NASDAQ:MEIP

StifelHealthcareConferenceNovember2017

Forward-LookingStatementsThispresentationcontains,andourofficersandrepresentativesmayfromtimetotimemake,statementsthatare“forward-lookingstatements”withinthemeaningofthesafeharborprovisionsoftheU.S.PrivateSecuritiesLitigationReformActof1995.Examplesofforward-lookingstatementsinclude,amongothers,statementsregardingourdevelopmentstrategy;potentialadvantagesofourproductcandidates;theinitiationandcompletionofpreclinicalandclinicalstudiesandthereportingoftheresultsthereof;thetimingofregulatorysubmissionsandactions;thesufficiencyofourexistingcash;andallotherstatementsrelatingtoourplans,objectives,expectationsandbeliefsregardingfutureperformance,operations,financialconditionandotherfutureevents(includingassumptionsunderlyingorrelatingtoanyoftheforegoing).Theseforward-lookingstatementsrelyonanumberofassumptionsconcerningfutureeventsandaresubjecttoanumberofrisks,uncertainties,andotherfactors,manyofwhichareoutsideofourcontrol.Importantfactorsthatcouldcauseouractualresultsandfinancialconditiontodiffermateriallyfromthoseindicatedinforward-lookingstatementsinclude,amongothers:uncertaintiesrelatingtotheinitiationandcompletionofpreclinicalandclinicalstudies;whetherpreclinicalandclinicalstudyresultswillvalidateandsupportthesafetyandefficacyofourproductcandidates;theoutcomeofregulatoryreviewsofourproductcandidates;varyinginterpretationofresearchanddevelopmentandmarketdata;risksanduncertaintiesrelatingtointellectualpropertyandtheotherfactorsdiscussedunderthecaption“Item1A.RiskFactors”inourmostrecentannualreportonForm10-KandourmostrecentquarterlyreportonForm10-Q.Anyforward-lookingstatementmadebyusinthispresentationisbasedonlyoninformationcurrentlyavailabletousandspeaksonlyasofthedateonwhichitismade.Inaddition,weoperateinahighlycompetitiveandrapidlychangingenvironment,andnewrisksmayarise.Accordingly,youshouldnotplaceanyrelianceonforward-lookingstatementsasapredictionofactualresults.Wedisclaimanyintentionto,andundertakenoobligationto,updateorreviseanyforward-lookingstatement.YouareurgedtocarefullyreviewandconsiderthevariousdisclosuresinourmostrecentannualreportonForm10-K,ourmostrecentForm10-QandourotherpublicfilingswiththeSECsincethefilingofourmostrecentannualreport.

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MEIPharma:LeveragingCoreStrengthinOncologyDrugDevelopment

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POTENTIALFORTWOREGISTRATIONSTUDIESIN2018

GrowingPipelineofDrugCandidates•  Pracinostat:HDACinhibitorwithBreakthroughTherapyDesignationinpivotalPhase3study

•  ME-401:DifferentiatedPI3KdeltainhibitorwithemergingdatainCLL&follicularlymphoma

•  Voruciclib:SelectiveCDKinhibitorwithpotentialtoovercomeresistancetoVenclexta™

•  ME-344:Mitochondrialinhibitorwithupcomingdata+Avastin®inHER2⁻breastcancer

StrongBalanceSheet$47millionincashasofSeptember30,nodebt

ExperiencedManagementTeamProventrackrecordindrugdevelopment

LeadershipTeamwithDeepExpertiseinDrugDevelopmentEXECUTIVEMANAGEMENTDanielGold,PhDPresident&ChiefExecutiveOfficerFormerChiefScientificOfficer&Founder,Favrille

RobertMass,MDChiefMedicalOfficerFormerHeadofMedicalAffairs,BioOncology,Genentech

BrianDrazbaChiefFinancialOfficerFormerChiefFinancialOfficer,HeronTherapeutics

DavidUrso,JDSVP,CorporateDevelopment&GeneralCounselFormerPrincipal,ForwardVentures/COO,TiogaPharmaceuticals

KarenPotts,PhDSVP,RegulatoryAffairsFormerSVPofRegulatoryAffairs,TriusTherapeutics

RichardGhalie,MDSVP,ClinicalDevelopmentFormerChiefMedicalOfficer,Denovo,HemaQuest,Novalar&Favrille

BOARDOFDIRECTORSChristineWhite,MD(Chair)FormerHeadofGlobalMedicalAffairs,BiogenIdec

CharlesBaltic,JDCo-HeadofHealthcare,Needham&Co.

