medical OfficerFormer Head of Medical Affairs, BioOncology, Genentech

Thomas Zech

Chief Financial OfficerFormer Chief Financial Officer, Pacira Pharmaceuticals

David Urso, JD

SVP, Corporate Development & General CounselFormer Principal, Forward Ventures / COO, Tioga Pharmaceuticals

Karen Potts, PhD

SVP, Regulatory AffairsFormer SVP of Regulatory Affairs, Trius Therapeutics

BOARD OF DIRECTORS

Christine White, MD (Lead Director)Former Head of Global Medical Affairs, Biogen Idec

Charles Baltic, JDCo-Head of Healthcare, Needham & Co.

Leah Cann, MBATwo-time Wall Street Journal All-Star Analyst

Kevan Clemens, PhDFormer Head of Global Oncology, Roche

Nick Glover, PhDFormer President & CEO, YM BioSciences

Daniel Gold, PhDPresident & CEO, MEI Pharma

Thomas Reynolds, MD, PhDFormer Chief Medical Officer, Seattle Genetics

William RueckertFormer Chairman, Novogen Limited

5

DRUG CANDIDATE INDICATION / COMBINATION PRE-CLINICAL PHASE I PHASE II PHASE III

EP

IGE

NE

TIC

SP

RO

GR

AM

PracinostatHDAC Inhibitor

Myelodysplastic SyndromeFront Line, Int-2 & High-RiskAzacitidine (Vidaza®)

Acute Myeloid LeukemiaFront Line, ElderlyAzacitidine (Vidaza®)

Myelodysplastic SyndromeRefractory to HMAAzacitidine (Vidaza®) or

Decitabine (Dacogen®)

MyelofibrosisFront Line & Relapsed/RefractoryRuxolitinib (Jakafi®)

CA

NC

ER

ME

TA

BO

LIS

M

PR

OG

RA

M

ME-344Mitochondrial Inhibitor

Small Cell Lung CancerAdvanced or MetastaticTopotecan (Hycamtin®)

Ovarian CancerAdvanced or MetastaticTopotecan (Hycamtin®)

SIG

NA

LIN

G

PR

OG

RA

M

PWT143PI3K Delta Inhibitor

Hematologic Cancers

Clinical Development Pipeline

6

Pracinostat: A Differentiated HDAC Inhibitor

• Potent inhibitor of Class I, II and IV HDAC isoenzymes

• Well tolerated

Tested in 300+ adult and pediatric patients in multiple hematologic and

solid tumor Phase I and Phase II clinic trials

Manageable side effects consistent with drugs of this class include

fatigue and gastrointestinal discomfort

• Best-in-class pharmacokinetic profile, broadly active

Generation of SB991, the major and highly active in vivo metabolite of

Pracinostat, yields in vivo combined on target IC50 activity for HDAC1

predicted to be >24 hours

7

Pracinostat: Clinical Activity in MDS

• Evidence of activity in combination with azacitidine in intermediate-2

or high-risk myelodysplastic syndrome (MDS) 1

90% (9/10) CR/CRp rate in pilot study

o CR = 60% (6/10)

Rapid complete bone marrow responses observed

o 50% (5/10) achieved complete cytogenetic bone marrow response

o 50% (5/10) went on to bone marrow transplantation

1 Quintás-Cardama et al. Very high rates of clinical and cytogenetic response with the

combination of the histone deacetylase inhibitor Pracinostat (sb939) and 5-azacitidine in

high-risk myelodysplastic syndrome. 2012 ASH Annual Meeting

8

MDS Pilot Study… Three Years Later

9

Intermediate Risk-2 or High Risk MDS Patients

Previously Untreated w/ HMA

Pracinostat

+

Azacitidine

Placebo

+

Azacitidine

Phase II Study in Front Line MDS (MEI-003)

• Primary Endpoint: CR

Secondary endpoints: overall response rate, hematologic improvement,

clinical benefit rate, duration of response, progression-free survival, rate

of leukemic transformation, overall survival, safety & tolerability

• 102 evaluable patients enrolled, one-to-one randomization

• 24 sites in the U.S.

