Medicago Inc. Press Releases

Medicago announces a single low dose of its H5 VLP Vaccine achieves 100% cross-protection in lethal challenge study in ferrets

Wed, 08 Sep 2010 07:00:00 -0400

QUEBEC CITY, Sept. 8 /CNW/ - Medicago Inc. (TSX: MDG), a clinical-stage biotechnology company focused on developing highly effective and affordable vaccines based on proprietary manufacturing technologies and Virus-Like Particles (VLPs), today announced that a single low dose of its pandemic vaccine formulated for the H5N1 Indonesia strain of Avian flu provided 100% cross-protection in ferrets against a lethal challenge with the highly virulent Vietnam Influenza virus. H5N1 vaccines are known to require repeated administrations to elicit an antibody response. Medicago is believed to be the first company to demonstrate full cross-protection in a heterogeneous challenge with only a single dose of its H5N1 vaccine in the ferret model.

Medicago successfully completed a Phase I clinical trial for its H5 VLP vaccine in December 2009 and will be initiating its Phase II clinical trial next quarter. During this time, the Company continued to further explore the immune response of its VLPs through additional animal studies to better understand the strength of its product.

In this study, ferrets were vaccinated with a single 1.9 (micro)g dose of the Company's clinical grade VLP vaccine made for the Indonesia H5N1 Avian Influenza virus (A/Indonesia/5/05). Animals were then challenged with a lethal dose of the Vietnam influenza virus (A/Vietnam/1203/04). All the vaccinated ferrets survived the lethal challenge while all non-vaccinated ferrets died within 7 days. As the influenza virus replicates in a similar way in ferrets and humans and causes similar symptoms and disease, these protection data are highly significant.

"This is a solid demonstration that we have a very good antigen and technology. We believe our VLPs elicit a broader and more efficient immune response than the traditional egg based production method," said Andy Sheldon, President and CEO of Medicago. "We believe our low dose cross-protective vaccine is highly desirable in face of pandemic as strains may mutate rendering current stockpiled vaccines ineffective. We continue to advance the clinical development of our H5 VLP vaccine with the initiation of our phase II clinical trial next quarter."

About Medicago

Medicago is committed to providing highly effective and affordable vaccines based on proprietary Virus-Like Particle (VLP) and manufacturing technologies. Medicago is developing VLP vaccines to protect against pandemic and seasonal influenza using a transient expression system which produces recombinant vaccine antigens in non-transgenic plants. Their lead vaccine candidate, H5N1, has successfully completed a PI clinical trial and will be entering a PII clinical trial in 2010. Medicago's technology has the 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 www.medicago.com.

Forward-Looking Statements

This news release includes certain forward-looking statements that 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. 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 "Risks Factors and Uncertainties" in Medicago's Annual Information Form filed on March 24, 2010 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.

%SEDAR: 00023641EF

Medicago named in Presidential report on meeting the challenges of pandemic influenza

Tue, 31 Aug 2010 07:00:00 -0400

QUEBEC CITY, Aug. 31 /CNW/ - Medicago Inc. (TSX: MDG), a clinical-stage biotechnology company focused on developing highly effective and affordable vaccines based on proprietary manufacturing technologies and Virus-Like Particles (VLPs), today announced that it was included in a report of President Obama's Council of Advisors on Science and Technology entitled "Report to the President on Reengineering the Influenza Vaccine Production Enterprise to Meet the Challenges of Pandemic Influenza", which was released earlier this month. U.S. Health and Human Services Secretary Kathleen Sebelius and other public health officials held a briefing to discuss this report and the $2 billion plan to accelerate the development of drugs and vaccines to prevent the spread of infectious diseases.

The report examined the importance to the U.S.A. of more rapidly and reliably producing effective vaccines, at a sufficient scale to protect all U.S. residents, in response to the emergence of pandemic influenza. The report stated, "Protecting the nation from an influenza pandemic...requires tightening the schedule for making vaccine substantially: in a serious pandemic, saving weeks could translate into saving tens of thousands of lives." Medicago was notably mentioned as an example of a recombinant influenza vaccine technology in clinical development.

