Forward Looking Statements Certain statements in this presentation - PowerPoint PPT Presentation

One Target. Infinite Hope ™ … Corporate Presentation Fall 2017 TSX: MDNA 1

Forward Looking Statements Certain statements in this presentation are “forward-looking statements. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always using words or phrases such as “expect”, “seek”, “endeavour”, “anticipate”, “plan”, “estimate”, “believe”, “intend”, or stating that certain actions, events or results may, could, would, might or will occur or be taken, or achieved) are not statements of historical fact and may be “forward-looking statements”. Forward-looking statements are based on expectations, estimates and projections at the time the statements are made that involve a number of risks and uncertainties which would cause actual results or events to differ materially from those presently anticipated. Forward-looking statements are based on expectations, estimates and projections at the time the statements are made and involve significant known and unknown risks, uncertainties and assumptions. A number of factors could cause actual results, performance or achievements to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking statements. These include, but are not limited to, the risk factors discussed in the public filings made by Medicenna with the applicable securities commissions in Canada, including the Annual Information Form dated June 15, 2017. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results, performance or achievements could vary materially from those expressed or implied by the forward-looking statements contained in this document. These factors should be considered carefully and prospective investors should not place undue reliance on these forward-looking statements. Although the forward-looking statements contained in this document are based upon what Medicenna currently believes to be reasonable assumptions, Medicenna cannot assure prospective investors that actual results, performance or achievements will be consistent with these forward-looking statements. Except as required by law, Medicenna does not have any obligation to advise any person if it becomes aware of any inaccuracy in or omission from any forward-looking statement, nor does it intend, or assume any obligation, to update or revise these forward-looking statements to reflect new events or circumstances. One Target. Infinite Hope ™ … TSX: MDNA 2

Corporate Highlights Exciting pre-clinical IL-2, IL-4 and MDNA55 (lead): Compelling, Phase 1 IL-13 Superkine platform and 2 clinical data (N=66) for recurrent glioblastoma (rGBM) Technology platform protected by 13 patent families Publicly listed (TSX: MDNA ), clinical-stage, immuno-oncology company developing novel therapies targeting the Type 2 Well funded with $14M US non-dilutive Interleukin-4 Receptor (IL4R) grant and $14M CAD Private Placement MDNA55 has Orphan Drug (FDA, EMA) & Well established cGMP compliant Fast Track Designations (FDA) commercial scale manufacturing process Currently enrolling in a Phase 2b recurrent Seasoned management, advisors and GBM trial at 9 centers in the U.S. directors One Target. Infinite Hope ™ … 3

Seasoned Management & Experienced Board Management Team Board of Directors Elizabeth Williams, CPA,CA Chandra Panchal, PhD Fahar Merchant, PhD Fahar Merchant, PhD Chief Financial Officer Independent Director Chairman, President & CEO Chairman, President & CEO Former VP Finance & Admin Founder, Chairman and CEO of Former CEO Sophiris Bio and interim CFO at Aptose Axcelon; Former Co-Founder, (TSX); Former Director, Albert Beraldo, CPA, CA (TSX and Nasdaq); Previously President, and CEO of Procyon President & CTO at KS Independent Director with Ernst & Young Biopharma Inc (TSX); Former Biomedix (LSE); Founder, Founder, President and CEO of Senior Executive VP of President & CEO of Avicenna Alveda Pharmaceuticals until its Business Development at Martin Bexon, MD Medica and IntelliGene acquisition by Teligent, Inc. Ambrilia Biopharma Inc. (TSX). Head of Clinical Development Expressions (NASDAQ: TLGT); Former Former Medical Director at Andrew Strong, JD CSL Behring; Medical Director President and CEO of Bioniche Jay Stoudemire, PhD at Hoffman La Roche (UK and Independent Director (TSX). Switzerland) Partner at Pillsbury Winthrop Chief Scientific Officer Shaw Pittman - leading the Life William W. Li, M.D. Former VP Preclinical Sciences Team in Houston, Patrick Ward, MBA Independent Director Development, Regulatory, and TX. Formerly CEO of Kalon Chief Operating Officer CEO, President and Co- QA at Mirna Therapeutics, Biotherapeutics. Director of Former COO of Aviara Founder of the Angiogenesis previously at Genentech, Ashford Hospitality Prime Pharma; President/COO at Foundation. Executive Ascenta, Chugai-Roche, Cytel, (NYSE) Ocusoft, Executive Director at strategic consultant to pharma Genetics Institute, and Xoma Encysive Pharma in drug development and Nina Merchant, M.E.Sc advised leaders at major Nina Merchant, MESc. Director, Chief Development Shafique Fidai, PhD investment banks. Director of Chief Development Officer Officer Former SVP Development at Head of Corp Development Leap Therapeutics (NASDAQ) Sophiris Bio; Formerly VP Former VP of Business Development at KS Biomedix Development at Sophiris Bio; Formerly with Xenon Pharma, (LSE); Previously at Avicenna Medica, IntelliGene, Pharmacia Chromos and Sanofi Pasteur One Target. Infinite Hope ™ … 4

