Medicenna raises CDN$4.44 million in public offering of units

Medicenna Therapeutics Corp. (TSX: MDNA) completed a public offering of 8,880,000 units at CDN$0.50 per unit, raising approximately CDN$4.44 million in gross proceeds before expenses.

Each unit consists of one common share and one-half of a common share purchase warrant. The warrants allow holders to purchase additional shares at CDN$0.65 each for three years following the closing date.

Bloom Burton Securities Inc. served as the sole agent for the offering under an agency agreement dated May 21, 2026. The company issued 450,100 compensation warrants to the agent, exercisable at CDN$0.50 per share for two years.

The offering was conducted under a prospectus supplement dated May 21, 2026, filed in British Columbia, Alberta and Ontario. The securities were not registered under U.S. securities laws and cannot be offered to U.S. persons.

Medicenna previously announced a separate CDN$8.0 million structured financing arrangement with Sorbie Bornholm LP and Sorbie Investments LLP.

The Toronto-based clinical-stage immunotherapy company develops treatments targeting cancer and autoimmune diseases. Its pipeline includes MDNA11, an IL-2 treatment, and MDNA113, a PD-1 x IL-2 bifunctional therapy for solid tumors. The company's IL-4 treatment bizaxofusp has received FDA FastTrack and Orphan Drug designations.

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