"We are thrilled to be identified by the President's top scientific advisors as advancing the development of a recombinant vaccine technology that offers speed and cost advantages over the current method," said Andy Sheldon, President and CEO of Medicago.

The U.S. government's new initiative supports the development, clinical testing, and approval of influenza vaccines made using recombinant DNA technology. The investment strategy allows for flexibility in financing of promising vaccine production platforms, and creates downstream incentives for products that meet the target product profile and production criteria. In particular, the plan recommends that the federal government:

    <<
    -   Establish a recombinant influenza vaccine initiative
    -   Develop an investment strategy that allows co-financing of promising
        vaccine production platforms
    -   Establish federal policy for the use of recombinant influenza
        vaccines in seasonal influenza campaigns and during a pandemic, once
        they have been proven to be safe and efficacious
    >>

"Our recombinant technology fits perfectly in line with this initiative and we believe that we are well positioned to play a prominent role in the $2 billion preparedness plan being set forth by the U.S government. We believe our recombinant plant-based VLP technology, capable of rapidly producing highly-scalable, cost-effective vaccine supplies, will enhance the U.S. defense against the spread of influenza and other infectious diseases," added Mr. Sheldon.

The full report prepared by the President's Council of Advisors on Science and Technology is available online at www.whitehouse.gov/sites/default/files/microsites/ostp/PCAST-Influenza-Vaccinology-Report.pdf.

About The President's Council of Advisors on Science and Technology (PCAST)

PCAST is an advisory group of the nation's leading scientists and engineers appointed by the U.S. President to augment the science and technology advice available to him from inside the White House and from cabinet departments and other federal agencies. PCAST is consulted about and often makes policy recommendations concerning the full range of issues where understanding of the domains of science, technology, and innovation bear potentially on the policy choices before the President. PCAST is administered by the White House Office of Science and Technology Policy (OSTP). For more information about PCAST, see www.whitehouse.gov/ostp/pcast

About Medicago

Medicago is committed to providing highly effective and affordable vaccines based on proprietary Virus-Like Particle (VLP) and manufacturing technologies. Medicago is developing VLP vaccines to protect against pandemic and seasonal influenza using a transient expression system which produces recombinant vaccine antigens in non-transgenic plants. Their lead vaccine candidate, H5N1, has successfully completed a PI clinical trial and will be entering a PII clinical trial in 2010. Medicago's 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 www.medicago.com.

Forward Looking Statements

%SEDAR: 00023641EF

Medicago announces closing of its previously announced equity offering for gross proceeds of CAN$7.5 million

Thu, 19 Aug 2010 08:55:00 -0400

/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES./

QUEBEC CITY, Aug. 19 /CNW/ - Medicago Inc. ("Medicago" or the "Company") (TSX: MDG), announces that it has closed its previously announced offering of 18,518,520 units at a price of $0.405 per unit for gross proceeds of $7.5 million. Each unit is comprised of one common share and three-quarter of one common share purchase warrant. Each full warrant is exercisable at a price of $0.50 for a period of 5 years. The offering was managed by Dundee Securities Corporation with Paradigm Capital Inc. as agent, and Bloom Burton & Co. as member of the selling group. Roth Capital Partners, LLC was the lead selling group member. The offering has been effected in each of the provinces of British Columbia, Alberta, Ontario and Quebec by way of a prospectus supplement to Medicago's base shelf prospectus dated July 7, 2010.

Medicago intends to use the net proceeds from the offering to fund its participation under the cost-sharing program pursuant to the previously announced Technology Investment Agreement following the award of a US$21 million funding award from the Defense Advanced Research Projects Agency ("DARPA") and for other general corporate and working capital purposes.

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 www.medicago.com.

Forward Looking Statements

This news release includes certain forward-looking statements that are based upon current expectations, which involve risks and uncertainties associated with Medicago's business and the environment in which the Company 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. 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 "Risks Factors and Uncertainties" in Medicago's Annual Information Form filed on March 24, 2010 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.

