Medicago Inc MDCGF

RE: RE: RE: MEDICAGO TARGET $1.00 dundeew

[delooutchie]

REPORT  DUNDEE  24 JUNE 2010.


WITHIN  3 MONTHS , MEDICAGO  MAY RECEIVE  SUBSTANTIVE NON-DILUTIVE  FUNDING  FROM DARPA. YESTERDAY, MEDICAGO ANNOUNCED  THAT THE DEFENCE ADVANCED RESEARCH PROJECTS AGENCY,HAS DETERMINED THAT THE COMPAGNY 'S PROPOSAL TO PROVIDE SCALABLE MANUFACTURING OF PLANT-EXPRESSED VLP VACCINES IN THE U.S .IS SELECTABLE  FOR FUNDING.

PROBABILTY OF AWARD GOOD. IN THE PRESS RELEASE,THE COMPAGNY  INDICATED THAT MEDICAGO USA  AND DARPA HAVE COMMENCED  NEGOCIATIONS OF THE FINAL TERMS AND CONDITIONS FOR THE FUNDING.THIS  IS TYPICALLY  THE LAST STEP IN  THE PROCESS,AND AS SUCH,WE HAVE A MODERATE TO HIGH LEVEL OF CONFIDENCE THAT THE FUNDING WILL BE AWARDED.

WIDE AWARD $ RANGE POSSIBLE,BUT LIKELY AIMING FOR A SUBSTANTIVE AMOUNT-SOME FUNDING FROM MDG MAY ALSO BE REQUIRED.WE ARE AWARE OF DARPA AWARDS TO BIOTECH COMPANIES RANGING FROM  $.4MM TO $40MM ,SINCE MEDICAGO'S  PROPOSAL WOULD PROVIDE MANUFACTURING  IN  THE US.WE BELIEVE MEDICAGO LIKELY APPLIED FOR FUNDING IN THE MID TO UPPER END OF THE RANGE.WE ALSO BELIEVE THAT MEDICAGO MAY BE REQUIRED TO PROVIDE SOME FUNDING FOR THE PROJECT,AS WAS THE CASE IN FEBRUARY WHEN DARPA  AWARDED THE GREENVAX CONSORTIUM $40 MILLION,WITH THE CONSORTIUM TO INVEST AN ADDITIONAL 21 MILLION....................................