Medicenna Therapeutics Corp. · TSX:MDNA
Medicenna Therapeutics — HC Wainwright 28th Annual Global Investment Conference 2026
27 slides from Medicenna Therapeutics's conference presentation, September 2026
Slide 1: Master the Signal. Navigate Complexity. Create Cures.
Master the Signal. Navigate Complexity. Create Cures. Pipeline positioned for multiple near-term catalysts TSX: MDNA | OTCQX: MDNAF HC Wainwright 28th Annual Global Investment Conference September 14-16, 2026 New York City 2026 MEDICENNA THERAPEUTICS
Slide 2: Disclaimer
Disclaimer 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 Therapeutics Corp’s (the “Company”
Slide 3: Superkines: Harnessing the Immune System to Improve Patient Outcomes
Superkines: Harnessing the Immune System to Improve Patient Outcomes MISSION Superkines DELIVERING IL-2 IL-4 THE NEXT WAVE OF IL-13 IMMUNOTHERAPIES BiSKITs T-MASK Bi-functional Targeted SuperKine Metallo-protease to transform the lives of people living Immuno- Activated SuperKines with cancer, autoi
Slide 4: A Clinical Stage Immunotherapy Company Developing Engineered Cytokines
A Clinical Stage Immunotherapy Company Developing Engineered Cytokines Phase-3 Ready Phase 1/2 IND-enabling Bizaxofusp (MDNA55) MDNA11 MDNA113 IL-4R Targeted Therapy Long-acting IL-2 Superkine Tumor-activated PD-1 x IL-2 • 118 patients treated to-date • ~150 patients treated to-date • Non-human prim
Slide 5: Lead Programs: Upcoming Value Inflection Milestones
Lead Programs: Upcoming Value Inflection Milestones Q4 2026 2027 Bizaxofusp rGBM Oral Presentation Plan/Commence Phase 3 (MDNA55) ABILITY-1: Topline Oral Presentation Plan/Commence Phase 2 MDNA11 NEO-CYT: Interim Data Registrational Trial MDNA113 Complete IND-enabling studies File IND/Commence Phase
Slide 6: Balanced Pipeline of Registrational, Clinical, and Pre-Clinical Programs
Balanced Pipeline of Registrational, Clinical, and Pre-Clinical Programs CANDIDATEa INDICATION PRECLINICAL PHASE 1 PHASE 2 PHASE 3 PARTNER Bizaxofusp Recurrent Glioblastoma IL-4-Toxin Fusion (rGBM) MDNA11 monotherapy ABILITY-1: Phase 1/2 in MDNA11 MDNA11 + KEYTRUDA® various cancers IL-2 Super Agonis
Slide 7: Bizaxofusp (MDNA55)
Bizaxofusp (MDNA55) A Phase 3-ready IL-4R-targeted therapy for glioblastoma (GBM) Doubled median overall survival in Phase 2b Fast Track Orphan Drug ✓ FDA alignment on Designation Designation Phase 3 Design
Slide 8: Treatment Paradigm for GBM has NOT Changed in Decades & GBM is Uniformly Fatal
Treatment Paradigm for GBM has NOT Changed in Decades & GBM is Uniformly Fatal Patient Journey Adjuvant 100% Diagnosis Surgery Radiotherapy + Chemotherapy Chemotherapy of patients 70-85% of patients 55% of GBM Temodar-Resistant* RELAPSE INOPERABLE OPERABLE rGBM rGBM 75% 25% Median overall survival f
Slide 9: Bizaxofusp: A Multi-Pronged Molecular Trojan Horse
Bizaxofusp: A Multi-Pronged Molecular Trojan Horse A first-in-class phase 3-ready IL-4 superkine for recurrent GBM Lethal Payload By-Passes Blood-Brain Barrier Catalytic domain of Intra-tumoral administration avoids systemic pseudomonas Exotoxin A* Targeting Domain toxicity Circularly Permuted Inter