%SEDAR: 00023641EF

Medicago announces 2010 second quarter financial results

Fri, 13 Aug 2010 17:00:00 -0400

QUEBEC CITY, Aug. 13 /CNW/ - Medicago Inc. (TSX: MDG), a biotechnology company focused on developing highly effective and affordable vaccines based on proprietary manufacturing technologies and Virus-Like Particles, today announced its operational and financial results for the second quarter ended June 30, 2010. The Company's financial statements and management report are available at www.sedar.com and at www.medicago.com.

"We have made great strides in the advancement of our rapid and cost-effective VLP plant-based vaccine technology. Our recent award of $21M from the Defense Advanced Research Projects Agency (DARPA) demonstrates the need for our solution of rapidly producing cost-effective quality vaccines," said Andy Sheldon, President and CEO of Medicago. "We will develop a U.S. state-of-the-art facility in order to participate in the $7B seasonal and pandemic vaccine market. This facility will also provide us with enhanced access to the various grant programs in both the U.S.A. and Canada and we will be ready to take part in these additional funding opportunities."

"Our H5N1 pandemic vaccine should enter phase 2 clinical trials this quarter. We will continue to discuss opportunities with other pharmaceutical companies and governments to roll-out our rapid and cost-effective vaccine technology around the globe." stated Mr. Sheldon.

Key Corporate Developments

    <<
    -   Subsequent to quarter end, it was announced that Medicago USA Inc.
        was awarded a $US21 million grant from the Defense Advanced Research
        Projects Agency (DARPA) to provide scalable manufacturing of its
        plant-expressed VLP vaccines in the U.S.A. under a Technology
        Investment Agreement.

    -   Signed a memorandum of understanding with PT Bio Farma to identify
        and develop select vaccine targets of mutual interest, with the final
        goal being to establish a partnership to build a plant-based
        manufacturing facility in the Republic of Indonesia.

    -   Graduated to the Toronto Stock Exchange (the "TSX") from the TSX
        Venture Exchange and listed its common shares on the TSX

    -   Subsequent to quarter end, entered, as of August 10, 2010, into an
        agency agreement to sell up to 18,518,520 Units at a price of $0.405
        per Unit, representing gross proceeds of $7.5 million. The proceeds
        from this offering will be used to fund the Company's participation
        in the DARPA cost-sharing program.
    >>

Outlook

The Company expects to initiate a phase II clinical trial in the second-half of 2010 with results available thereafter. Upcoming 2010 milestones include among others:

    <<
    -   Submission of a CTA to Health Canada to initiate a Phase II clinical
        trial for H5N1 pandemic vaccine
    -   Initiation of a Phase II clinical trial for H5N1 pandemic vaccine
    -   Completion of preclinical studies for an H1N1 vaccine
    >>

Financial Results

Consolidated losses for the three-month period ended June 30, 2010 was $3,963,000 or $0.03 per basic and diluted share compared to a loss of $2,794,000 or $0.03 per basic and diluted share for the three-month period ended June 30, 2009. Since the beginning of the year the consolidated loss was $7,672,000 or $0.06 per basic and diluted share compared to a loss of $5,419,000 or $0.07 per basic and diluted share.

Research and development (R&D) expenses increased by $1,034,000 to $2,861,000 for the second quarter of 2010 compared to the second quarter of 2009. For the six-month period ended June 30, 2010 R&D expenses increased by $2,198,000 to $5,423,000. The increase in R&D expenses is mainly related to the upcoming Phase II study.

Research grants and contribution increased by $229,000 and $ 566,000 for the three and six-month period ended June 30, 2010. The increase is mainly explained by the grant from Quebec's Consortium for Drug Discovery (CQDM) that was obtained in the second quarter of 2009. Grant from the CQDM totaled $1,773,000 of which $990,000 is still available as of June 30, 2010.

Research and development tax credits were $144,000 and $310,000 for the three and six-month period ended June 30, 2010, $24,000 lower than three-month period ended June 30, 2009 and $37,000 higher than the six-month period ended June 30, 2009.

