Medicenna Therapeutics (MDNA) Lytham Partners Spring 2026 Investor Conference summary

Strategic focus and pipeline overview

• Focus on developing engineered cytokines (Superkines) for cancer, autoimmune, and inflammatory diseases, targeting IL-2, IL-4, and IL-13.

• Pipeline includes early, mid, and late-stage assets, with emphasis on clinical and near-clinical programs.

• Platforms include BiSKITs (bifunctional superkines) and T-MASK (tumor-targeted masking technology).

Clinical program highlights

• Bizaxofusp (MDNA55) for recurrent glioblastoma completed phase II, with phase III planned in partnership; potential for $4B market.

• MDNA11, a long-acting IL-2 superkine, in phase I/II trials for solid tumors and melanoma, showing strong activity in checkpoint inhibitor-resistant patients.

• MDNA113, a bispecific anti-PD-1/IL-2 molecule, aims to combine efficacy and safety, with IND submission and clinical trial start planned by year-end.

Key data and market opportunities

• Bizaxofusp doubled or tripled survival in recurrent glioblastoma compared to standard care, with some patients surviving up to four years.

• MDNA11 demonstrated 36% response as monotherapy and 43% in combination with pembrolizumab in checkpoint inhibitor-failed patients.

• MDNA113 leverages a masked, tumor-targeted approach to reduce toxicity and enhance efficacy, with non-human primate data supporting high-dose safety.

• Bispecifics market has seen $38B in transactions over 24 months, highlighting strong industry interest.