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THE UNITED STATES OR THROUGH U.S.
NEWSWIRE SERVICES./
TORONTO and HOUSTON, March 3,
2020 /CNW/ - Medicenna Therapeutics Corp.
("Medicenna" or the "Company") (TSX: MDNA), a
clinical stage immuno-oncology company, announced today that it has
filed and been receipted for a preliminary short form prospectus
(the "Preliminary Prospectus") with securities regulatory
authorities in the provinces of Ontario, British
Columbia and Alberta
pursuant to National Instrument 44-101 Short Form Prospectus
Distributions, in connection with a proposed marketed offering
(the "Offering") of common shares of the Company (the
"Offered Shares"). The Offering is being led by Bloom Burton
Securities Inc. (the "Lead Agent") on behalf of a syndicate
including Mackie Research Capital Corp. and Haywood Securities
Inc.
The size of the Offering and the price of each Offered Share,
will be determined by negotiation between the Company and the Lead
Agent in the context of the market with final terms to be
determined at the time of pricing. The Preliminary Prospectus is
subject to completion and amendment.
The net proceeds of the Offering will be used to fund
pre-clinical development of the Company's lead IL-2 agonist drug
candidate MDNA19, the manufacturing of MDNA19 and general corporate
and working capital purposes. Further details are disclosed in the
Preliminary Prospectus, available at www.sedar.com.
The Offering is subject to a number of customary conditions,
including, without limitation, receipt of all regulatory and stock
exchange approvals.
The Offered Shares have not been registered under the United
States Securities Act of 1933, as amended, or applicable state
securities laws, and may not be offered or sold in the United States absent registration or an
exemption from such registration requirements. This news
release shall not constitute an offer to sell or the solicitation
of an offer to buy, nor shall there be any sale of the Offered
Shares, in any province, state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of such province, state or
jurisdiction.
About Medicenna Therapeutics Corp.
Medicenna is a clinical stage immunotherapy company focused on
oncology and the development and commercialization of novel, highly
selective versions of IL-2, IL-4 and IL-13 Superkines and first in
class Empowered Cytokines™ (ECs) for the treatment of a broad range
of cancers. Supported by a US$14.1M
non-dilutive grant from CPRIT (Cancer Prevention and Research
Institute of Texas), Medicenna's
lead IL4-EC, MDNA55, has completed enrolling patients in a Phase
2b clinical trial for rGBM, the most
common and uniformly fatal form of brain cancer, at top-ranked
brain cancer centres in the US. MDNA55 has been studied in five
clinical trials involving 132 patients, including 112 adults with
rGBM. MDNA55 has demonstrated compelling efficacy and has obtained
Fast-Track and Orphan Drug status from the FDA and FDA/EMA
respectively. For more information, please visit
www.medicenna.com.
This news release contains forward-looking statements
relating to the future operations of the Company and other
statements that are not historical facts. Forward-looking
statements are often identified by terms such as "will", "may",
"should", "anticipate", "expects" and similar expressions. All
statements other than statements of historical fact, included in
this release, including, without limitation, statements related to
the Offering, the expected use of proceeds of the Offering and the
future plans and objectives of the Company, are forward-looking
statements that involve risks and uncertainties. There can be no
assurance that such statements will prove to be accurate and actual
results and future events could differ materially from those
anticipated in such statements. Important factors that could cause
actual results to differ materially from the Company's expectations
include the risks detailed in the annual information form of the
Company dated June 24, 2019 and in
other filings made by the Company with the applicable securities
regulators from time to time.
The reader is cautioned that assumptions used in the
preparation of any forward-looking information may prove to be
incorrect and that study results could change over time
as the study is continuing to follow up all patients and new data
are continually being received which could materially change study
results. 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 control of the Company. The reader is
cautioned not to place undue reliance on any forward-looking
information. Such information, although considered reasonable by
management at the time of preparation, may prove to be incorrect
and actual results may differ materially from those anticipated.
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 of this news release and the Company will update or
revise publicly any of the included forward-looking statements only
as expressly required by Canadian securities law.
SOURCE Medicenna Therapeutics Corp.