Micro-cap Mei Pharma lands $100M upfront on beleaguered PI3K pathway

Nearly a decade ago, the San Diego biotech had seen a presentation at ASH on a preclinical cancer pill that targeted a cellular pathway known as PI3K, or phosphoinositide 3-kinase inhibitor. It seemed to be involved in a host of cell processes, including as a back channel for cancers blocked in other directions. Biotechs were just figuring out how to drug it.