Medicenna Bolsters Management Team

Appoints Industry Veteran, Dr. Jay Stoudemire, as Chief Scientific Officer

HOUSTON, TX and TORONTO, July 17, 2017 /PRNewswire/ - Medicenna Therapeutics Corp. and its wholly owned subsidiary Medicenna Biopharma Inc. (collectively "Medicenna" or the "Company") (TSXV: MDNA) announced that it has appointed industry veteran Dr. Jay Stoudemire as Chief Scientific Officer.

"Jay's appointment is a key and timely addition to our team as we advance our breakthrough discovery and pre-clinical assets to address unmet needs in oncology," said Dr. Fahar Merchant, CEO.  "He brings a wealth of experience to the Company and together with his extensive network in academia and industry, we expect to speed the pace of collaborations in the exciting sphere of cancer immunotherapy.  We are appreciative of Dr. Sam Denmeade's efforts and contributions as the founding CSO and are pleased that he will continue to play an important role as our scientific advisor," added Dr. Merchant.

"I am excited to join the Medicenna team to progress the development and commercialization of such a promising library of targeted Empowered Cytokines™ and Superkines™ for the treatment of cancer," stated Dr. Stoudemire.

Dr. Stoudemire brings over 25 years of experience in developing novel drug candidates to address unmet medical needs across diverse therapeutic areas. Jay's industrial experience includes both early stage biotechnology and well-established pharmaceutical companies. He has held senior positions at Genentech, Ascenta Therapeutics, Chugai-Roche Pharmaceuticals, Cytel, Genetics Institute, and Xoma.  He has a record of success developing and leading the strategy and execution of both biologic and small molecule drug development programs from lead optimization to product approval including Atemra (tocilizumab), Neumega (Interleukin-11), and INFUSE bone graft (BMP-2).

He joins Medicenna from Mirna Therapeutics (NASDAQ: MIRN), where he was Vice President of Preclinical Development, Regulatory, and Quality Assurance and led the team driving oncology drug development efforts for multiple microRNA-based therapeutics spanning discovery- to clinical-stage programs. Dr. Stoudemire received his Ph.D. in Microbiology from the University of Miami and completed a postdoctoral fellowship at the University of California San Francisco. He is a founding member of the BioSafe Executive Committee, a full member of the Society of Toxicology, and American College of Toxicologists.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this press release. 

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 regarding how promising a library of targeted Empowered Cytokines™ and Superkines™ for the treatment of cancer Medicenna has, that our discovery and pre-clinical assets are considered breakthrough,  that the speed and pace of collaborations related to our pre-clinical programs will improve following Dr. Stoudemire's appointment and others 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 filing statement of the Company dated February 27, 2017 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. 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.