General and administrative, business development and intellectual property (G&A) expenses increased by $49,000 to $905,000 for the three-month period ended June 30, 2010 compared to 2009. For the six-month period ended June 30, 2010, G&A expenses increased by $347,000 to $2,095,000. This increase is mainly explained by the fees paid for the graduation of the company from the TSX-V to the TSX, and increased business development and investor relation activities.

Net financial expenses amounted to $243,000 for the three-month period ended June 30, 2010, $67,000 higher compared to the three-month period ended June 30, 2009. This increase is explained by lower interest income ($83,000) mainly the result of decrease in cash, cash equivalents and short-term investments and lower interest rates in 2010. For the six-month period ended June 30, 2010 net financial expenses increased by $68,000 to $489,000 and this is mainly explained by lower interest rate on the Bio-Levier loan for $31,000 and lower interest income for $115,000.

As at June 30, 2010 cash, cash equivalents and short-term investments were of $6.9 million, a decrease of $7.4 million from December 31, 2009. This decrease is mainly the result of loss for the six-month period net of items not affecting cash and cash equivalents for $6,898,000 that was partly offset by the exercise of 3,443,500 warrants totaling $861,000 since the beginning of 2010.

As at August 13, 2010, there were 118,388,582 common shares issued and outstanding, 7,263,188 stock options outstanding and 59,011,196 warrants outstanding.

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 pandemic and seasonal influenza using a transient expression system which produces recombinant vaccine antigens in non-transgenic plants. Their lead vaccine candidate, H5N1, has successfully completed a PI clinical trial and will be entering a PII clinical trial in 2010. Medicago's 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 www.medicago.com.

Forward Looking Statements

%SEDAR: 00023641EF

Medicago announces an increase of its previously announced equity offering to $7.5 million

Tue, 10 Aug 2010 21:42:00 -0400

/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES./

QUEBEC CITY, Aug. 10 /CNW/ - Medicago Inc. ("Medicago" or the "Company") (TSX: MDG), announces that it has increased the size of its previously announced offering and now intends to sell, under an agency agreement, up to 18,518,520 Units at a price of $0.405 per Unit, representing gross proceeds of $7.5 million. Each Unit is comprised of one common share and three-quarter of one common share purchase warrant. Each full warrant will have an exercise price of $0.50, exercisable for a period of 5 years following the closing date of the offering. The offering is being conducted by Dundee Securities Corporation and Paradigm Capital Inc. as agents, and Bloom Burton & CO. as member of the selling group with respect to the offering. The offering is effected in each of the provinces of British Columbia, Alberta, Ontario and Quebec by way of a prospectus supplement to Medicago's base shelf prospectus dated July 7, 2010.

Medicago intends to use the net proceeds from the offering to fund its participation to the cost-sharing program pursuant to the previously announced Technology Investment Agreement following the award of a $21 million funding award from the Defense Advanced Research Projects Agency ("DARPA") and for other general corporate and working capital purposes.

The transaction is expected to close on or about August 19, 2010, subject to the satisfaction of all necessary regulatory approvals, including the conditional listing approval of the Toronto Stock Exchange.

This press release does not constitute an offer to sell or a solicitation to buy any securities in any jurisdiction.

About Medicago

Forward Looking Statements

This news release includes certain forward-looking statements that are based upon current expectations, which involve risks and uncertainties associated with Medicago's business and the environment in which the Company 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. 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 "Risks Factors and Uncertainties" in Medicago's Annual Information Form filed on March 24, 2010 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.

%SEDAR: 00023641EF

Medicago announces $7 million equity offering

Tue, 10 Aug 2010 13:51:00 -0400

/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES./

QUEBEC CITY, QC, Aug. 10 /CNW/ - Medicago Inc. ("Medicago" or the "Company") (TSX: MDG), announces that it has entered into an agency agreement and has carried-out an overnight marketed offering to sell up to 17,283,952 Units at a price of $0.405 per Unit, representing gross proceeds of $7 million. Each Unit is comprised of one common share and three-quarter of one common share purchase warrant. Each full warrant will have an exercise price of $0.50, exercisable for a period of 5 years following the closing date of the offering. The offering is being conducted by Dundee Securities Corporation and Paradigm Capital Inc. as agents, and ROTH Capital LLP and Bloom Burton & CO. as members of the selling group with respect to the offering. The offering is effected in each of the provinces of British Columbia, Alberta, Ontario and Quebec by way of a prospectus supplement to Medicago's base shelf prospectus dated July 7, 2010.

