Medicenna Therapeutics Corp. · TSX:MDNA
Medicenna Therapeutics — Investor Presentation (October 2025)
24 slides from Medicenna Therapeutics's investor presentation, October 2025
Slide 1: Corporate Overview October 2025
TSX: MDNA OTCQX: MDNAF Corporate Overview October 2025
Slide 2: Disclaimers and forward-looking statements
Disclaimers and forward-looking statements Certain statements in this presentation may constitute “forward-looking statements” under applicable securities laws. These forward-looking statements include, but are not limited to, information about possible or assumed future results of the Medicenna The
Slide 3: Our Mission: To develop life-changing immunotherapies
Our Mission: To develop life-changing immunotherapies that transform people’s lives and deliver the best possible patient outcomes 2025 – Phase-3 Ready program for glioblastoma Phase 1/2 trial ongoing in end-stage cancers PD-1 x IL-2 bi-specific advancing towards Phase 1 for cancer Preclinical autoi
Slide 4: Management Team and Advisors
Management Team and Advisors Fahar Merchant PhD Arash Yavari MBBS DPhil John Sampson MD PhD MBA Paolo Ascierto MD David Hyman CA CBV President and CEO Director Of Clinical Strategy Clinical Advisor Chair of Clinical Advisory Board CFO A biotech veteran with 20+ years of broad clinical, Professor of
Slide 5: Balanced Pipeline of Early, Mid-, & Late-stage Assets
Balanced Pipeline of Early, Mid-, & Late-stage Assets Candidate Indication Discovery Preclinical Phase 1 Phase 2 Phase 3 MDNA11 IL-2 Super Agonist Various solid tumors Key Data Readouts in H2 2025 monotherapy MDNA11 IL-2 Super Agonist Various solid tumors Key Data Readouts in H2 2025 KEYTRUDA® combo
Slide 6: Clinical-Stage Immunotherapy Company Focused on Evolutionary Superkines
Clinical-Stage Immunotherapy Company Focused on Evolutionary Superkines to Develop Revolutionary Medicines for Patients with Unmet Needs Programs Planned Milestones for H2 2025 MDNA11 Best-in-class IL-2 Superkine 30-50% ORR ➢ Complete ABILITY-1 Enrollment The only non-α, β-enhanced in checkpoint res
Slide 7: MDNA11
MDNA11 Clinical-Stage Asset in Phase 1/2 with a Monotherapy Treatment Arm and a Combination Arm with KEYTRUDA® (pembrolizumab) This study is in collaboration with Merck Sharp & Dohme LLC, a subsidiary of Merck & Co., Inc., Rahway, NJ, USA.
Slide 8: Biology-driven Evolution of IL-2 Therapies
Biology-driven Evolution of IL-2 Therapies Wild-type IL-2 2nd Generation IL-2 Next-Generation IL-2 1998 2015 2018 2020 Present • First approved IO drug for $3.6B $2.5B • MDNA11 continues to demonstrate best-in-class RCC and melanoma Licensing Deal Acquisition potential with durable single agent acti
Slide 9: Significant Commercial Opportunity for MDNA11
Significant Commercial Opportunity for MDNA11 Anti-PD-1 Inhibitor KEYTRUDA® Anti-PD-1 Inhibitor + Anti-CTLA-4 OPDIVO® YERVOY® MDNA11 (pembrolizumab) (nivolumab) (ipilimumab) ~16% of Tumors Shrink in ~20% of Tumors Shrink in Human End-Stage Patients1 End-Stage Patients1 IL-2 albumin superkine US $29.