• Expect to unblind study and report top-line data in March 2015

10

Phase II Study in HMA Refractory MDS (MEI-005)

• Reached clinical milestone in December 2014

• Three responses (one PR and two marrow CRs) out of first 28

patients who received Pracinostat + HMA (azacitidine or decitabine)

after progressing on the same HMA alone

Exceeded the pre-specified response rate (two out of 29) for expansion of

study enrollment

• Combination of Pracinostat + azacitidine or decitabine generally well-

tolerated in the study with no unexpected toxicities

Most common treatment-emergent adverse events: anemia, fatigue and

gastrointestinal disorders

• Study enrollment complete (39 patients); continue to follow patients

for response and survival

One additional marrow CR to date

11

Pracinostat: Clinical Activity in AML

• Evidence of single-agent activity in elderly AML1

14% (2/14) CR rate in Phase I dose-escalation study

• Significant activity in combination with azacitidine in elderly AML2

50 patients enrolled in Phase II study at 15 sites in the U.S.

Interim data from 33 evaluable patients reported at ASH

o Primary endpoint: CR/CRi/MLFS rate = 45% (15/33) as of Dec 2014

o No patient who achieved a clinical response had progressed

1 Garcia‐Manero et al. Phase 1 Study of the Oral Deacetylase Inhibitor, SB939, in Patients

with Advanced Hematologic Malignancies. 2010 ASH Annual Meeting

2 Garcia-Manero et al. Pracinostat in Combination with Azacitidine Produces a High Rate

and Rapid Onset of Disease Remission in Patients with Previously Untreated Acute

Myeloid Leukemia. 2014 ASH Annual Meeting

12

Phase II Study in Front Line AML (MEI-004)Duration on Study and Response – ASH 2014

0 50 100 150 200 250 300

Days on Study

1stLin

e E

lderly A

ML P

atients

(N

=33) Response Based on Clinical

Review of Efficacy Data

CR

CRi

MLFS

PR/PRi

Stable Disease

Progressive Disease

Clinical Benefit –

AE/Withdrew

No Clinical Benefit –

AE/Withdrew

Time to 1st BM

Assessment for

Responders

Remains on treatment

13

Phase II Study in Front Line AML (MEI-004)Duration on Study and Response – Today

0 1 2 3 4 5 6 7 8 9 10 11 12 13

Response Based on Clinical

Review of Efficacy Data

CR

CRi

MLFS

PR/PRi

Stable Disease

Progressive Disease

Clinical Benefit –

AE/Withdrew

No Clinical Benefit –

AE/Withdrew

Time to 1st BM

Assessment for

Responders

Remains on treatment

Months on Study

1stLin

e E

lderly A

ML P

atients

(N

=33)

*

**

*

*

* Patients with improved response since presentation at ASH 2014

14

Phase II Study in Front Line AML: Conclusions

• Significant clinical activity in elderly patients w/ newly diagnosed AML

52% (17/33) have now achieved primary endpoint

o CR = 33% (11/33) to date

Majority of clinical responses occur within first two cycles

Observed response rate continues to increase with longer follow-up

Only one patient who has achieved clinical benefit (SD) has progressed

60-day mortality rate approximately 10% (3/33)

• Well tolerated in this population of elderly AML patients (≥ 65 years)

To date 12 patients on study > 6 months, reflecting long term tolerability

• Data support definitive development of Pracinostat in combination

with azacitidine in elderly AML patients

15

Elderly (Age ≥ 60 years) Patients with Newly Diagnosed AML

Unsuitable for Intensive Therapy

Pracinostat

+

Azacitidine

Placebo

+

Azacitidine

Proposed Phase III Study in Front Line AML

• Primary endpoint to support accelerated approval: CR

Endpoint for full approval: OS

• ~450 patients, one-to-one randomization

• Estimated initiation: June 2015

16

Global Market Opportunity in MDS and AML

MDS and AML are Growing Markets with

Limited Treatment Options

• HSCT is the only curative treatment;

however, the vast majority of patients are

ineligible candidates

• Many patients are also unfit for

chemotherapy

• Most patients who are high-risk and/or

can’t tolerate intensive therapy receive an

HMA (e.g. Vidaza® or Dacogen®)

