Ya, he doesn't, but that's what Lich Bane helps with in its speed. Another thing is that Call of the void and Null zone placed behind him while being chased really helps, especially with his spell vamp. Most of the times that I get away with Malzahar is mainly due to me wearing out the one chasing me until they're low enough to take out 1 on 1.

If you feel like you want to sub out one of his spells, be my guest. But he can take on most 1 or two man ganks, and if its a 3-5 man gank, you're not getting away anyways, even with ghost or flash.

Ghost or flash to get away. It helps since Malzahar has no escape method whatsoever.

Thank you. I left the runes mixed up on purpose since its really your preference on runes. But if you say no mana regen runes, then I will modify it as such.

One question though, why no exhaust? And what other spell should you swap it out for instead?

For runes don't mix it up, leave it simple CDR Glyphs, Magic Pen Marks and you don't need mana reg runes. NO EXHUAST plz but overall good item choices. +1 I usually go for Archangel staff but it is good.