Medicago Joins the OTCQX and S&P Market Access Coverage
QUEBEC CITY, May 31, 2012 /PRNewswire/ - Medicago Inc. (TSX: MDG; OTCQX: MDCGF), a biopharmaceutical company focused on developing highly effective and competitive vaccines based on proprietary manufacturing technologies and Virus-Like Particles (VLPs), today announced that Medicago stock is now trading on OTCQX International under the symbol "MDCGF". The OTCQX is the premier tier of the U.S. Over-the-Counter (OTC) marketplace, providing a U.S. quotation opportunity to significantly broaden and enhance Medicago's access and exposure within the U.S. market. The OTCQX trading platform has earned an exemplary reputation for providing U.S. investors with improved liquidity, transparency, superior information, and easy access through their U.S. regulated broker dealers. It is also recognized within the industry for maintaining rigid quotation standards for companies that trade on the OTCQX. Investors can find current financial disclosures and Real-Time Level 2 quotes for the Company on www.otcmarkets.com.
In addition, Medicago announced that its company information will be made available via S&P Capital IQ's Market Access Program, an information distribution service that enables subscribing publicly traded companies to have their company information disseminated to users of S&P Capital IQ's MarketScope Advisor. The company information to be made available through this program includes share price, volume, shares outstanding, company financial position, and earnings. MarketScope Advisor is an Internet-based research engine used by more than 100,000 investment advisors. A public version of the site is available at http://advisor.marketscope.com. Information about companies in S&P Capital IQ's Market Access Program will be available via the firm's Stock Guide database, which is distributed electronically to virtually all major quote vendors. As part of the program, a full description of Medicago will also be published in the Daily News section of Standard Corporation Records, a recognized securities manual for secondary trading in up to 38 states under their Blue Sky Laws.
Dorsey & Whitney LLP will serve as Medicago's Principal American Liaison ("PAL") on OTCQX, responsible for providing guidance on OTCQX requirements and U.S. securities laws.
"Trading on the OTCQX International will provide enhanced access to U.S. investors and the ability for Medicago to diversify its shareholder base," said Pierre Labbé, Vice-President and Chief Financial Officer of Medicago. "We believe that trading on the OTCQX is in the best interest of shareholders and will enable the Company to enhance the market liquidity of Medicago shares."
Medicago's pipeline includes the initiation of a U.S. Phase II a clinical trial for a quadrivalent seasonal flu vaccine with interim data expected in the first quarter of 2013. A Phase I clinical trial for a one-dose H5N1 VLP vaccine with a new adjuvant is planned for the second quarter of 2012, in partnership with the Infectious Disease Research Institute (IDRI), with interim data expected in the second half of this year. GMP process development and a GLP toxicology study for a rabies vaccine are ongoing. Medicago is also working with Mitsubishi Tanabe Pharma under a strategic alliance to develop a vaccine for rotavirus, and at least two additional vaccine candidates. In addition to vaccines, Medicago is conducting research and development in the area of biosimilar products.
Medicago is a clinical-stage biopharmaceutical company developing novel vaccines and therapeutic proteins to address a broad range of infectious diseases worldwide. The Company is committed to providing highly effective and competitive vaccines and therapeutic proteins based on its proprietary VLP and manufacturing technologies. Medicago is a worldwide leader in the development of VLP vaccines using a transient expression system which produces recombinant vaccine antigens in plants. This technology has potential to offer more potent vaccines with speed and cost advantages over competitive technologies, enabling the development of a vaccine for testing in approximately one month after the identification and reception of genetic sequences from a pandemic strain. This production time frame has the potential to allow vaccination of the population before the first wave of a pandemic, and supply large volumes of vaccine antigens to the world market. Medicago also intends to expand development into other areas such as biosimilars and biodefense products where the benefits of our technologies can make a significant difference. Additional information about Medicago is available at www.medicago.com.
About OTC Markets Group Inc.
OTC Markets Group Inc. (OTCQX: OTCM) operates the world's largest OTC marketplace for equity securities. Our OTC Link® trading system delivers price transparency in over 10,000 securities and enables direct interaction between broker-dealers that provide liquidity and execution services. We organize the marketplace by categorizing the wide spectrum of OTC-traded companies into three tiers: OTCQX® - The Intelligent Marketplace for the Best OTC Companies; OTCQB® - The Venture Marketplace; and OTC Pink® - The Open Marketplace. Our information-driven platform makes it easy for investors to trade at the best price through the broker of their choice and empowers companies to build the best markets for their investors. To learn more about our Open, Transparent, and Connected marketplace, visit www.otcmarkets.com.
About S&P Capital IQ
S&P Capital IQ, a brand of the McGraw-Hill Companies (NYSE: MHP), is a leading provider of multi-asset class data, research and analytics to institutional investors, investment advisors and wealth managers around the world. We provide a broad suite of capabilities designed to help track performance, generate alpha, identify new trading and investment ideas, and perform risk analysis and mitigation strategies. Through leading desktop solutions such as Capital IQ, Global Credit Portal and MarketScope Advisor desktops; enterprise solutions such as S&P Securities Evaluations, Global Data Solutions, and Compustat; and research offerings including Leveraged Commentary & Data, Global Market Intelligence, and company and fund research, S&P Capital IQ sharpens financial intelligence into the wisdom today's investors need. Company information distributed through the Market Access Program is based upon information that S&P Capital IQ considers to be reliable, but neither S&P Capital IQ nor its affiliates warrant its completeness or accuracy, and it should not be relied upon as such. This material is not intended as an offer or solicitation for the purchase or sale of any security or other financial instrument.
Forward Looking Statements
This news release includes certain forward-looking statements or forward-looking information for the purposes of applicable securities laws and such statement and information are based upon current expectations, which involve risks and uncertainties associated with Medicago's business and the environment in which the business operates. Any statements contained herein that are not statements of historical facts may be deemed to be forward-looking, including those identified by the expressions "anticipate", "believe", "plan", "estimate", "expect", "intend", and similar expressions to the extent they relate to Medicago or its management. The forward-looking statements are not historical facts, but reflect Medicago's current expectations regarding future results or events. Such statements include but are not limited to statements about the benefits of being quoted on the OTCQX, the improved liquidity of the Company's shares when traded on the OTCQX, the potential uses and benefits of the VLP and manufacturing technologies and the potential for development of biosimilar and biodefense products. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations, including the matters discussed under "Risk Factors and Uncertainties" in Medicago's Annual Information Form filed on March 29, 2012, with the regulatory authorities. Medicago assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward-looking statements.
SOURCE Medicago Inc.