Medicago signs MOU with Ajanta Pharma for commercial development of influenza vaccines in India and other territories

    QUEBEC CITY, QC, Aug. 20 /CNW/ - Medicago Inc. (TSX-V: MDG), a
biotechnology company focused on developing highly effective and affordable
vaccines based on proprietary manufacturing technologies and Virus-Like
Particles (VLPs), today announced that it has signed a Memorandum of
Understanding ("MOU") with Ajanta Pharma Limited ("Ajanta") to discuss and
negotiate an agreement to commercialize Medicago's pandemic and seasonal
influenza VLP-based vaccines in India and other territories. Ajanta is one of
India's fastest growing pharmaceutical companies that has strong relationships
with Government health departments, defence services and hospitals. Under the
terms of the MOU, the parties will evaluate and select an optimal deal
structure with the objective of formalizing a definitive agreement within 90
    "We are delighted to be collaborating with Ajanta," said Andy Sheldon,
President and CEO of Medicago. "This MOU is consistent with our strategy to
provide countries worldwide with a rapid, affordable and effective solution
for the supply of vaccines within their borders."
    "This potential partnership with Ajanta will provide Medicago with
another near-term commercial opportunity to broaden the deployment of our
novel pandemic and seasonal influenza VLP vaccines and continue to validate
our proprietary plant-based technologies," said Frederic Ors, VP Business
Development of Medicago. "We intend to continue to pursue business
opportunities of this nature and expand our footprint in regions that lack
influenza vaccine manufacturing capabilities."

    About Ajanta

    Ajanta Pharma Limited is one of the fastest growing Indian pharmaceutical
companies. It is a global pharmaceutical company with proven capabilities in
the areas of product research, manufacturing & marketing. Its focus is on
specialty segments in India and simultaneous opening of newer markets abroad.
Ajanta has established strong capabilities in the international market with
exports to over 50 countries around the world including countries in Asia,
Africa, Latin America and Europe. For more information please visit:

    About Medicago

    Medicago is committed to provide highly effective and affordable vaccines
based on proprietary Virus-Like Particle (VLP) and manufacturing technologies.
Medicago is developing VLP vaccines to protect against H5N1 pandemic
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 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 strikes and to supply large volumes of vaccine
antigens to the world market. Additional information about Medicago is
available at

    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.

    Neither TSX Venture Exchange nor its Regulation Services Provider (as
    that term is defined in the policies of the TSX Venture Exchange) accepts
    responsibility for the adequacy or accuracy of this release

    %SEDAR: 00023641EF

For further information:

For further information: Medicago, Inc.: Andy Sheldon, President and
CEO, (418) 658-9393; Medicago Inc.: Arianna Vanin, Director, Investor
Relations, (514) 796-3993

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