Medicenna Therapeutics

What Medicenna Therapeutics does

Medicenna Therapeutics is a clinical-stage immunotherapy company developing engineered interleukin-based therapies for cancer and immune-driven diseases. The company operates three proprietary platforms — Superkine (engineered IL-2, IL-4, and IL-13 variants optimized for receptor selectivity, potency, half-life, and tissue distribution), BiSKIT (Bi-functional SuperKine Immuno-Therapy fusing Superkines with antibodies or other proteins to modulate two signaling pathways simultaneously), and T-MASK (Targeted Metallo-protease Activated SuperKines that remain masked in healthy tissue and activate only at disease sites) — built on directed evolution and AI-driven rational design. The clinical pipeline is led by MDNA11, a long-acting beta-enhanced IL-2 Superkine in Phase 1/2 for advanced solid tumors that demonstrated a 36% objective response rate as monotherapy and 43% in combination with pembrolizumab; MDNA113, a first-in-class anti-PD-1 x IL-2 bifunctional Superkine advancing toward IND submission in H2 2026; and bizaxofusp (MDNA55), a Phase 3-ready IL-4-toxin fusion for recurrent glioblastoma that holds FDA Fast Track and Orphan Drug designations. The pipeline also includes preclinical autoimmune and inflammatory candidates MDNA209 and MDNA413.

Medicenna is pre-revenue and operates from Toronto, Canada, with additional offices in Houston, Texas. The company employs between 11 and 50 people and is publicly listed on the TSX under ticker MDNA:CA. Its go-to-market model is enterprise pharma partnering: it pursues co-development, out-licensing, and research collaborations (exemplified by a clinical trial collaboration and supply agreement with Merck for pembrolizumab in the ABILITY-1 study and an investigator-initiated trial with Fondazione Melanoma Onlus in Italy) rather than building its own commercial sales force. Clinical trials run globally across the US, Canada, Australia, Ireland, Portugal, Spain, and Italy. Revenue, when generated, is expected to flow from licensing royalties or partnership upfronts rather than direct product sales, as none of its candidates are approved or commercialized. The company has raised over US$40 million equivalent in equity financings since 2022, including a CA$20 million private placement from RA Capital Management in April 2024, while reporting an $18.4 million net loss for fiscal year 2026 and holding $6.3 million in cash as of March 2026.

Name

Medicenna Therapeutics

Legal name

Medicenna Therapeutics Corp.

Website

https://medicenna.com

Company type

Public

Founded year

2012

Operating status

Operating

Headcount range

11–50 employees

Short description

Medicenna Therapeutics is a clinical-stage immunotherapy company developing engineered interleukin-based therapies through its Superkine, BiSKIT, and T-MASK platforms for cancer, autoimmune, and inflammatory diseases, pursuing partnerships with pharmaceutical companies for development and commercialization.

Ownership category

akta.pro rank

Product category

Immuno-oncology biopharmaceuticals

NAICS

Biological Product (except Diagnostic) Manufacturing (325414), Pharmaceutical Preparation Manufacturing (325412)

SIC

Biological Products, (No Disgnostic Substances) (2836), Pharmaceutical Preparations (2834)

akta.pro primary industry

Cytokines, Interferons & Immunomodulatory Proteins (HLAAAAAC)

akta.pro secondary industries

Immunology & Autoimmune Specialty Pharmaceuticals (HLAIACAB), Oncology & Hematology Pharmaceuticals (HLAIAAAC)

Keywords

• Engineered interleukin therapies
• Cancer immunotherapy drugs
• Superkine biologics platform
• Clinical-stage biopharmaceuticals
• Immuno-oncology pipeline

Headquarters

HQ city

Toronto

HQ country

Canada

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Technology or R&D, Personnel, Operations, Marketing or Sales, Others

Revenue model

1. Therapeutic Product Development and Commercialization: Medicenna is a pre-revenue clinical-stage immunotherapy company. Its revenue model is based on developing and commercializing proprietary interleukin-based therapies for cancer and autoimmune diseases. Revenue will be derived from product sales upon regulatory approval or from licensing/partnership deals with pharmaceutical companies for co-development and commercialization rights.

