Medicago named recipient of two prestigious awards for its innovation and outstanding growth

- 2011 "Prix Santé" presented by the Armand-Frappier Foundation -
- 2011 Genesis Entrepreneurship Award presented by BIOQuebec -

QUEBEC CITY, June 22, 2011 /CNW/ - 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), announced today that it was named this month both the recipient of the 2011 "Prix Santé" awarded by the Armand-Frappier Foundation and the recipient of the Genesis Entrepreneurship Award for its outstanding growth.

"These awards recognize our innovative VLP vaccine technology and the significant progress we have made from a scientific, financial and operational perspective," said Andy Sheldon, President and CEO of Medicago. "This success could not have been achieved without the dedication of the entire Medicago team, and we look forward to continued success in the clinical advancement of our rapid and cost-effective plant-based vaccines."

Le Prix Santé recognizes success by Quebec companies in the human health, animal health, environmental and agro-food fields. In order to qualify, companies must have conceived, developed and commercialized a scientific innovation.

Started in 2001 by BIOQuébec, the Genesis Awards seek to recognize entrepreneurship, innovation and technology transfer Quebec companies, and to honour individual pre-eminence among the personalities who have played a key role in the growth of Québec's life sciences industry. The entrepreneurship award is given to a company that has achieved outstanding growth results due to the leadership of its management team. In 2009, Medicago received the Genesis Award for Innovation.

About the Armand-Frappier Foundation

The Armand-Frappier Foundation is a non-profit organization that encourages excellence in the training of the next generation of scientists and the advancement of health research in its areas of interest. Since its inception in 1978, the Foundation has distributed more than $8 million in the form of scholarships, research chairs, equipment purchases or contributions to scientific projects. The Fete Champetre, a true celebration of healthcare research, is the high point of its fund-raising activities and is considered a not-to-be-missed occasion by the business and life-science milieus.

About BIOQuébec

BIOQuebec is a biotechnology and life science industry association representing more than 100 member companies and R&D centers in Quebec. The association works to create a positive influence on the growth of the life science industry, including capital access, public policy, workforce development and international promotion.

About Medicago

Medicago is a clinical-stage biotechnology company, developing effective and competitive vaccines based on proprietary Virus-Like Particles (VLP) and manufacturing technologies. Medicago is developing VLP vaccines to protect against pandemic and seasonal influenza, using a transient expression system which produces recombinant vaccine antigens in non-transgenic plants. This technology has potential to offer advantages of speed and cost over competitive technologies. It could deliver a vaccine for testing in about a month after the identification and reception of the genetic sequence. This production time frame has the potential to allow vaccination of the population before the first wave of a pandemic strikes and to supply large volumes of vaccine antigens to the world market. Additional information about Medicago is available at www.medicago.com.

Forward Looking Statements

This news release includes certain forward-looking statements that are based upon current expectations, which involve risks and uncertainties associated with Medicago's business and the environment in which the business operates. Any statements contained herein that are not statements of historical facts may be deemed to be forward-looking, including those identified by the expressions "anticipate", "believe", "plan", "estimate", "expect", "intend", and similar expressions to the extent they relate to Medicago or its management. The forward-looking statements are not historical facts, but reflect Medicago's current expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations, including the matters discussed under "Risks Factors and Uncertainties" in Medicago's Annual Information Form filed on March 24, 2010 with the regulatory authorities. Medicago assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward-looking statements.

SOURCE Medicago Inc.

For further information:

Contact:      

Medicago Inc.        Medicago Inc.  
Andy Sheldon         Christina Cameron
President and CEO       Investor Relations Manager
(418) 658-9393                                          (418) 658-9393 x156

 

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