• In 2013 prior to generic entrants,

combined worldwide sales of Vidaza and

Dacogen exceeded $1B

Pracinostat in combination with HMAs may

improve treatment outcomes in a large,

unmet market

MDS Prevalence

& AML Incidence

~ 130 - 150K Patients

High Risk / Int-2 MDS

& AML >60 Yrs

~ 50 - 60K Patients

HMA Treated MDS & AML

~ 18 - 23K Patients

* Evaluate Pharma# Decision Resources

Estimate ~30K Pracinostat Target

Patients in 7 Key Markets by 2021

• General & elderly population growth

• Increased Rx use in older patients

• Improved treatment options

2013 Epidemiology and Treatment Algorithm* #

G7 Markets

17

• Derived from in-house isoflavone-based technology platform

Targets Oxphos pathway resulting in rapid loss of cellular energy and

mitochondrial instability via increased ROS

Potent inhibitor of multiple human tumor cell lines, including

chemotherapy-resistant ovarian cancer stem cells

• Solid tumor dose-escalation study complete

~ 25% (5/21) experienced progression-free survival (PFS) > 2X longer

than prior anti-cancer therapy

One confirmed PR in a patient with small cell lung cancer lasting > 2 years

Dose limiting toxicity of Grade 3 neuropathy at 15 and 20 mg/kg

Generally well tolerated at 10 mg/kg weekly

ME-344: Lead Mitochondrial Inhibitor

18

Patients Eligible

for Topotecan

Small Cell Lung,

Ovarian & Cervical

Cancers

Small Cell

Lung Cancer (n=20)

ME-344

+

Topotecan

Ovarian Cancer(n=20)

ME-344

+

Topotecan

Phase Ib Trial of ME-344 Plus TopotecanFirst Patient Dosed in Cohort Expansion in Oct 2014

Confirm MTD(n=14)

ME-344(10 mg/kg weekly)

+ Topotecan(4 mg/m2 day 1,8,15)

Primary Endpoint: Safety & Tolerability of ME-344 + Topotecan

19

PWT143: Highly Selective PI3K Delta Inhibitor

• Acquired from Pathway Therapeutics in September 2013

• Expands drug development pipeline

Clinically validated target in hematologic diseases

Potential synergies with lead drug candidate Pracinostat

• Distinct chemical structure and evidence of improved pre-clinical

activity compared to other PI3K delta inhibitors in development

• IND-enabling 2-species tox studies and scale manufacturing

methods completed

• Expect to initiate first-in-human studies in first half of 2015

20

Intellectual Property

Pracinostat

• 3 issued US and 77 issued foreign patents

2 US and 8 foreign applications pending

• Composition of matter to May 2028 in US, Aug 2026 in EP

May 2033 with up to 5 years patent term restoration in US

Aug 2031 with up to 5 years Supplementary Protection Certificate in EP

ME-344

• 2 issued US and 18 issued foreign patents

3 US and 7 foreign applications pending

• Composition of matter to Sep 2025 in US and EP

Sep 2029 with up to 4 years of patent term restoration in US

Sep 2030 with up to 5 years Supplementary Protection Certificate in EP

PWT143

• 1 issued US patent

3 US and 29 foreign applications pending

• Composition of matter to Jan 2031 in US, pending in EP

21

Financial Highlights

• Cash: $78.7 million (as of December 31, 2014)

• Debt: None

• Shares outstanding: 33.3 million

22

2015 Clinical Milestones

Pracinostat

Top-line data from Phase II study in front line MDS (March)

Full data from Phase II study in front line MDS (June)

Full data from Phase II study in front line elderly AML (June)

Initiation of Phase III study in front line elderly AML (June)

ME-344

Data from Phase Ib trial in small cell lung and ovarian cancers

PWT143

Initiation of first-in-human study

[ NASDAQ: MEIP ]

Cowen and Company

Health Care Conference

March 2015