NEW YORK--(BUSINESS WIRE)--S&P Capital IQ announced today that it has commenced Standard & Poor’s Factual Stock Report coverage on Medicago Inc.
Medicago Inc. (TSX: MDG) is a clinical-stage biopharmaceutical company developing novel vaccines and therapeutic proteins to address a broad range of infectious diseases worldwide. The company provides vaccines and therapeutic proteins based on its proprietary Virus-Like Particles (VLPs) and manufacturing technologies. Medicago develops VLP vaccines using a transient expression system which produces recombinant vaccine antigens in plants.
The company has developed two proprietary technologies for the development of vaccines: its plant-based ProficiaTM technology and its VLPs. Compared with traditional egg-based and cell production systems, plants are uniquely capable of efficient protein expression at very high yields. ProficiaTM is a robust vaccine and antibody production system based on transient protein expression in plant leaves. Medicago's VLPs mimic the native structure of a virus, allowing them to be recognized readily by the immune system without the core genetic material, making them non-infectious and unable to replicate.
When using plants, there is no need for strain adaptation and vaccine production can be initiated within 14 days after the genetic sequence of the target influenza virus is known. Current manufacturing technologies rely on strain adaptation, a process that requires an additional four to six months before vaccine production can be initiated. Medicago has reported positive results from its Phase II clinical trial with its avian flu H5 pandemic vaccine candidate. Medicago also reported positive results from a U.S. Phase I human clinical trial with its seasonal influenza vaccine candidate. All vaccine doses were found to be safe, well tolerated and also induced a solid immune response that met the CHMP criteria, even with a single dose of 5 mcg. Based on these results and subject to regulatory approval, Medicago intends to proceed with a U.S. Phase IIa trial for its seasonal quadrivalent vaccine with the recommended H1N1, H3N2 and two B influenza strains.
Medicago operates a 24,000-square-foot production facility located in the Technology Park in Quebec City, Canada. The facility includes a Biosafety level 2 greenhouse, an extraction and purification unit, and is cGMP compliant. Medicago is producing the preclinical and clinical lots required for the development of its influenza vaccines from its existing facility.
Medicago U.S.A., a wholly owned subsidiary, has completed the construction of its cGMP facility in Research Triangle Park, North Carolina. The facility includes a fully automated greenhouse and an extraction and purification unit. The 97,000 sq. ft. cGMP facility is targeted to produce ten million doses of pandemic influenza vaccine per month. On an annual basis, the facility would have production capacity of 30 million doses of seasonal quadrivalent influenza vaccine or 120 million doses of pandemic influenza vaccine.
Standard & Poor’s Factual Stock Report coverage on Medicago Inc. will also be accessible on an ongoing basis to the investment community by scores of buy-side institutions and sell-side firms that utilize S&P Capital IQ research and information platforms daily. Millions of self-directed investors also have access to the report via their e-brokerage accounts. Please visit www.medicago.com for additional information.
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Currently profiling over 500 issuers, Standard & Poor’s Factual Stock Reports, produced by S&P Capital IQ, increase market awareness of issuers in the investment community with insightful commentary and key statistics and information. Standard & Poor’s Factual Stock Reports provide factual research coverage about company fundamentals and business prospects, thereby enabling information about covered companies to reach a wide investor audience of Buy and Sell-side investors. Updated weekly with the latest pricing, trading volume, and other data, the reports include recent developments, a financial review, key operating information, industry and peer comparisons, institutional holdings analysis, Street Consensus and opinions, performance charts, business summary, fundamental data, and news. Because coverage of these reports is underwritten by the issuer, S&P Capital IQ does not offer investment opinions concerning the advisability of investing in these stocks.
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