Medicago, Philip Morris International Inc. deal

Vaccine manufacturer Medicago granted Philip Morris' Philip Morris Products S.A. subsidiary exclusive rights to develop and commercialize Medicago's pandemic and seasonal influenza vaccines in China. Medicago will receive $4.5 million up front and is eligible for $7.5 million in milestones, plus undisclosed royalties. Medicago's plant-based virus-like particle (VLP) vaccines include H5N1 VLP vaccine against H5N1 avian influenza with cross-protective properties, which has completed Phase II testing, and H1N1 VLP vaccine against the swine influenza A/California/04/09 H1N1 virus, which is in Phase I testing. Medicago said interim data from a Phase IIa trial of the H1N1 vaccine are expected in 1Q13. ...