KevanClemens,PhDFormerHeadofGlobalOncology,Roche

NickGlover,PhDPresident&CEO,SierraOncology

DanielGold,PhDPresident&CEO,MEIPharma

ThomasReynolds,MD,PhDFormerChiefMedicalOfficer,SeattleGenetics

WilliamRueckertFormerChairman,NovogenLimited

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DRUGCANDIDATE INDICATION/COMBINATION PRE-CLINICAL CLINICALPROOF-OF-CONCEPT PIVOTAL

Pracinostat*HDACInhibitor

AcuteMyeloidLeukemiaUnfitforintensivechemotherapyVidaza®(azacitidine)

MyelodysplasticSyndromeHigh&veryhighriskVidaza®(azacitidine)

ME-401PI3KDeltaInhibitor

CLL&FollicularLymphomaRelapsed/refractorySingleagent

IndolentLymphoma&DLBCLRelapsed/refractoryRituxan®(rituximab)

VoruciclibSelectiveCDKInhibitor

ChronicLymphocyticLeukemiaRelapsed/refractoryVenclexta™(venetoclax)

ME-344MitochondrialInhibitor

HER2-BreastCancer**Treatment-naïve,earlystageAvastin®(bevacizumab)

*PartneredwithHelsinnHealthcare,SA**Investigator-sponsoredstudy

REGISTRATIONSTUDY

ClinicalPipelineTargetingMultipleDrugPathways

Pracinostat:PotentialBest-in-ClassHDACInhibitor

BreakthroughTherapyDesignationbyFDA*

•  Pracinostat+azacitidinewasgenerallywelltoleratedinthisstudy•  Mostcommongrade3/4treatment-emergentadverseeventsin≥25%ofpatientsincludedfebrile

neutropenia,thrombocytopenia,anemiaandfatigue

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*BreakthroughTherapyDesignationgrantedbytheU.S.FoodandDrugAdministration(FDA)fortheinvestigationaldrugPracinostatincombinationwithazacitidineforthetreatmentofpatientswithnewlydiagnosedAMLwhoare≥75yearsofageorunfitforintensivechemotherapyPracinostatisaninvestigationalagentnotapprovedforcommercialuseintheU.S.

PRACINOSTAT+AZACITIDINE(N=50)

CRrate 42%60-daymortalityrate 10%DurationofResponse(CR/CRi) 17.2months(95%CI:10.9-21.5)1-yearsurvivalrate 62%Medianoverallsurvival 19.1months(95%CI:10.7-26.5)

Phase2studyofpracinostat+azacitidineinelderlypatientswithnewlydiagnosedAML,notcandidatesforinductionchemotherapy

PivotalPhase3StudyinAMLFirstpatientdosedinJuly2017

•  Randomized,double-blind,placebo-controlledstudytoenrollupto500patients

•  Primaryendpoint:Overallsurvival

•  Secondaryendpoints:MorphologicCRrate,eventfreesurvival&durationofCR

•  Inclusioncriteria:NewlydiagnosedAMLpatients≥18yearswhoareunfittoreceiveintensiveremissioninductionchemotherapyduetoage(≥75years)orcomorbidities

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GroupA(N=~250)Pracinostat+Azacitidine

GroupB(N=~250)Placebo+Azacitidine

NewlyDiagnosedAMLPatientsUnfittoReceiveInductionTherapy

Phase2Dose-OptimizationStudyinMDSExpecttoreportStage1resultsinH12018

•  Two-stagestudy:12-15sitesinstage1;approximately25sitesinstage2

•  Primaryobjectives:Safetyandtolerability;overallresponserate(ORR)

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Stage2:GroupA(N=40)Pracinostat+Azacitidine

Stage2:GroupB(N=40)Placebo+Azacitidine

Stage1(N~32)Pracinostat(45mg)+Azacitidine

Ifrateofdiscontinuation(forreasonsotherthanprogressivedisease)infirst3cycles≤20%,proceedtoStage2

PatientswithHighandVeryHighRiskMDSPreviouslyUntreatedwithHypomethylatingAgents

HelsinnanIdealPartnertoAdvancePracinostat

•  CombinesMEIPharma’sclinicaldevelopmentexpertiseinoncologywithHelsinn’ssalesandmarketingexpertisewithhematologiconcologists

•  Resultedin$20Minnear-termpayments,upto$444Minfuturemilestones+royalties

•  $5millionequityinvestmentfromHelsinnInvestmentFund

•  HelsinnresponsibleforfundingglobaldevelopmentandcommercializationforPracinostatcurrentlybeingevaluatedinAMLandotherhematologicdiseases

