Top 10 global pharmaceutical company, Medicago sign deal to develop non-influenza vaccine

Apr 7 2011

Medicago Inc. (TSX: MDG), a biotechnology company focused on developing highly effective and competitive vaccines based on proprietary manufacturing technologies and Virus-Like Particles (VLPs), today announced that it has entered into a research collaboration agreement for the development of a non-influenza vaccine candidate with a top 10 global pharmaceutical company.

Under the terms of the research collaboration, Medicago will apply its transient expression system to develop a vaccine candidate for a non-disclosed target. Medicago is eligible to receive payments on achievement of specified milestones stipulated in the contract.

"We believe this collaboration represents an important validation of our scientific leadership in vaccines," said Andy Sheldon, President and CEO of Medicago. "The combination of our rapid, efficacious and cost-effective VLP vaccine technology with such an accomplished partner allows us to further demonstrate the capability of our vaccine platform and has the potential to lead to further collaborations."