extension of its agreement with GenopoleMedicago announces an extension of its agreement with Genopole® biopark (Evry, France)
Last Update: 11/26/2010 8:31:00 AM
QUEBEC CITY, Nov. 26, 2010 (Canada NewsWire via COMTEX) --Medicago Inc.(MDG), a biotechnologycompany focused on developing highly effective and competitive vaccinesbased on proprietary manufacturing technologies and Virus-LikeParticles (VLPs), today announced an extension to its partneringagreement of July 2009 with Genopole®. Medicago and Genopole® will alsowork towards the creation a laboratory for research on vaccine andantibody targets of interest for France in terms of public health andbiodefense. This laboratory is planned to involve French academicresearch institutes and will be located at the Genopole® biopark inEvry, France. This extension was executed today at the 2010 SymposiumFranco-Québécois in the presence of Jean Charest, Premier of Quebec andChristine Lagarde, French Minister of Economy, Finance and Industry.
On July 21, 2009, Medicago and Genopole® signed a partnering agreementto collaborate on the establishment of a commercial-scale facilitybased on Medicago's Proficia™ plant-based manufacturing technology andVLP vaccine technology on Genopole®'s site in Evry, France. FollowingMedicago's successful completion of its Phase I clinical trial,Genopole® and Medicago met with French authorities to identify specificinterests and needs for research and development of new vaccines andantibodies of high priority and concluded that the proposedimplementation of such a laboratory for joint research on vaccine andantibody targets was a step towards the establishment of acommercial-scale facility.
"Medicago is very pleased to expand its long-standing relationship withGenopole," said Andy Sheldon, President and CEO of Medicago. "Medicagois committed to using innovative manufacturing approaches to developbetter vaccines that can be produced very rapidly and cost-effectively.This laboratory could be a significant asset to further validate thebroad application potential of our proprietary Virus-Like Particles andplant-based production/extraction technologies."
"We are glad to continue our collaboration with Medicago. Theirinnovative Virus-Like Particle and non-transgenic plant-basedmanufacturing technologies show great promise for the development ofvaccines" said Pierre Tambourin, Director of Genopole®. "This expandedcollaboration will support our biopark's leadership in innovation andbioproduction by offering unique research and manufacturingcapabilities to France and Europe."
About Genopole®
Genopole® is the leading French science park dedicated to life sciences.Its campus - near Paris - combines academic (CEA, CNRS, INRA, INSERM,Université d'Evry Val d'Essonne) and private research laboratories,university/higher education facilities, biotechnology companies, and anincubator for biotech start-ups. Genopole® proposes the key benefits ofa rich and well-equipped environment: a high-level, multidisciplinaryresearch cluster in genomics and related sciences, a prosperousindustrial fabric and cutting-edge, shared-access infrastructure.Genopole®'s priority is to promote therapy-focused biotech by providingoptimal conditions for company growth and progress in research, thedevelopment of large-scale biological activities and to make France amajor competitor in the world of science and industry. Additionalinformation about Genopole® is available atwww.genopole.fr
About Medicago
Medicago is committed to provide highly effective and competitivevaccines based on proprietary Virus-Like Particle (VLP) andmanufacturing technologies. Medicago is developing VLP vaccines toprotect against H5N1 pandemic influenza, using a transient expressionsystem which produces recombinant vaccine antigens in non-transgenicplants. This technology has potential to offer advantages of speed andcost over competitive technologies. It could deliver a vaccine fortesting in about a month after the identification and reception ofgenetic sequences from a pandemic strain. This production time framehas the potential to allow vaccination of the population before thefirst wave of a pandemic strikes and to supply large volumes of vaccineantigens to the world market. Additional information about Medicago isavailable atwww.medicago.com.
Forward Looking Statements
This news release includes certain forward-looking statements that arebased upon current expectations, which involve risks and uncertaintiesassociated with Medicago's business and the environment in which thebusiness operates. Any statements contained herein that are notstatements 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 theextent they relate to Medicago or its management. The forward-lookingstatements are not historical facts, but reflect Medicago's currentexpectations regarding future results or events. These forward-lookingstatements are subject to a number of risks and uncertainties thatcould cause actual results or events to differ materially from currentexpectations, including the matters discussed under "Risks Factors andUncertainties" in Medicago's Annual Information Form filed on March 24,2010 with the regulatory authorities. Medicago assumes no obligation toupdate the forward-looking statements, or to update the reasons whyactual results could differ from those reflected in the forward-lookingstatements.
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SOURCE: Medicago Inc.
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