Medicago and PATH partner on development of broad coverage influenza vaccine

Medicago Inc. (TSX: MDG), a biotechnology company focused on developing highly effective and affordable vaccines based on proprietary manufacturing technologies and Virus-Like Particles (VLPs), today announced that it has been awarded $946,000 in funding by U.S.-based PATH pursuant to a research collaboration agreement. Medicago and PATH will work together on a broad coverage influenza vaccine based on Medicago's proprietary plant-based Virus-Like Particle (VLP) technologies for the developing world.

PATH is an international global health nonprofit organization that collaborates with private and public-sector partners as part of its influenza vaccine project to advance the development of promising new influenza vaccines that can be affordable and accessible for people in low-resource countries.

"We are very proud to be selected to collaborate with PATH on a vaccine that has the potential to impact health conditions in the developing world. This collaboration further recognizes the promise of our VLPs," said Andy Sheldon, President and CEO of Medicago. "Moreover, this collaboration with PATH is in line with our global strategy of development in emerging countries where we believe our plant-based manufacturing technology can offer a unique cost-effective solution."

"A technology that can respond quickly with high capacity, and produce safe, affordable and efficacious vaccines against influenza for low-resource countries is of very high value," said Dr. Kathleen Neuzil, director of PATH's influenza vaccine project. "This collaboration with Medicago fits well with our goal to make influenza vaccines more affordable and accessible for the global population."