Medicenna Strengthens Board of Directors with Appointment of Karim Lalji

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TORONTO and HOUSTON, Aug. 15, 2024 (GLOBE NEWSWIRE) — Medicenna Therapeutics Corp. , today announced the appointment of Mr. Karim Lalji as a new addition to the Board of Directors effective from August 14, 2024.

“We are very pleased to announce the appointment of Mr. Karim Lalji as a new member of the Board of Directors,” said Dr. Fahar Merchant, President and CEO of Medicenna. “With a distinguished career in the life sciences sector, Mr. Lalji brings to our Board of Directors exceptional transactional expertise, strategic vision and a strong track record of large-pharma partnerships that will serve Medicenna as we build our Superkine platform and best-in-class clinical asset pipeline and best in class.”

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Mr. Lalji added, “I am proud and excited to join the Medicenna Board of Directors. New data from the Phase 1/2 ABILITY-1 Study highlight the best-in-class potential of MDNA11 for treating advanced solid tumors. Combined with the exciting Phase 2b results for bizaxofusp in brain cancer, the versatile Superkine platform, and a highly qualified management team, Medicenna is well positioned for continued success in immune-based therapies for cancer and other diseases with astute immune modulation. system.”

Mr. Lalji began his career at Merck & Company headquartered in New Jersey. During his 10 years at Merck, he held several positions of increasing responsibility, ultimately driving global strategy for several of the company’s therapeutic franchises including global executive leading the osteoporosis franchise and increasing annual sales of key programs to over $1 billion. Following Merck, Mr. Lalji served as Vice President of Business Strategy and New Product Commercialization at Sepracor, Inc., significantly contributing to the company’s growth from $50 million to over $1 billion in annual sales. In 2006, Mr. Lalji joined Cardiome Pharma Corp as Chief Commercial Officer, facilitating a $1 billion licensing transaction with Merck, the largest licensing deal completed by a Canadian biopharma company at the time.

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Mr. Lalji joins Medicenna’s Board of Directors with broad governance experience, having served as Chairman of Sitka Biopharma focused on oncology, and as a Board Member of AccelRX and its Drug Research and Development Center (now known as adMare BioInnovations). In addition, he served on the Board of Trustees of Harvard University’s Beth Israel Deaconess Medical Center, a leading academic teaching hospital, where he continues to serve as an Emeritus Board Member and a member of the Research Oversight Committee. Currently, Mr. Lalji is the CEO of Microbion Pharma Corp., a privately held clinical stage pharmaceutical company. Karim holds a BBA from Simon Fraser University and a Master of Science in Health Policy and Management from Harvard University, where he was awarded the Wilinsky Award for Academic Excellence.

About Medicenna Therapeutics

Medicenna is a clinical-stage immunotherapy company focused on developing novel versions of highly selective IL-2, IL-4 and IL-13 Superkines and first-in-class Empowered Superkines. Medicenna’s long-acting IL-2 Superkine, MDNA11, is a next-generation IL-2 with superior affinity to CD122 (IL-2 receptor beta) and absence of CD25 (IL-2 receptor alpha), thereby stimulating cancer-killing effectors. T cells and NK cells. Medicenna’s IL-4 Empowered Superkine, bizaxofusp (formerly MDNA55), has been studied in 5 clinical trials enrolling more than 130 patients, including a Phase 2b trial for recurrent GBM, the most common and fatal brain cancer. Bizaxofusp has received FastTrack and Orphan Drug status from the FDA and FDA/EMA. Medicenna’s early-stage BiSKITs™ (Bifunctional SuperKine ImmunoTherapies) and T-MASK™ (Targeted Metalloprotease Activated SuperKine) programs are designed to enhance the ability of Superkines to treat immunologically “cold” tumors.

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For more information, visit www.medicenna.comand follow us on X and LinkedIn.

Forward-Looking Statement

This news release contains forward-looking statements within the meaning of applicable securities laws. Forward-looking statements include, but are not limited to, express or implied statements about the Company’s future operations, estimates, plans, strategic ambitions, partnership activities and opportunities, goals, expectations, opinions, forecasts, projections, guidance, prospects or statements the rest is not a historical fact. Forward-looking statements are often identified by terms such as “will”, “could”, “should”, “anticipate”, “expect”, “believe”, “seek”, “potential” and similar expressions. and subject to risk and uncertainty. There can be no assurance that these statements will be accurate and actual results and future events may differ materially from those anticipated in these statements. Important factors that may cause actual results to differ from the Company’s expectations include the risks detailed in the Company’s most recent annual information form and in other filings made by the Company with applicable securities regulators from time to time in Canada.

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The reader is cautioned that the assumptions used in preparing the forward-looking information may be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the Company’s control. The reader is cautioned not to rely on the foregoing information. Such information, even if believed to be reasonable by management, may be incorrect and actual results may differ materially from those anticipated. The forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date hereof and except as required by law, we do not intend and assume no obligation to publicly update or revise any of the forward-looking statements contained herein.

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Investor/Media Contact:

Christina Cameron
Investor Relations, Medicenna Therapeutics
(647) 953-0673
ir@medicena.com

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