Slide 10: Single Bizaxofusp Treatment: Doubled Median Overall Survival in Phase 2b
Single Bizaxofusp Treatment: Doubled Median Overall Survival in Phase 2b 13.5 months Median Overall Survival vs 7.2 months* External Control Arm (ECA) HR 0.536 p=0.009 ~2x median OS in rGBM *Patients with non-resectable rGBM live 7 months on average: Karschnia et al. Neuro- Oncology, Volume 25, Issu
Slide 11: Bizaxofusp has $1.3B Annual GBM Sales Potential and $4B in other Brain Cancers
Bizaxofusp has $1.3B Annual GBM Sales Potential and $4B in other Brain Cancers Projected Peak Sales(1) Non- Metastatic IL-4R 2L/3L resectable Brain Tumors rGBM Renal | Breast | Colon | GBM Leptomeningeal Total market ~19,000 ~22,000 ~76,000 2L/3L rGBM (patients) annually annually annually $814 (US/E
Slide 12: MDNA11
MDNA11 A long-acting, β-enhanced, not-α IL-2 superagonist designed to preferentially activate cancer-fighting immune cells ABILITY-1 NEO-CYT Data Updates Q4 2026 Phase 1/2 Phase 1b
Slide 13: MDNA11 is a Differentiated Next-Gen IL-2 with Best-in-Class Potential
MDNA11 is a Differentiated Next-Gen IL-2 with Best-in-Class Potential WILD-TYPE IL-2 2ND GENERATION IL-2 NEXT-GENERATION IL-2 1998 2015 2017 2018 Present • An IL-2 agonist, was the first-ever • 2nd generation programs discontinued, • ABILITY-1 Study (in Collaboration with Merck): Phase immunotherapy
Slide 14: MDNA11: A Unique 'β-enhanced Not-α' IL-2 Albumin-fused Superkine
MDNA11: A Unique ‘β-enhanced Not-α’ IL-2 Albumin-fused Superkine Engineered IL-2 ← LINKER → Human Albumin Superior Abolish Enhance Novel Improved Anti-Cancer α Binding ✚ β Binding ✚ Pharmacology ✚ PK profile Response DECREASED Tregs INCREASED Effector Cell Activation INCREASED Half-Life IMPROVED Saf
Slide 15: Medicenna's β-enhanced IL-2 Approach: Validated by Independent Labs Worldwide
Medicenna’s β-enhanced IL-2 Approach: Validated by Independent Labs Worldwide Synergy with mRNA Cancer Armored CAR-T Tumor-triggered IL-2 Vaccines Production By CAR-T Ugur Sahin’s Yina Huang’s Wendell lab lab Lim’s lab Tumor-Selective Synergy with STING Agonist Boost TILs inside TME Immune Amplifier
Slide 16: MDNA11 Aims to Address Unmet Needs in Patients Resistant to Checkpoint Therapy
MDNA11 Aims to Address Unmet Needs in Patients Resistant to Checkpoint Therapy Approved Checkpoint Therapy KEYTRUDA® OPDIVO® LIBTAYO® TECENTRIQ® IMFINZI® 2025 Revenue / Loss of Exclusivity* $30B / 2028 $12B / 2028 $2B / 2035 $6B / 2030 $7B / 2031 ~$60B annual sales of but only ~30% of patients benef
Slide 17: Two Ongoing Clinical Trials Designed to Inform Registrational Development
Two Ongoing Clinical Trials Designed to Inform Registrational Development ABILITY-1 evaluating MDNA11 after checkpoint therapy NEO-CYT evaluating MDNA11 before surgery in earlier-stage melanoma ABILITY-1 NCT05086692 NEO-CYT EUCT 2024-519010-31-00 Phase 1/2 Trial in Advanced Solid Tumors Phase 1b Tri
Slide 18: MDNA113
MDNA113 A first-in-class tumor-targeted and tumor-activated anti-PD-1 x IL-2 bifunctional superkine IND-enabling studies underway First-in-class IL-13Rα2 Conditional bifunctional anchoring Activation
