Medannex

About Medannex

Medannex is a clinical-stage biopharmaceutical company, founded in 2009 by Professor Chris Wood and Hugh Griffith, developing treatments for cancer and autoimmune diseases. Based in Edinburgh, Scotland, the company's primary focus is on targeting annexin-A1, a protein implicated in the development of numerous cancers and autoimmune conditions. Professor Wood is a serial life sciences entrepreneur and a fellow of the Royal College of Surgeons of Edinburgh, whose work has been recognized with a 'Lifetime Achievement Award' at Scotland's Life Sciences Annual Awards in 2021.

The company's lead product, MDX-124, is a first-in-class humanized monoclonal antibody designed to specifically target and inhibit annexin-A1. This protein is often overexpressed in various cancers—including pancreatic, triple-negative breast, colorectal, and lung—and is associated with poor patient outcomes. By blocking annexin-A1, MDX-124 aims to inhibit cancer cell growth and migration, and modulate the immune system to attack tumors. Pre-clinical studies have shown that MDX-124 can significantly reduce cancer cell proliferation and demonstrates powerful synergy when combined with standard-of-care chemotherapies and anti-PD-1 immunotherapies.

Medannex initiated its first-in-human Phase Ib clinical trial, called ATTAINMENT, in August 2023 to evaluate the safety and tolerability of MDX-124 in patients with advanced solid malignancies. The study is progressing through dose escalation with no dose-limiting toxicities observed. The company has received an Innovate UK grant to prepare MDX-124 for a clinical study in pediatric osteosarcoma and has been granted Orphan Designation by the FDA and EMA for pancreatic cancer. The company's business model revolves around the clinical development and subsequent commercialization of its proprietary antibody technology. Funding has been secured through several rounds, including an £11 million Series B round in 2019 led by Morningside Ventures and the Scottish Investment Bank. Medannex collaborates extensively with academic and clinical institutions, including the University of Oxford, Mayo Clinic, and University of Glasgow, to advance its research.