Go-to-market motion2 records

Distribution channels1 record

Marketing channels5 records

Core offering

Medicenna Therapeutics is a clinical-stage immunotherapy company that develops engineered interleukin-based therapies (Superkines) for cancer and immune-driven diseases. It operates three proprietary platforms — Superkine, BiSKIT, and T-MASK — built on directed evolution and AI-driven rational design, and advances a pipeline of drug candidates including MDNA11 (IL-2 Superkine), MDNA113 (anti-PD-1 x IL-2 BiSKIT), bizaxofusp/MDNA55 (IL-4-toxin fusion for recurrent glioblastoma), MDNA209 and MDNA413 (super-antagonists for autoimmune/inflammatory diseases). Revenue is expected to be generated through product sales and out-licensing/co-development partnerships with pharmaceutical companies.

Product overview

Medicenna Therapeutics is a clinical-stage immunotherapy company developing engineered interleukin-based therapies through three proprietary technology platforms: Superkine (IL-2, IL-4, IL-13 Superkines), BiSKIT (Bi-functional SuperKine Immuno-Therapy), and T-MASK (Targeted Metallo-protease Activated SuperKines). The lead clinical candidate MDNA11 is an IL-2 Superkine in Phase 1/2 for solid tumors, with MDNA113 (anti-PD-1-IL-2 BiSKIT) advancing toward IND submission. The pipeline includes MDNA209 and MDNA413 for autoimmune/inflammatory diseases, and bizaxofusp (MDNA55), a Phase 3-ready IL-4-toxin fusion for recurrent glioblastoma with FDA Fast Track and Orphan Drug designation. Medicenna utilizes directed evolution and AI-driven rational design to engineer interleukins for precision immune modulation.

Differentiator

Problem solved

Functional benefit

Brands

• Superkine: Interleukins engineered to deliver properties that natural interleukins cannot achieve, optimized for receptor selectivity, potency, half-life and tissue distribution.
• BiSKIT (Bi-functional SuperKine Immuno-Therapy)
• T-MASK (Targeted Metallo-protease Activated SuperKines)

Products and services

• MDNA11 Long-acting, beta-enhanced IL-2 Superkine designed to selectively signal through the IL-2 beta receptor on cancer-fighting immune cells, enabling once-every-two-weeks dosing for advanced solid tumors as monotherapy and in combination with pembrolizumab.
• MDNA113 First-in-class tumor-anchored anti-PD-1 x IL-2 bifunctional Superkine (BiSKIT/T-MASK) being developed for solid tumors expressing IL-13Rα2, with a significantly wider therapeutic window than alpha-biased comparators that caused vascular leak syndrome.
• Bizaxofusp (MDNA55) First-in-class IL-4-toxin fusion therapy that selectively targets IL-4R-expressing myeloid-derived suppressor cells in the tumor microenvironment of recurrent glioblastoma, inducing immunogenic cell death; Phase 3-ready with FDA Fast Track and Orphan Drug designations.
• MDNA209 IL-2/IL-15 pathway super antagonist Superkine in preclinical development for autoimmune diseases, designed to selectively dampen pathogenic immune signaling.
• MDNA413 IL-4/IL-13 pathway super antagonist Superkine in preclinical development for inflammatory diseases, designed to selectively modulate type 2 immune signaling.

Quantifiable outcome

• MDNA11 achieved 36% objective response rate as monotherapy and 43% in combination with pembrolizumab in the ABILITY-1 study in patients with solid tumors following checkpoint therapy failure
• +3 more outcomes

Named customers3 records

Segments1 record

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature6 records

Partnerships

Three partnerships are on record, tiered core.