Slide 19: Anti-PD-1 Bispecifics Have Emerged to Deal with the 2028 Patent Cliff
‘Anti-PD-1 Bispecifics’ Have Emerged to Deal with the 2028 Patent Cliff of the World’s Best-Selling Cancer Therapies Ivonescimab LM-299 The Space has Seen ~$38B USD Aggregate Transaction Value Over the Past 24 months • PD-(L)1 x VEGF combinations dominate early wave of transactions BNT327 SSGJ-707 •
Slide 20: MDNA113: A Differentiated First-in-Class, Tumor Anchored Anti-PD1 x IL-2
MDNA113: A Differentiated First-in-Class, Tumor Anchored Anti-PD1 x IL-2 Bi-functional Molecule 1 IL-13Rα2 tumor 2 Clinically 3 Commercially MDNA113 targeting Validated IL-2 Validated anti-PD1 Anti-PD-1 Binds to IL-13Rα2 IL-2 is masked peripherally Once activated: expressing tumors and and activated
Slide 21: First-in-Class: MDNA113 Has a Significant Market Opportunity
First-in-Class: MDNA113 Has a Significant Market Opportunity IL-13Rα2 Expression is Associated with >2 Million Tumors Express IL-13Rα2 Every Year Poor Survival Across Various Cancers 1. Hou et al., J Cancer Res & Clinical oncol (2009); 2. Papageorgis et al., Br Cancer Res (2015); 3. Joshi et al., Ca
Slide 22: Targeting IL-13Rα2: MDNA113 is Designed to Overcome Limitations of Other PD-1/IL-2 Programs
Targeting IL-13Rα2: MDNA113 is Designed to Overcome Limitations of Other PD-1/IL-2 Programs PD-1 Blocking No IL-2Rα Affinity Enhanced IL-2Rβγ Affinity IL-2 Single Agent Activity in CPI Resistant Patients Tumor Targeting Conditional Activation MDNA113 IBI363/TAK-928 REGN10597 AWT020 XTX501 IND-enabli
Slide 23: Autoimmune and Inflammatory: Expanding our Superkines Beyond Oncology
Autoimmune and Inflammatory: Expanding our Superkines Beyond Oncology 2026 MEDICENNA THERAPEUTICS 23
Slide 24: Stock and Financial Information
Stock and Financial Information Cash runway extends through key near-term milestones into the second quarter of calendar 2027 Capitalization Summary ANALYST COVERAGE TSX | OTCQX MDNA | MDNAF Bloom Burton & Co. Headquarters Toronto, CA David Martin PhD, MBA Market Capitalization $40M CAD Lucid Capita
Slide 25: Upcoming Catalysts Across the Pipeline
Upcoming Catalysts Across the Pipeline Program Timing Catalyst Q4 2026 Updated Data Oral presentation Bizaxofusp Ongoing Partnering and Phase 3 Planning Q3 2026 Complete Enrollment (N=150) MDNA11 Q4 2026 ABILITY-1 Topline Oral Q4 2026 NEO-CYT Interim Data Takeaway H1 2027 IND submission MDNA113 H1 2
Slide 26: Thank you
Thank you Investor Relations ir@medicenna.com www.medicenna.com TSX: MDNA | OTCQX: MDNAF 2026 MEDICENNA THERAPEUTICS
Slide 27: Extensive Independent Validation of IL-2 Superkine Platform
Extensive Independent Validation of IL-2 Superkine Platform Author/Publication Title MDNA109 Platform Macrophage-targeted immunocytokine leverages myeloid, T, and NK cell synergy for MiTEs (αTREM2–IL-2 H9 “superkine”; IL-2SK) in the article correspond to the von Locquenghien, M et al., Cell 2025 can
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