Infinity Pharma Goes Bankrupt After MEI Pharma Falls Through

Infinity Pharmaceuticals Inc. has filed bankruptcy months after terminating a proposed tie-up with fellow drugmaker MEI Pharma Inc.

• Infinity listed assets of roughly $21 million compared to debt of about $58.6 million on a Chapter 11 petition filed Friday in Delaware
• Cambridge, Massachusetts-based Infinity, which has been developing an oral cancer drug, had taken steps to reduce costs since terminating the proposed merger with MEI Pharma in July
  • Infinity said at the time that MEI Pharma wasn’t able to get stockholder approval of the deal, which was challenged by MEI Pharma activist shareholders Anson Funds and Cable Car Capital LLC ...