GREY:MDCGF - Post by User
Post by
delooutchieon Jul 09, 2010 10:44pm
356 Views
Post# 17259081
REPORT DUNDEE 24 JUNE 2010
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....................................