Medicago, Inc. Signs MOU with Ajanta Pharma for Commercial Development of Influenza Vaccines in India and Other Territories
8/20/2009 10:50:19 AM
QUEBEC CITY, QC, Aug. 20 /CNW/ - Medicago Inc., 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.