World Class Advisors and Collaborators Clinical & Scientific Advisors Collaborators & Inventors Guido Kroemer, MD, PhD Michael Rosenblum, PhD Chris Garcia, PhD John Sampson, MD, PhD, University of Paris MD Anderson Cancer Center Stanford University MBA Chair: SAB and Expert in Co-Inventor of IL-2, IL-4 and Head, Immunopharmacology Duke University Cancer Immunotherapy IL-13 Superkines and Targeted Therapy Principal Investigator and Collaborator: MDNA57 Expert in Drug Delivery to the Haya Loberboum Galski, Ralph Smalling, MSc Brain PhD Raj Puri, MD Regulatory Advisor Hebrew University of USFDA Former VP Regulatory Affairs Sam Denmeade, MD Jerusalem Director at CBER at Amgen; Filed 40 INDs; 5 Inventor of Fully Human John Hopkins University Inventor of MDNA55 NDAs Payloads) Professor of Oncology: Targeted therapies for cancer Aaron Ring, MD, PhD Yale University Nicholas Butowski, MD Asst. Prof Immunobiology & University of California San Cancer Biology Francisco Co-Inventor of IL-2 Principal Investigator; Novel Superkines therapies for brain cancer One Target. Infinite Hope ™ … 5

Treatment Pathway for Glioblastoma (GBM) GB is uniformly fatal; virtually all tumors will recur (rGB) GB Diagnosis Surgery Radiotherapy Chemotherapy (85-90%) + Chemotherapy 55% of GBM Chemo-Resistant* 25% 75% Relapse OPERABLE rGBM NON-OPERABLE rGBM MDNA55 Treatment Add’l Chemotherapy Surgery or Experimental Therapies (Direct infusion into tumor - CED) * Expression of the DNA repair protein O6-methylguanine-DNA methyltransferase (MGMT) is responsible for resistance to alkylating agents used in GBM treatment. One Target. Infinite Hope ™ … 6

MDNA55 Targeted Dual-Action Immunotherapeutic A Powerful Molecular Trojan Horse Tumor Targeting Domain Tumor Killing “Cytotoxic” Domain Circularly Permuted Catalytic domain of Pseudomonas Interleukin-4 (cpIL-4) Exotoxin A (PE)  Potently toxic to tumor cells with a wide therapeutic window  Simultaneously purges the Tumor Microenvironment (TME) and un-blinds the immune system to cancer cells  Proven payload efficacy– identical to Medimmune’s anti-CD22 immunotoxin, Moxetumomab Pasudotox, currently in PhIII trial for Hairy Cell Leukemia 1 One Target. Infinite Hope ™ … 7

Mechanism of Action of MDNA55 MDNA55 Efficient intracellular delivery of Toxin Payload Endocytosis ADP Ribosylation Inhibits Protein NUCLEUS Synthesis - Apoptosis One Target. Infinite Hope ™ … 8

MDNA55 Brain Cancer Market Opportunity Annual Incidence Projected Market Tumor Type Recurrent Glioblastoma 33,300 $650M (rGB) Metastatic Brain Cancer 91,500 $1.30B Pediatric Glioma 3,800 $50M TOTAL 133,500 $2.0B One Target. Infinite Hope ™ … 9

Current Therapies Do Not Address Key Challenges Therapeutic Challenges Rationale for MDNA55  55% of GBMs are chemo-resistant 1  MDNA55 targets resistant tumors 3  Immunosuppressive tumor  IL4R over-expressed in GBM and its microenvironment (TME) comprises TME (Myeloid Derived Suppressor 40% of GBM tumor mass 2 Cells) but not in normal brain 4  Blood Brain Barrier (BBB) blocks  Delivery by direct injection (CED) of transport of therapeutic to tumor MDNA55 by-passes the BBB  High doses are required due to  Precision delivery achieves high BBB causing systemic toxicities doses without systemic exposure 1. Hegi ME (2005). N Engl J Med;352(10):997-1003. 2. Kennedy B, et al (2013). J Oncol. Vo; 2013: 486912. 3. Shimamura, et al.(2007.Cancer Res;67:9903-9912. 4. Kohanbash et al (2013).Cancer Res.;73(21):6413-23 One Target. Infinite Hope ™ … 10