TORONTO and HOUSTON, Dec. 5,
2018 /PRNewswire/ - Medicenna Therapeutics Corp.
("Medicenna" or the "Company") (TSX: MDNA; OTCQB: MDNAF), a
clinical stage immuno-oncology company, announced today that it has
received US$1,224,540 (approximately,
CD$1.6M) from the Cancer Prevention and Research Institute of
Texas ("CPRIT"). The payment is
part of a total non-dilutive grant of up to US$14.1 million which is repayable out of
potential future revenues associated with commercial sale of
products developed with the grant proceeds.
The funds received represent a partial reimbursement for
eligible expenditures incurred by Medicenna related to the MDNA55
Phase 2b clinical trial for the
treatment of recurrent glioblastoma, the most common and uniformly
fatal form of brain cancer.
About Medicenna
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. Medicenna's
wholly owned subsidiary, Houston-based Medicenna BioPharma, is
specifically targeting the Interleukin-4 Receptor (IL4R), which is
over-expressed by at least 20 different types of cancer affecting
more than one million new cancer patients every year. Supported by
a significant non-dilutive grant from CPRIT, Medicenna's lead
IL4-EC, MDNA55 is enrolling patients in a
Phase 2b clinical trial for recurrent glioblastoma
(rGBM), the most common and uniformly fatal form of brain cancer,
at top-ranked brain cancer centres in the US. MDNA55 has completed
three clinical trials in 72 patients, including 66 adults with
rGBM, demonstrated compelling efficacy and obtained Fast-Track and
Orphan Drug status from the FDA and FDA/EMA respectively. For more
information, please visit www.medicenna.com.
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SOURCE Medicenna Therapeutics Corp.