Slide 10: MDNA11: Novel 'beta-enhanced not-alpha' pharmacology
MDNA11: Novel ‘beta-enhanced not-alpha’ pharmacology Superior selectivity and anti-cancer response with enhanced ‘β-only’ binding Linker Engineered IL-2 Human Albumin Superior Abolish Enhance β Novel Improved α Binding + Binding + + PK profile = Anti-Cancer Pharmacology Response Tregs Effector C
Slide 11: Clinical Updates From Phase 1/2 ABILITY-1 Trial: MDNA11 Monotherapy
Clinical Updates From Phase 1/2 ABILITY-1 Trial: MDNA11 Monotherapy First-in-Human Trial of MDNA11 in Patients with Advanced/Metastatic End-stage Cancers 17 Phase 2-Eligible End-Stage Cancer Patients % of Cancer Eliminated 100% 30% 80% 60% 1 Complete Response (CR) Tumors Shrunk in End- 40% 4 Partial
Slide 12: Caring for Patients & Creating Value for Shareholders
Caring for Patients & Creating Value for Shareholders MDNA11 has potential to address devastating cancers with significant commercial opportunities Pancreatic Cancers Endometrial Cancers 2 out of 2 patients with MSI-H PDAC When MDNA11 was combined with responded to treatment Merck’s KEYTRUDA® 2 out
Slide 13: Addressable Markets in Checkpoint-Resistant MSI-H, TMB-H and Melanoma Cancers
Addressable Markets in Checkpoint-Resistant MSI-H, TMB-H and Melanoma Cancers Estimates for Annual Checkpoint Resistant Advanced Future MDNA11 Development Cancers in the US ~70-90K Potential 100,000 Patients 90,000 MDNA11 has 80,000 the potential to 70,000 expand into Checkpoint 60,000 additional re
Slide 14: MDNA113
MDNA113 Lead Pre-clinical Program PD-1 x IL-2 Bi-specific Molecule First-in-Class Potential with Novel IL-13 Targeted and Conditionally activated Bifunctional Approach
Slide 15: Commercial Interest in anti-PD1 Bi-specifics is Accelerating
Commercial Interest in anti-PD1 Bi-specifics is Accelerating Big Pharma is Facing a Patent Cliff for Checkpoint Inhibitors Approved CPI Keytruda Opdivo Libtayo Tecentriq Imfinzi Bavencio Peak Sales / $30B / 2028 $12B / 2028 TBD / 2035 $6B / 2030 $7B / 2031 TBD / 2036 LoE1 Anti-PD1 Bi-specifics are G
Slide 16: MDNA113 – Precision Immunotherapy at its Finest
MDNA113 – Precision Immunotherapy at its Finest MDNA113 Dual Activation of Cancer Blockbuster potential Fighting Immune Cells MDNA113 is a novel, first-in-class tumor- PD-1 antibody targeted and conditionally activated generating billions in annual sales Medicenna’s bi-functional anti-PD1-IL-2 Super
Slide 17: Bizaxofusp (MDNA55) for Recurrent GBM
Bizaxofusp (MDNA55) for Recurrent GBM A Phase 3-Ready Asset with Orphan Drug Status, Fast Track Status and an FDA-Endorsed Pivotal Phase 3 Trial Design Pursuing a Development and Commercial Partnership
Slide 18: Treatment Paradigm for GBM has NOT Changed in Decades
Treatment Paradigm for GBM has NOT Changed in Decades Adjuvant 100% of patients Diagnosis Surgery Radiotherapy + TEMODAR RELAPSE TEMODAR 85-90% of patients 55% of GBM Temodar- Resistant* 1 GBM is uniformly fatal 25% OPERABLE rGBM 2 Recurrent tumors are less accessible surgically Recurrent tumors 3 N
Slide 19: Single Treatment Doubled Median Overall Survival (OS)
Single Treatment Doubled Median Overall Survival (OS) OS increased by 180% at 12 months and 290% at 24 months when compared to an external control arm (ECA) PS Balanced ECA Bizaxofusp (N = 29.5) (N = 30) OS-12 20.2% 56.7% OS-18 9.8% 33.3% OS-24 5.9% 23.3% OS-30 5.9% 16.7% mOS (months) 7.2 13.5 p-val
Slide 20: Bizaxofusp has $1.3B Sales Potential if Approved for GBM
Bizaxofusp has $1.3B Sales Potential if Approved for GBM, up to $4B if Approved in Other Brain Cancers Metastatic Projected Peak Sales(1) 2L/3L Non-resectable IL-4R Brain rGBM GBM Tumors Renal | Breast | Colon | Leptomeningeal Total market (patients) ~19,000 annually (US/EU) ~22,000 annually (US/EU)
Slide 21: Financials & Catalysts
Financials & Catalysts WY MEDICENNA
Slide 22: Stock and Financial Information
Stock and Financial Information Balance sheet provides cash runway through mid calendar 2026 Capitalization Summary Analyst Coverage TSX | OTCQX MDNA | MDNAF Bloom Burton & Co. Headquarters Toronto, CA David Martin PhD, MBA Market Capitalization $80M CAD3 Jones Research 1,2 Cash $21M CAD Catherine N
Slide 23: Advancing Superkines with First and Best-in-Class Potential
Advancing Superkines with First and Best-in-Class Potential Upcoming Catalysts IL-2 Superagonist: Phase 1/2 Underway with Promising Data in Difficult-to-Treat Tumors MDNA11 Monotherapy Expansion Data (H2/25) Superkine Platform Driving Robust and Complete ABILITY-1 Enrollment (H2/25) Balanced Pipelin
Slide 24: Thank You
Thank You TSX: MDNA OTCQX: MDNAF
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