Medicenna launches public offering to fund clinical programs

Medicenna Therapeutics Corp. (TSX: MDNA) announced the launch of a marketed public offering of securities, according to a press release statement. The clinical-stage immunotherapy company focuses on developing treatments targeting cancer and autoimmune diseases.

Bloom Burton Securities Inc. will act as sole agent for the offering on a best efforts agency basis. The specific type of securities, pricing, offering size and final terms will be determined through negotiations between Medicenna and Bloom Burton based on market conditions.

The company plans to use net proceeds primarily to advance clinical and regulatory development of its lead programs, including MDNA11 and MDNA113, along with working capital and general corporate purposes.

The offering will be conducted under a prospectus supplement to Medicenna's existing short form base shelf prospectus dated June 4, 2025, filed in British Columbia, Alberta and Ontario. The securities may also be offered in certain jurisdictions outside Canada where no prospectus or registration obligations arise.

Closing of the offering remains subject to customary conditions, including receipt of necessary regulatory and stock exchange approvals. The securities will not be registered under the U.S. Securities Act of 1933 and may not be offered or sold in the United States without proper registration or exemption.

Medicenna develops IL-2, IL-4 and IL-13 Superkines and Empowered Superkines. Its lead candidate MDNA11 is a long-acting IL-2 Superkine designed to preferentially stimulate cancer-fighting immune cells. MDNA113, a PD-1 x IL-2 bifunctional therapy, targets solid tumors. The company's IL-4 therapy bizaxofusp has been studied in five clinical trials with over 130 patients and received FDA FastTrack and Orphan Drug designations.

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