MEI Pharma (MEIP) shares have surged in trading today after the company announced a licensing, development and commercialization agreement with Swiss pharmaceutical group Helsinn. Helsinn will gain exclusive worldwide rights, including manufacturing and commercialization rights, and will be responsible for funding the global development of Pracinostat, MEIP's Phase 3-ready drug candidate for the treatment of acute myeloid leukemia. MEIP will receive near-term payments of $20M, and may receive up to $444M in potential development, regulatory and sales-based milestone payments, along with additional tiered royalty payments in selected territories.