Medannex

Executive Summary

Medannex is a clinical-stage Scottish biopharmaceutical company focused on targeting annexin-A1, a protein implicated in cancer progression and immune evasion. Its lead candidate, MDX-124, is a monoclonal antibody designed to block annexin-A1 activity, potentially offering a novel therapeutic approach for solid tumors. The company initiated a first-in-human Phase 1 study in late 2025, led by Professor Daniel Palmer at Liverpool Clinical, with the aim of establishing safety, tolerability, and preliminary efficacy. Medannex’s approach is differentiated by its focus on a largely unexplored target, which could address significant unmet needs in oncology. Founded in 2017 and headquartered in Edinburgh, UK, Medannex remains privately held with no disclosed funding rounds or valuation. Its early-stage status and absence of commercial products underscore the high-risk, high-reward nature of its pipeline. The company competes in the antibodies and biologics space, where annexin-A1 targeting could yield first-in-class therapies if clinical data prove positive.

Upcoming Catalysts (preview)

• Q3 2026Phase 1 Interim Safety Data Readout15% success
• H2 2026Partnership or Licensing Deal for MDX-12410% success
• Q1 2027Regulatory Clearance for Phase 2 Expansion20% success