February 1, 2011 / 1:16 PM / in 7 years

UPDATE 1-Medicago reports positive data on flu vaccine

* Says will continue with next part of trial

* Expects to report final data in Q2

Feb 1 (Reuters) - Biotechnology firm Medicago Inc MDG.TO said interim data from a mid-stage trial for its experimental flu vaccine showed it was safe and well tolerated, and also had a solid immune response.

Quebec-based Medicago said its vaccine -- formulated to protect against the Indonesian influenza virus -- induced the production of antibodies that cross react with multiple strains of influenza.

The vaccine is based on the company’s virus-like particle technology where the particles are made to look like a virus, allowing them to be recognized readily by the body’s immune system.

The company added that it will proceed with the next part of its mid-stage study and will report final data in the second quarter.

The study enrolled 135 volunteers who were immunized with Medicago’s vaccine at three dosage levels to determine the optimal dose.

The company’s shares closed at 61 Canadian cents on Monday on the Toronto Stock Exchange. They have gained a quarter of their value in the past one year. (Reporting by Isheeta Sanghi in Bangalore; Editing by Anne Pallivathuckal)

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