Ms. Christina Cameron reports

MEDICENNA ANNOUNCES APPOINTMENT OF NEW AUDITOR

Medicenna Therapeutics Corp. has appointed MNP LLP (the successor auditor) as auditor. The board of directors of the company accepted the resignation of PricewaterhouseCooper LLP (the former auditor) and appointed MNP as the new auditor until the next annual general meeting of shareholders of the company.

The company confirms that there have been no reservations or modified opinions in the former auditor's report for the two most recently completed financial years or for any period subsequent to the most recently completed period for which an audit report was issued. The company's board of directors and audit committee each approved the resignation of the former auditor and the appointment of MNP. There were no reportable events, as the term is defined in National Instrument 51-102 -- Continuous Disclosure Obligations (NI 51-102), in connection with each of the former auditor's audits of the company which occurred prior to its resignation as auditor of the company; and the required notices of change of auditor were approved by the company's board of directors.

In accordance with NI 51-102, the notices, together with the required letters from the former auditor and MNP, have been reviewed by the audit committee and the board of directors and have been filed on SEDAR+.

In addition, Medicenna has engaged Tandem Accounting Group Ltd. to manage the company's financial reporting and internal bookkeeping requirements on a contract basis. The Tandem team is co-led by Sean Hodgins, CPA, CPA (Illinois), and David Hyman, CPA, CBV. Mr. Hodgins was the founding CFO (chief financial officer) of Medicenna and is the current contract CFO of several public Canadian companies. Mr. Hodgins is the founder of Tandem and brings a wealth of public company reporting experience to the company. Mr. Hyman is a seasoned financial professional with over 25 years of broad financial experience which includes public practice, capital markets, private equity and CFO positions in both public and private companies in Canada.

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 (glioblastoma), 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.