Ms. Christina Cameron reports

MEDICENNA EXTENDS PERIOD TO EXERCISE CERTAIN WARRANTS

Medicenna Therapeutics Corp. has received conditional approval from the Toronto Stock Exchange to extend the expiry date of the common share purchase warrants of the company originally issued on Dec. 21, 2018. The warrants, of which 1,103,000 are available to be extended, are exercisable for common shares of the company at a price of $1.20 per common share and are set to expire on Dec. 21, 2023. The extension will not apply to the aggregate of 200,000 warrants held by insiders of the company.

The company has extended the expiry date of such warrants until July 31, 2024. The amendment will be effective 10 business days after Dec. 21, 2023. Warrantholders will have the ability to exercise their warrants after such period has expired. All other terms of the warrants, including the exercise price, remain unchanged.

About Medicenna Therapeutics Corp.

Medicenna is a clinical-stage immunotherapy company focused on developing novel, highly selective versions of IL-2, IL-4 and IL-13 superkines and first-in-class empowered superkines. Medicenna's long-acting IL-2 superkine, MDNA11, is a next-generation IL-2 with superior affinity toward CD122 (IL-2 receptor beta) with no CD25 (IL-2 receptor alpha) binding, thereby preferentially stimulating cancer-killing effector T-cells and NK cells. Medicenna's IL-4 empowered superkine, bizaxofusp (formerly MDNA55), has been studied in five clinical trials enrolling over 130 patients, including a phase 2b trial for recurrent GBM, the most common and uniformly fatal form of brain cancer. Bizaxofusp has obtained fast-track and orphan drug status from the Food and Drug Administration and FDA/European Medicines Agency, respectively. Medicenna's early-stage BiSKITs (bifunctional superkine immunotherapies) and the T-Mask (targeted metalloprotease activated superkine) programs are designed to enhance the ability of superkines to treat immunologically cold tumours.

We seek Safe Harbor.