Medicago and Ajanta Pharma forge MoU to commercialize seasonal influenza VLP-based vaccines in India

Medicago Inc. (TSX-V: 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 Ajanta Pharma Limited ("Ajanta") to discuss and negotiate an agreement to commercialize Medicago's pandemic and seasonal influenza VLP-based vaccines in India and other territories. Ajanta is one of India's fastest growing pharmaceutical companies that has strong relationships with Government health departments, defence services and hospitals. Under the terms of the MOU, the parties will evaluate and select an optimal deal structure with the objective of formalizing a definitive agreement within 90 days.

"We are delighted to be collaborating with Ajanta," said Andy Sheldon, President and CEO of Medicago. "This MOU is consistent with our strategy to provide countries worldwide with a rapid, affordable and effective solution for the supply of vaccines within their borders."

"This potential partnership with Ajanta will provide Medicago with another near-term commercial opportunity to broaden the deployment of our novel pandemic and seasonal influenza VLP vaccines and continue to validate our proprietary plant-based technologies," said Frederic Ors, VP Business Development of Medicago. "We intend to continue to pursue business opportunities of this nature and expand our footprint in regions that lack influenza vaccine manufacturing capabilities."