Medicago receives $3.8M from U.S. Department of Defense
Triangle Business Journal - by Monica Chen
Date: Tuesday, March 15, 2011, 10:19am EDT
Medicago (TSX: MDG), a biotechnology company that develops flu vaccines from tobacco plants, has received a milestone payment of $3.8 million from the Defense Advanced Research Projects Agency.
This is the second payment from $21 million that DARPA, an agency of the U.S. Department of Defense, has awarded to Medicago to develop scalable manufacturing of its plant-based Virus-Like Particles vaccine system. Medicago had received $10.7 million to date for the project.
The company broke ground on a 90,000-square-foot new manufacturing facility in Research Triangle Park last summer, opening Medicago USA Inc., a subsidiary of the Quebec City, Canada-based Medicago Inc. The company hopes to produce 10 million doses of flu vaccines a month, with the potential for additional expansion in the future.
Mike Wanner, vice president of U.S. operations of Medicago, said in the announcement that the RTP vaccine facility is projected to operational in the second half of 2011.