Medicenna Therapeutics Corp. completes C$35M public offering of common shares to fund the development of Medicenna’s drug candidate MDNA19
April 15, 2020
40.25 Million CAD
On March 17, 2020, Medicenna Therapeutics Corp. ("Medicenna") announced the completion of its previously announced public offering of common shares. Pursuant to the offering, Medicenna issued a total of 11,290,323 shares at a price of C$3.10 per offered share for gross proceeds of approximately C$35 million. The offering was made pursuant to an agency agreement entered into among Bloom Burton Securities Inc., as lead agent, Mackie Research Capital Corporation and Haywood Securities Inc. and Medicenna. On April 15, the over-allotment option on the offering was exercised in full for an additional C$5.25 million in proceeds.
The net proceeds of the offering will be used to fund pre-clinical development of Medicenna's lead IL-2 agonist drug candidate MDNA19, manufacturing and clinical development of MDNA19 as well as for general corporate purposes and working capital.
Medicenna is a clinical stage immunotherapy company focused on oncology and the development and commercialization of new cancer treatments.
McCarthy Tétrault advised Medicenna with a team led by Charles-Antoine Soulière and Myreille Gilbert that included Alexandre Saulnier-Marceau, Annie Poirier-Simard (Securities), Marie-Soleil Landry and Quentin Lageix (Tax).