This press release does not constitute an offer to sell or a solicitation to buy any securities in any jurisdiction.

About Medicago

Forward Looking Statements

This news release includes certain forward-looking statements that are based upon current expectations, which involve risks and uncertainties associated with Medicago's business and the environment in which the Company 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. 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 "Risks Factors and Uncertainties" in Medicago's Annual Information Form filed on March 24, 2010 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.

Medicago awarded $21 million from the U.S. Department of Defense

Tue, 10 Aug 2010 08:05:00 -0400

-Medicago to develop a vaccine facility in Research Triangle Park, North Carolina-

RALEIGH and QUEBEC CITY, Aug. 10 /CNW/ - Medicago USA Inc., a wholly owned subsidiary of Medicago Inc. (TSX: MDG), a clinical-stage 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 been awarded a $21 Million grant from the Defense Advanced Research Projects Agency (DARPA), Broad Agency Announcement (BAA), Defense Sciences Research & Technology to demonstrate the scalable manufacturing of its plant-expressed VLP vaccines in the U.S.A. under a Technology Investment Agreement.

Medicago will develop a 90,000-square-foot cGMP facility in Research Triangle Park (RTP), North Carolina. This state-of-the-art facility will be a large, cost-effective and scaled-up facility for Medicago's VLP plant-based vaccine technology for the delivery of cGMP-grade vaccine. Medicago will scale-up and automate its cGMP process to demonstrate its capacity to produce 10 million doses/month of influenza vaccines with the potential for further expansion in the future.

This DARPA project is an accelerated and integrated effort to deliver effective production of pandemic influenza in the U.S.A. The Accelerated Manufacture of Pharmaceuticals (AMP) program seeks to identify new ways to produce large amounts of high quality vaccine protein in less than 3 months in response to emerging and novel biologic threats. The strategic collaboration is a $42M project in which DARPA contributes $21M, Medicago $7.5M and Alexandria Real Estate Equities Inc. ('Alexandria') $13.5M.

"We are thrilled to be awarded such significant funding from DARPA for the development of a state-of-the-art plant-based VLP vaccine capability in the U.S.A. as it further validates the growing and strategic interest in our rapid and cost-effective vaccine technology," said Andy Sheldon, President and CEO of Medicago. "This DARPA funding is also perfectly in line with our development plan for both our pandemic and seasonal influenza products as we will now have a U.S. facility ready to participate in the $7B pandemic and seasonal influenza markets. In addition, our U.S. facility will provide us enhanced access to the various grant programs in the U.S.A. and we will be ready to take part in these additional funding opportunities."

Alexandria Real Estate Equities is the largest owner and leading provider of high-quality environmentally sustainable real estate, technical infrastructure, and services to the broad and diverse life science industry focused in the leading life science clusters.

"We are delighted to be working with Alexandria as they are a leader in their field and it allows us to reduce the upfront capital required for the building of our new U.S. commercial grade facility," added Mr. Sheldon.

"This collaboration further highlights the emergence of plant-based platforms as viable technologies for the production of valuable products like vaccines," said Doug Dean, Senior Vice President R&D of Philip Morris International. "As Medicago have clearly demonstrated, their plant-based technology has significant benefits over traditional manufacturing methods."

During the recent H1N1 influenza outbreak, Medicago's rapid plant-based VLP vaccine technology was able to successfully develop a vaccine candidate in less than a month after identifying the H1N1 strain and is therefore one of the few technologies that can provide a solution in the case of a pandemic.

