QUEBEC CITY, Oct. 29, 2012 /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), today announced that Chief Scientific Officer and co-founder Dr. Louis-Philippe Vézina has been named as a recipient of the 2012 Prix du Quebec. The Prix du Quebec is the most prestigious award given by the Government of Québec for those that have contributed to Quebec social and scientific progress. Dr. Vezina will receive the Lionel-Boulet award in science, which recognizes contributions in the areas of innovation and scientific development through contributions to the economic growth of Quebec.
"I am honoured to be selected to receive the Prix du Quebec, and sincerely thank the Government of Quebec for this recognition," said Dr. Louis-Philippe Vézina, Chief Scientific Officer of Medicago. "The Company has made significant advancements in its pipeline of plant-based biopharmaceutical product candidates. I share this award with my mentors and colleagues in recognition of their dedication and industry-leading vision."
"On behalf of Medicago, I would like to congratulate Louis on this award which is a testament to his contributions to science, Quebec and the Company," said Andy Sheldon, Chief Executive Officer of Medicago. "Our team of 190 employees continue to demonstrate their commitment to work towards the success of Medicago's leading-edge technology."
The Prix du Québec have existed in their current form since 1977. Each year, the government attributes six such awards in the cultural field and five in the scientific field. The purpose of this tribute is to recognize the career of women and men who have demonstrated a passion for their calling and creative or innovative spirit, and whose work has contributed to the influence of Québec around the world and to the evolution of Québec society in their respective fields. The awards will be given at a ceremony on November 13, 2012, at the National Assembly in Quebec City.
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. Such statements include but are not limited to statements about the DARPA project, achievement of milestones and financial payments related to the DARPA project, and statements related to the potential for the commercial-scale facility in North Carolina. 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 29, 2012, 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.
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