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Medicenna Announces Closing of Public Offering of $35 Million
Medicenna Announces Closing of Public Offering of $35 Million Canada NewsWire TO...
About this update from Medicenna Therapeutics Corp.
[{"type":"text","content":"\n\n\n\nMedicenna Announces Closing of Public Offering of $35 Million\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n.prntaj{\nTEXT-ALIGN: JUSTIFY\n}\n\n\n\n\n\n\n\nCanada NewsWire\nTORONTO and HOUSTON, March 17, 2020\n\n\n\n/NOT FOR DISSEMINATION OR DISTRIBUTION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRE SERVICES./\n TORONTO and HOUSTON, March 17, 2020 /CNW/ - Medicenna Therapeutics Corp. (\"Medicenna\" or the \"Company\") (TSX: MDNA), a clinical stage immuno-oncology company, is pleased to announce the closing of its previously announced public offering (the \"Offering\") of common shares (the \"Offered Shares\"). The Offering was made pursuant to an agency agreement (the \"Agency Agreement\") entered into among Bloom Burton Securities Inc., as lead agent, Mackie Research Capital Corporation and Haywood Securities Inc. (collectively, the \"Agents\") and the Company. Maxim Group LLC acted as financial advisor to Medicenna in connection with the transaction.\nPursuant to the Offering, the Company issued a total of 11,290,323 Offered Shares at a price of CDN$3.10 per Offered Share for gross proceeds of approximately CDN$35 million. \n\"We are delighted to have attracted exceptional life-science focused institutional investors despite tough market conditions. This funding, the largest to date for Medicenna, we believe provides solid validation for both our programs, establishes a strong balance sheet to 2022 and could enable us to achieve key clinical and regulatory milestones for MDNA55 and MDNA19,\" said Dr. Fahar Merchant, President and CEO of Medicenna. \"Unlike competing programs, Medicenna's IL-2 superkine, MDNA19, has the potential for exceptionally high selectivity and affinity to preferentially boost cancer fighting immune cells without toxicity or immunosuppressive activity. We plan to share non-human primate data this quarter and complete a Phase 1 monotherapy trial with MDNA19 next year. Furthermore, on the back of compelling Phase 2b recurrent glioblastoma (rGBM) results, we look forward to the E...