"It's vitally important to our Homeland Security that we have a robust domestic vaccine supply, and this facility will add to our production capacity helping mitigate future threats," said Congressman David Price. "Medicago's facility will ultimately bring hundreds of good paying jobs to the region, and DARPA's investment in this project is another significant contribution to local recovery efforts. This is a welcome confirmation that the Triangle continues to lead the way delivering innovative high-tech products and creating the jobs that will power a 21st Century economy." Rep. Price is the Chairman of the House Homeland Security Appropriations Subcommittee.

Medicago will host an investor conference call and webcast on August 10, 2010 at 11:00 a.m. ET to discuss this development. To access the conference call by telephone, dial 647-427-7450 or 1-888-231-8191. A replay of the call will be available by telephone through August 17, 2010. To access the telephone replay, dial 416-849-0833 or 1-800-642-1687 and enter reservation number 93065193 followed by the number sign.

Members of the media are invited to attend the press conference to discuss this development.

    <<
    When:     Tuesday, August 10th at 9:00am
    Where:    North Carolina Biotech Center Auditorium,
              15 T.W. Alexander Drive, Research Triangle Park, NC 27709
    >>

About Alexandria Real Estate Equities, Inc.

Alexandria Real Estate Equities, Inc., Landlord of Choice to the Life Science Industry(R), is the largest owner and pre-eminent first-in-class REIT and leading provider of high-quality environmentally sustainable real estate, technical infrastructure, and services to the broad and diverse life science industry focused in the leading life science clusters. Client tenants include institutional (universities and independent not-for-profit institutions), pharmaceutical, biotechnology, medical device, product, service and translational entities, renewable energy entities, as well as government agencies. Alexandria's operating platform is based on the principle of "clustering," with assets and operations located in key life science markets. Their asset base approximates 12.7 million rentable square feet (including spaces undergoing active redevelopment and properties undergoing ground-up development).

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 pandemic and seasonal influenza using a transient expression system which produces recombinant vaccine antigens in non-transgenic plants. Their lead vaccine candidate, H5N1, has successfully completed a PI clinical trial and will be entering a PII clinical trial in 2010. Medicago's 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 www.medicago.com.

Forward Looking Statements

%SEDAR: 00023641EF

Medicago Announces a Proposed Offering of Units

Mon, 09 Aug 2010 17:19:00 -0400

/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES./

QUEBEC CITY, Aug. 9 /CNW/ - Medicago Inc. ("Medicago" or the "Company") (TSX: MDG), announced today that it has undertaken an overnight marketed offering of units, each unit being comprised of one common share and a portion of a common share purchase warrant, the offering to be effected in each of the Canadian provinces of British Columbia, Alberta, Ontario and Quebec by way of a prospectus supplement to Medicago's base shelf prospectus of July 7, 2010. The number of units to be distributed, the price of each unit and the exercise price of each whole common share purchase warrant will be determined in context of the market with final terms to be determined at the time of pricing. Dundee Securities Corporation and Paradigm Capital Inc. are acting as agents for the offering.

This press release does not constitute an offer to sell or a solicitation to buy any securities in any jurisdiction.

About Medicago

Forward Looking Statements

This news release includes certain forward-looking statements that are based upon current expectations, which involve risks and uncertainties associated with Medicago's business and the environment in which the Company 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. 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 "Risks Factors and Uncertainties" in Medicago's Annual Information Form filed on March 24, 2010 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.

%SEDAR: 00023641EF

Medicago Selected to Negotiate Final Terms with the Defense Advanced Research Projects Agency for Significant Funding Award

Wed, 23 Jun 2010 07:00:00 -0400

QUEBEC CITY, June 23 /CNW/ - Medicago USA Inc., a wholly owned subsidiary of Medicago Inc. (TSX: MDG), a clinical-stage biotechnology company focused on developing highly effective and affordable vaccines based on proprietary manufacturing technologies and Virus-Like Particles (VLPs), today announced that the Defense Advanced Research Projects Agency (DARPA), Broad Agency Announcement (BAA), Defense Sciences Research & Technology has determined the Company's proposal to provide scalable manufacturing of plant-expressed VLP vaccines in the U.S. is selectable for funding. Medicago USA and DARPA have commenced negotiations of the final terms and conditions required to receive this funding award. Medicago USA submitted its proposal in March 2010 in response to Solicitation No. DARPA-BAA-09-31 for the development of a large, cost-effective and rapid scale-up of Medicago's innovative technology to deliver cGMP-grade vaccine material.