• Merck (MSD) — ABILITY-1 Clinical CollaborationcoreStrategic or Co-development PartnerMedicenna has a clinical trial collaboration and supply agreement with Merck (known as MSD outside the US and Canada) to evaluate MDNA11 in combination with pembrolizumab (KEYTRUDA) in the Phase 1/2 ABILITY-1 study. Medicenna is the study sponsor and Merck supplies pembrolizumab. The collaboration explores combining MDNA11 with checkpoint inhibitors to enhance anti-tumor immune responses.
• Fondazione Melanoma Onlus — NEO-CYT StudycoreStrategic or Co-development PartnerMedicenna is collaborating with Fondazione Melanoma Onlus, a leading Italian melanoma research organization, in an investigator-initiated trial assessing MDNA11 in combination with nivolumab with and without ipilimumab in high-risk, surgically resectable Stage III cutaneous melanoma in the neoadjuvant setting. Fondazione Melanoma is the study sponsor and Medicenna supplies study medication. Led by Professor Paolo A. Ascierto at the Istituto Nazionale Tumori Fondazione G. Pascale in Naples, Italy.
• Bloom Burton Securities Inc.coreChannel Partner/ Reseller/ DistributorBloom Burton Securities Inc. acted as the sole agent for Medicenna's marketed public offering of units in May 2026, raising approximately CDN$4.44 million in gross proceeds. Bloom Burton received a 7% cash commission. The firm is a Canadian healthcare-focused investment bank.

Scale indicators9 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Werewolf Therapeutics: Clinical-stage oncology company developing conditionally activated engineered cytokines (PREDATOR platform) including IL-2 and IL-12 variants for solid tumors. Most direct competitor to Medicenna's Superkine and T-MASK platforms, with a similar mask-based tumor-localization strategy.
• Synthekine: Engineered cytokine company developing optimized IL-2, IL-15, and IL-21 therapeutics for cancer and autoimmune disease. Directly comparable to Medicenna in both cytokine engineering technology and oncology/autoimmune dual focus.
• Xilio Therapeutics: Clinical-stage biotech developing tumor-activated immunotherapies, including masked cytokines (IL-2, IL-12) and IL-15. Shares Medicenna's masked-cytokine (T-MASK-like) approach to localizing immune activation in the tumor microenvironment.
• Cue Biopharma: Clinical-stage company developing IL-2-based biologics (Immuno-STAT platform) that selectively modulate T cell activity for cancer and autoimmune disease. Comparable approach to Medicenna's BiSKIT bispecific cytokine fusions.
• Altor BioScience (NantHealth): Developer of N-803 (nogapendekin alfa inbakicept-pmln), an IL-15 superagonist approved for BCG-unresponsive non-muscle invasive bladder cancer. Closest commercial-stage analog to Medicenna's engineered IL-2/IL-15 cytokine approach.
• Nektar Therapeutics: Developer of NKTR-358 (rezpegaldesleukin), a PEGylated IL-2 for autoimmune disease, and other cytokine-based therapies. Directly comparable to Medicenna's MDNA209 autoimmune program and broader IL-2 engineering pipeline.

Broad incumbents

• Bristol-Myers Squibb: Global pharmaceutical company that developed bempegaldesleukin (PEG-IL-2) and runs multiple IL-2, IL-12, and cytokine programs. Represents the incumbent competitive threat to Medicenna's IL-2 franchise in oncology.
• Merck & Co. Medicenna's clinical trial collaboration partner on MDNA11 + pembrolizumab (KEYTRUDA). As a broad incumbent with established checkpoint franchises and internal cytokine programs, Merck is both a validation partner and a potential long-term competitive threat.
• Roche: Global pharmaceutical company with multiple engineered IL-2 variant programs in oncology and a leadership position in immuno-oncology. Represents the larger-platform incumbent competing in the same cytokine-engineering space as Medicenna.

Emerging players

• Kazia Therapeutics: Clinical-stage oncology company developing paxalisib for glioblastoma and other brain cancers. Relevant emerging peer given overlapping glioblastoma indication with Medicenna's bizaxofusp (MDNA55) program.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/Medicenna1

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Funding overview

Funding rounds8 records

Investors2 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Medicenna Therapeutics