Medicago provides update on milestones achieved



    QUEBEC CITY, July 30 /CNW/ - Medicago Inc. (TSX-V: MDG) today reported
key milestones achieved during the first seven months of 2008.
    "Since we started the preclinical development of our H5N1 Avian Influenza
VLP vaccine, we have met all set milestones for this program as evidenced by
the excellent results received from immunogenicity studies in mice and
ferrets, the cGMP qualification of our manufacturing facility and the NRC
grant received for the development of our seasonal vaccine," said
Andy Sheldon, President and CEO of Medicago. "Furthermore, the signing of two
licensing agreements with a Fortune 100 Company and the agreement with Evry
Genopole biopark to evaluate the establishment of a pandemic vaccine
production facility in France continue to demonstrate the progress we have
made in commercializing our proprietary plant-based technology globally. We
will continue to set clear milestones and work to achieve them on schedule in
order to quickly advance our pipeline and continue to build value for our
shareholders."

    Signed non-exclusive licensing agreement with Fortune 100 Company

    In February 2008, Medicago signed a $2.0 million non-exclusive licensing
agreement with an undisclosed Fortune 100 company for the development and
commercialization of the Company's proprietary plant-based production
technology. This new Agreement validates the attractiveness of Medicago's
technology platform to leading companies and highlights the Company's ability
to create additional value for shareholders via non-exclusive collaborations
as well as research and development technology licenses.

    Demonstrated lead pandemic vaccine provides 100% protection in mice

    In March 2008, the Company's H5N1 Avian Influenza VLP vaccine provided
100% protection in mice against a lethal challenge of live H5N1 viruses. In
addition, it has the potential to protect against three of the deadliest
strains of pandemic influenza. A major hurdle with development of pandemic flu
vaccines has been the mutation of the H5N1 virus over time. As a result,
cross-protection, rapid development and production are key components in the
successful development of these vaccines. This is the first demonstration that
the Company's VLP vaccine can protect against infection with a live deadly
virus and provide cross-protection among different strains of H5N1 in
circulation, increasing the chances of broader spectrum coverage.

    Obtained cGMP qualification of manufacturing facility

    In April 2008, the Company completed the cGMP ("Current Good
Manufacturing Practices") qualification of its manufacturing facility. cGMP
qualification is a great challenge for all companies and represents a
significant technical milestone as it is a prerequisite to produce clinical
grade materials, which will be required for Phase I human clinical trials of
the H5N1 VLP vaccine.

    Demonstrated efficacy at very low doses and broad protection of lead H5N1
    VLP vaccine in ferrets

    Ferrets are the most predictive animal model for the effectiveness of
influenza vaccines in humans. In June 2008, the Company announced that its VLP
vaccine was one of the first pandemic influenza vaccines to demonstrate it may
provide significant immune protection in ferrets after a single dose, in
addition to providing cross-reactivity against three of the deadliest strains
of H5N1, after two doses. If these ferret results replicate in humans, the
Company's H5N1 VLP vaccine will have the potential to generate significant
protection levels (up to 100%) after just a single dose of 5 micrograms.
Current FDA approved H5N1 vaccines in the US require two 90-microgram doses.

    Received NRC Grant for seasonal influenza vaccine

    In July 2008, the Company was awarded a non-refundable grant up-to
$279,700 from Canada's National Research Council Industrial Research
Assistance program ("NRC-IRAP") to support the development of its seasonal
influenza VLP vaccine program. The development of a seasonal influenza vaccine
candidate is in line with the Company's strategy to expand its product
portfolio. The current world market for seasonal influenza vaccines is
estimated to be about 400 million doses per year a. As with its pandemic
vaccine candidate, Medicago's seasonal vaccine candidate will offer speed and
cost advantages over existing competitive technologies and will be well
positioned in this growing market.

    Signed agreement to study the feasibility of a pandemic vaccine
    production facility in France

    The Company will be conducting a feasibility study in collaboration with
Evry Genopole biopark, for the establishment of a vaccine production facility
in France. Only a few areas of the world currently have access to influenza
vaccine-production facilities. In the event of a pandemic, borders will close
to stop the virus from entering new countries and vaccine supplies will be
used by each country to ensure protection of its owns citizens. The ability to
rapidly and cost-efficiently deliver large volumes of pandemic vaccines is a
key advantage of Medicago's technology and has led to discussion with several
countries in Europe, Asia, and Africa for the establishment of domestic
vaccine production facilities.

    Forward-Looking Statements

    This press release contains forward-looking statements which reflect
Medicago's current expectations regarding future events. The forward-looking
statements involve risks and uncertainties. Actual results could differ
materially from those projected herein. Medicago disclaims any obligation to
update these forward-looking statements.

    The TSX Venture Exchange assumes no responsibility for the content or
    accuracy of this press release

    %SEDAR: 00023641EF




For further information:

For further information: Medicago, Inc.: Andy Sheldon, President and
CEO, (418) 658-9393; Investor relations: The Equicom Group Inc., Arianna
Vanin, (514) 844-4680, avanin@equicomgroup.com

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