"Our proposal being selected by DARPA for potential funding demonstrates our leadership position in the development of plant-based VLP vaccines, an alternative to the traditional method," said Andy Sheldon, President and CEO of Medicago. "We look forward to negotiating the final terms with DARPA for the potential to receive a significant funding award to develop a state-of-the art plant-based VLP vaccine facility in the U.S."

The recent H1N1 influenza outbreak and the associated delays in vaccine supply underscored the importance of alternative manufacturing solutions that provide rapid response capabilities and higher yields of vaccines than the traditional method. Medicago successfully expressed the H1 VLP antigen from the influenza strain that caused the influenza outbreak within 14 days of receiving the DNA sequence. In comparison, the traditional egg-based method took over six months to develop the vaccine.

"We are one of the few current technologies with the potential for a rapid response time in the event of a pandemic. Our VLP plant-based vaccine technology has in our opinion the flexibility to cost-effectively adapt quality vaccine production at a large-scale. With the successfully completion of our phase I clinical trial, we are one of the most advanced alternative technology. Our vaccine candidates have demonstrated to date to be safe in humans and elicit a broad spectrum immunity, allowing for efficacy at low doses and therefore having the potential to translate into more vaccine doses per batch." added Mr. Sheldon.

About Medicago

Forward Looking Statements

This news release includes certain forward-looking statements that 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, however, there is no assurance that Medicago will receive a funding award from DARPA. 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 "Risks Factors and Uncertainties" in Medicago's Annual Information Form filed on March 24, 2010 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.

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Medicago signs MOU with PT BIO FARMA for the development of vaccines in the Republic of Indonesia

Mon, 14 Jun 2010 08:43:00 -0400

QUEBEC CITY, June 14 /CNW/ - Medicago Inc. (TSX: 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 PT BIO FARMA (PERSERO) ("BIO FARMA") to identify and develop select vaccine targets of mutual interest with the final goal being to establish a partnership to build a Medicago plant-based manufacturing facility in The Republic of Indonesia. Initially Medicago and BIO FARMA will collaborate in design and conduct a proof of concept evaluation on Medicago's plant-based VLP technology for a selected vaccine target.

"This agreement confirms the suitability of our technology to support vaccine development in countries where manufacturing capacity is limited. Our offering of scalable, plant-based vaccines has the potential to provide an effective and economical solution within The Republic of Indonesia, a country of 232 million inhabitants," said Andy Sheldon, President and CEO of Medicago. "In addition, this collaboration will demonstrate the versatility of our technology as we expand our vaccine manufacturing platform to include other vaccine targets."

"Medicago's VLP technology has the ability to develop vaccines against emerging strains quicker and at a cost base more favourable than competitive technologies," said Iskandar, President Director of PT Bio Farma. "Their manufacturing facilities are portable by design and lend well to our strategy of manufacturing quality vaccines within our borders."

About BIO FARMA

BIO FARMA, a state owned enterprise in Indonesia, produces vaccines and sera to support the Expanded Program on Immunization in Indonesia and in other countries. BIO FARMA is also one of the few vaccine manufacturers in the world pre-qualified by World Health Organization and that is supplying the global market. Since 1997, the company has supplied vaccines to many countries through UNICEF, PAHO and other buyers. BIO FARMA is actively involved as member of international organizations, among others: the IVI (International Vaccine Institute), DCVMN (Developing Country Vaccine Manufacturers Network), SRVP-IDB (Self Reliance on Vaccine Production) in Islamic Countries organized by Islamic Development Bank. At present, the production capacity has reached around 1.1 billion doses.

About Medicago

Forward Looking Statements

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