•  SharecostofPhase2studytoexploreoptimaldosingregimenoftheinvestigationalagentPracinostat+azacitidineinhighandveryhighriskMDS

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ME-401:AHighlyDifferentiatedPI3KDeltaInhibitor

DistinctChemicalStructurefromOtherPI3KDeltaInhibitors

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IdelalisibGilead

DuvelisibVerastem

UmbralisibTGTherapeutics

ME-401MEIPharma

N

O

N

F

HN

N

N

HN

N

XZ

Y NHN

N

O

NR2

R4

R1

R3

HN

N

HN

N

N

N

O

C

Cl

H2N

N

NN

N

C

O

O

F

F

F

O

N

N

N

N

R6

R5

R4

R3

R2

H2N

INCB50465Incyte

PharmacodynamicPropertiesSuggestPotentialforImprovedSafetyandVersatilityAttributes

•  LinearPKfrom10to150mg•  t1/2~28hourssupportsdailydosing

•  LargeVolumeofDistribution

•  Preferentialaccumulationwithincells

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Outcome

•  Highlypotentatlowplasmaconcentrations

•  Potentialforsignificantimprovementintherapeuticwindow

•  Versatilityforcombinationapproaches

ME-401DemonstratesHighBiologicPotency

•  PK/PDdatawasfittoEmaxmodel

⎼ EC50=0.6ng/ml(1.0nM)

⎼ EC90=5.2ng/ml(8.9nM)

•  Dailydosingof60mginPhase1bstudiesyieldscontinuousplasmaconcentrations≈3XabovetheEC90

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PlasmaConcentration(ng/ml)

%Inhibitio

nof

Stim

ulationof

Bas

ophils

01020304050

120

100

80

60

40

20

0

PK/PDDataEmaxModelEC9060mgCmin

*InhibitionofbasophilactivationbyFcεR1antibodyfollowingsingleascendingdosinginhealthyvolunteers

Pre-ClinicalandClinicalDataSuggestWideTherapeuticWindow

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*Source:CHMPassessmentreport

DogNOAEL RecommendedStartingDose(150mgBID)

Idelalisib*

Leve

lofD

rugEx

posu

re

DogNOAEL MinimumBiologicallyEffectiveDose(60mgQD)

ME-401

Leve

lofD

rugEx

posu

re

Exposure(AUC)inhumansvs.NoObservedAdverseEffectLevel(NOAEL)indogs

PhaseIbStudyinCLLandFollicularLymphoma

Keyobjectives:

• MinimumBiologicallyEffectiveDose(mBED)

•  EfficaciousDose

• MaximumToleratedDose(MTD)

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DoseEscalationStartat60mg

CohortExpansionIfnoDLTsand≥2responsesin6patients,thenexpandcohortto12

DoseescalatetoMTD

EfficaciousDosemBED

Single-AgentRegistrationStudyCombinationStudies

Keyeligibility:

• Relapsed/refractoryCLLorfollicularlymphoma

• Nopriortherapyw/PI3Kdeltainhibitors

• Nopriortherapyw/BTKinhibitorsunlessintolerant

Phase1bStudyinCLLandFollicularLymphomaEmergingSafetyandEfficacyData•  28patients(13at60mg,9at120mg,6at180mg)enrolled;25evaluableforsafety(range=1-11mo.,median=4.3mo.);18patientsevaluableforefficacy

–  Responserateinboth60mgand120mgcohortsboth>50%

•  Nodoselimitingtoxicitiesatnoted

•  Plantosubmitlong-termsafetyandefficacydataon~36patientsforpresentationatscientificmeetinginQ22018

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QualitativeAssessmentoftheUnmetMedicalNeedinRelapsed/RefractoryFollicularLymphoma

Low Low to Moderate Moderate Moderate to High High

4% 4% 28% 48% 16%

92%

Current unmet need in relapsed/refractory FL

Low Low to Moderate Moderate Moderate to High High

0% 16% 68% 16% 0%

100%

Overall satisfaction with drugs currently available to treat relapsed/refractory FL

*Source:MEIPharmaPrimaryMarketResearch;n=25U.S.andEUPhysicians

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ImportanceofIdelalisibinRelapsed/RefractoryFollicularLymphoma:PotentialforaSaferPI3KDelta*

