Singapore, Mar 18, 2010: Medicago, a biotechnology company focused on developing highly effective and affordable vaccines based on proprietary manufacturing technologies and Virus-Like Particles (VLPs), has signed a Memorandum of Understanding (MoU) with Niigata TLO/NBRP/KUTLO-NITT (NITT Partners) to discuss and negotiate an agreement to commercialize Medicago's pandemic and seasonal influenza VLP-based vaccines in Japan and other territories.

For several years, NITT Partners has been the government approved technology transfer/licensing organization to license in state of the art technologies. Under the terms of the MOU, the parties will evaluate and select an optimal deal structure with the objective of formalizing a definitive agreement.

"We are delighted to be collaborating with NITT Partners to potentially enable funding to support the development of our VLP-based influenza vaccines in Japan," Andy Sheldon, President and CEO of Medicago. "This further validates our unique plant-based vaccine technology offering of a rapid, affordable and effective solution for the supply of vaccines within country borders."

"The successful completion of our Phase I clinical trial for our H5N1 vaccine candidate has opened additional global doors and has also advanced the ongoing discussions with our potential partners," said Frederic Ors, VP Business Development of Medicago. "As we advance the clinical development of our vaccine candidates, we will continue to discuss opportunities with other pharmaceutical companies and governments to roll-out our compelling influenza vaccine technology around the globe."

"Medicago's VLP technology coupled with their portable manufacturing system has the potential to allow Japan to manufacture vaccines within our borders," said Yoji YUKI, President and CEO of Niigata TLO. "The speed, capacity and cost of vaccine production have the potential to be drastically improved as Medicago's plant-based technology has proven to develop emerging strains quicker and at a less expensive rate. As we enter a new world of high technology, we are confident that Medicago's technology has the ability to help conquer the spread of influenza virus, further enhancing our pandemic plan."