Released: Friday 26th March 2021

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Medannex sweeps the board at Scotland’s Life Sciences Annual Awards

Medannex Ltd (Edinburgh) this week received multiple awards in recognition of notable successes in
several key areas. The late-stage biopharmaceutical company, developing novel treatments for cancers
and autoimmune diseases, was declared the winner in all three categories in which it was nominated at
Scotland’s Life Sciences Annual Awards.

Medannex received its first award, ‘Investment of the Year’, in recognition of the company’s £11m Series
B funding round led by Boston-based global Life Sciences investor Morningside Ventures and supported
by The Scottish Investment Bank. The investment represented a significant endorsement of Medannex’s
clinical development work and has allowed the company to undergo rapid expansion in preparation for a
First-in-Human clinical study, due to be initiated later this year.

For its second award of the evening, ‘Outstanding Skills Development’, Medannex overcame a very
strong field including German multinational Merck and the School for Health, Science and Technology,
Livingston. The award acknowledged Medannex’s programme of internships and student placements,
including collaborations with several leading Scottish universities.

Medannex’s Chief Executive Officer, Ian Abercrombie, said “Receiving these prestigious awards is a
wonderful acknowledgment of the team’s dedication and hard work and a recognition of the very
exciting technology we are developing.”

The climax of the evening was the ‘Lifetime Achievement Award’, presented to Medannex’s founder and
Chairman, Professor Chris Wood. A fellow of the Royal College of Surgeons of Edinburgh, Professor Wood
has had a huge impact on Life Sciences in Scotland, founding and managing numerous successful
biotechnology companies, providing new treatment options for many thousands of patients and
mentoring several leaders within the sector.

Professor Wood said “It is a huge honour to receive the Lifetime Achievement Award in recognition of my
work and I’m grateful to the people who have helped and supported me to make it all possible.”

Scotland’s Life Sciences Awards were presented in a virtual ceremony on 24 March 2021 by Ivan McKee,
the Scottish Government’s Minister for Trade, Innovation and Public Finance. An in-person celebratory
event is due to be held in Glasgow in November 2021.