Low Low to Moderate Moderate Moderate to High High

0% 0% 4% 40% 56%

96%

Low Low to Moderate Moderate Moderate to High High

0% 4% 28% 56% 12%

84%

Importance of Idelalisib in treating/managing relapsed/refractory FL patients

Importance of novel PI3Kδ inhibitor without the negative aspects of Idelalisib

*Source:MEIPharmaPrimaryMarketResearch;n=25U.S.andEUPhysicians

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Voruciclib:ASelectiveCDKInhibitor

Clinical-StageAssetwithClearDevelopmentPath

•  ObtainedrightstovoruciclibinSep2017for$2.9Minnear-termpayments⎼  $2Mincrementalpaymentuptoregulatoryapprovaloffirstindication⎼ Additionalpotentialmilestonesofupto$179M,mid-single-digittieredroyalties

•  Oral,selectiveCDKinhibitordifferentiatedbypotentinhibitionofCDK9⎼ CDK9showntosuppressMCL1,aknownmechanismofresistancetoBCL2inhibitors

•  Pre-clinicaldatashowssynergywithBCL2inhibitorVenclexta™(venetoclax)

•  Testedinmorethan70patientsinmultiplePhase1clinicalstudies– ManageableGIsideeffectsconsistentwithotherCDKinhibitors

•  PlannedPhase1/2studyinBcellmalignanciesandthen+venetoclaxinR/RCLL

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MCL1:TheAchillesHealforVenetoclax

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•  VenetoclaxinhibitsBCL2butnotanti-apoptoticfamilymemberMCL1

•  IncreasedMCL1isanestablishedresistancemechanismtovenetoclax1

1Blood.2016Jun23;127(25):3192-201

Voruciclib:PotentialtoOvercomeVenetoclaxResistance

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•  Cyclindependentkinases(CDKs)areafamilyofkinasesinvolvedincellcycleandtranscriptioncontrol

•  VoruciclibisanoralCDKinhibitorwithlownMinhibitionofCDK9,4/6&1

•  InhibitionofCDK9resultsinsuppressionofMCL1levels,promotingapoptosisinMCL1dependentcells

Pre-ClinicalStudiesShowInhibitionofMCL1andSynergisticCellDeath*

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Vehicle Voruciclib Venetoclax Voruciclib+VenetoclaxMCL

-1/D

API/FT

M

*NUDHL1diffuselargeB-celllymphoma(DLBCL)modelusingPresage’sCIVO™intratumoralmicrodosingplatform

CC3/D

API/FT

M

MCL1Levels

CellDeath

Voruciclib/VenetoclaxSynergyObservedinvivo*

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*U2932diffuselargeB-celllymphoma(DLBCL)model

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ClinicalExperience

•  Dosedfrom75-500mgQDinPhase1solidtumorstudies;MTD350mg

•  Orallyavailablew/half-lifeof>24hours

•  MostcommonAEs:diarrhea,nausea,vomiting,fatigue

•  Twoi.v.CDKinhibitorswithCDK9activityhavebeenevaluatedinCLL

⎼ Alvociclib(Sanofi),N=164:PR=25%,TLS=25%(discontinuedduetosafety)

⎼ Dinaciclib(Merck),N=44:PR=40%,TLS=5%(discontinuedinCLLforprogramre-prioritization;currentlyinmultiplePhase1studieswithPD-1)

PotentialforCombinationwithVenetoclaxatSafe,EfficaciousDose

•  Phase1PKresultssuggeststeadystatelevels>1.5μMachievablewith150mgdailydosing

•  Inducesapoptosisat0.5–1μMin>50patient-derivedCLLsamples(right)1

•  SuppressionofMCL1Ipre-clinicalstudiesalsoobservedatconcentrations0.5–1μM

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1PLoSOne.2015Nov25;10(11):e0143685

Voruciclib, µM

Phase1/2StudyinRefractoryCLLExpecttodosefirstpatientinQ22018

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Determinesafety,efficacyandMCL1inhibitionofsingle-agentvoruciclib.MonitorMCL1levels;Beginstage2concurrentlyoncesafetyofinitialdoseshavebeenestablished

Stage3Cohortexpansionofvoruciclib+venetoclax

Stage1Doseescalationofsingle-agentvoruciclib

Stage2Doseescalationofvoruciclib+venetoclax

EstablishrecommendedPhase2doseofvoruciclibincombinationwithvenetoclax

Evaluatesafety,responserateandrateofminimalresidualdisease(MRD)ofvoruciclibincombinationwithvenetoclax

Voruciclib+VenetoclaxNotOnlyaCLLStory:OpportunitiesinDouble-HitLymphoma

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•  SubtypeofdiffuselargeB-celllymphoma(DLBCL)characterizedbyrearrangementsofMYCandBCL2(mostcommon)orBCL6⎼  Poorprognosis,significantunmetneed

