QUEBEC CITY, June 17, 2013 /CNW/ - Medicago Inc. (TSX: MDG; OTCQX:
MDCGF), a biopharmaceutical company focused on developing highly
effective and competitive vaccines based on proprietary manufacturing
technologies and Virus-Like Particles (VLPs), announced today it was
granted a patent from the European Patent Office (EPO) providing
Medicago the exclusive rights to produce influenza VLPs in plants.
Patent Number 2173886, titled "Influenza virus-like particles (VLPs)
comprising hemagglutinin produced within a plant", will provide patent
coverage for Medicago in Europe through July 2028. The EP 2173886
patent was originally filed on July 11, 2008, and the grant decision is
scheduled to be published in the European Patent Bulletin on June 26,
Medicago's IP portfolio currently contains over 500 patents and patent
applications providing protection in more than 45 countries.
"The coverage offered by this patent strengthens Medicago's position as
we expand the development of our influenza vaccine programs," said
Frederic Ors, Medicago's Vice President of Business Development.
"Additionally, we believe the patent enhances our IP position and
further illustrates our competitive advantage with respect to the
development of VLPs and other recombinant proteins in plants. In our
opinion, our innovative method of rapidly producing efficacious
influenza VLPs is a required technology for strengthened protection of
the population against biological threats."
Medicago is a clinical-stage biopharmaceutical company developing novel
vaccines and therapeutic proteins to address a broad range of
infectious diseases worldwide. The Company is committed to providing
highly effective and competitive vaccines and therapeutic proteins
based on its proprietary VLP and manufacturing technologies. Medicago
is a worldwide leader in the development of VLP vaccines using a
transient expression system which produces recombinant vaccine antigens
in plants. This technology has potential to offer more potent vaccines
with speed and cost advantages over competitive technologies, enabling
the development of a vaccine for testing in approximately one month
after the identification and reception of genetic sequences from a
pandemic strain. This production time frame has the potential to allow
vaccination of the population before the first wave of a pandemic, and
supply large volumes of vaccine antigens to the world market. Medicago
also intends to expand development into other areas such as biosimilars
and biodefense products where the benefits of our technologies can make
a significant difference. Additional information about Medicago is
available at www.medicago.com.
Forward Looking Statements
This news release includes certain forward-looking statements or
forward-looking information for the purposes of applicable securities
laws and such statements and information 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 "Risk Factors and Uncertainties" in Medicago's
Annual Information Form filed on March 28, 2013, 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:
President and CEO
(418) 658-9393 ext.156