•  VoruciclibinhibitsMYCproteinexpression(right)

•  LowresponseratetoBCL2inhibitorvenetoclaxasmonotherapyinDLBCL(18%ORR;n=34)1

•  VoruciclibsynergisticwithvenetoclaxinmultipleDLBCLmodels2

1JClinOncol.2017Mar10;35(8):826-833;2ASH2016:4167

ME-344:ANovelTumorSelectiveMitochondrialInhibitor

ME-344:ANovelMitochondrialInhibitor

•  MechanismofactiondirectlytargetsmitochondrialOXPHOScomplexI1,resultinginrapidlossofcellularenergy(ATP)

•  EvidenceofsingleagentactivityinPhase1dose-escalationstudyinrefractorysolidtumors2

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1AmJCancerRes.2015Jan15;5(2):689-701;2Cancer.2015Apr1;121(7):1056-63

TheProblem:TumorCellMetabolicPlasticity

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•  Invivo,tumorcellsdisplaymetabolicplasticityswitchingbetweenaerobicglycolysisandmitochondrialmetabolism

•  Pre-clinicaldatademonstrateabilityofVEGFinhibitorstomodulatetumor’sglycolyticdependence1,2

•  Investigator-sponsoredstudyofME-344incombinationwithAvastin®inHER2-negativebreastcancernowactivelydosingpatients

1JPharmacolExpTher.2016Aug;358(2):199-208;2CellRep.2016Jun21;15(12):2705-18

ClinicalStudyinHER2-NegativeBreastCancer*DataexpectedinDecember2017

•  Prospective,randomizedstudybeingconductedat6sitesinSpain

•  Primaryobjective:Mitochondrialswitchchangesfrombaseline

•  Secondaryobjectives:Evidenceofbiologicanti-tumoractivityandsafety

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Biopsy/Analysis

GroupA(N=20)ME-344+Avastin®

GroupB(N=20)Placebo+Avastin®

SurgeryonDay28/Analysis

*SponsoredbySpanishNationalCancerResearchCentre

StrongIntellectualPropertyProtection

Pracinostat(formerlySB939)•  4issuedU.S.and77issuedforeignpatents

⎼  2U.S.and8foreignapplicationspending•  CompositionofmattertoMay2028inU.S.

⎼  May2033,whichincludesupto5yearsofpatenttermrestorationinU.S.

Voruciclib(formerlyP1446A)•  2issuedU.S.and14issuedforeignpatents

⎼  6U.S.and11foreignapplicationspending•  CompositionofmattertoSep2028inU.S.

⎼  Sept2033,whichincludesupto5yearsofpatenttermrestorationinU.S.

ME-401(formerlyPWT143)•  2issuedU.S.patent

⎼  1U.S.and21foreignapplicationspending•  CompositionofmattertoDec2032inU.S.

⎼  Dec2037,whichincludesupto5yearsofpatenttermrestorationinU.S.

ME-344(formerlyNV-344)•  3issuedU.S.and18issuedforeignpatents

⎼  3U.S.and7foreignapplicationspending•  PharmaceuticalcompositiontoNov2031inU.S.

⎼  Nov2036,whichincludesupto5yearsofpatenttermrestorationinU.S.

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DeliveringonNear-TermMilestones

Pracinostatü  FirstpatientdosedinPhase2dose-optimizationstudyinMDSü  FirstpatientdosedinpivotalPhase3studyinAMLq  Datafromstage1ofPhase2dose-optimizationstudyinMDS(1H2018)ME-401ü  Demonstratesafe,efficaciousdoseinsingle-agentPhaseIbstudyinCLL&follicularlymphomaü  InitiatecombinationstudywithRituxan®inindolentlymphoma&DLBCL(Q42017)q  DatafromPhaseIbstudyinCLL&follicularlymphoma(Q22018)q  Initiatesingle-agentregistrationstudyinR/Rfollicularlymphoma(Q22018)Voruciclibq  InitiatePhase1/2studywithvenetoclaxinrelapsed/refractoryBcellmalignancies(Q22018)ME-344q  Datafrominvestigator-sponsoredstudywithAvastin®inHER2-negativebreastcancer(1H2018)

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Pracinostat,ME-401,voruciclibandME-344areinvestigationalagentsandhavenotbeenapprovedforcommercialuseintheU.S.

NASDAQ:MEIP

StifelHealthcareConferenceNovember2017