A proof of concept contract has been awarded to Medicago by the US Army Research, Development and Engineering Command laboratory. The contract will see the company working with the Edgewood Chemical Biological Center (ECBC) Research & Technology Directorate to investigate the affordable production of industrial enzymes in the field of biofuels.
"While we remain focused on advancing our core influenza programs, biotechnology markets are quickly evolving and offer new opportunities to increase shareholder value," said Louis P. Vézina, Chief Scientific Officer of Medicago.
He continued; "The world enzyme market is currently estimated to be worth US$4 billion and is projected to increase 5.7% per year. Moreover, the high cost of enzymes is a major hurdle in the production of biofuels using biomass. We believe our manufacturing platform could be suitable for the production of affordable enzymes as plants are uniquely capable of efficient protein expression at high yields and low costs. We look forward to playing a role in the US Army's efforts to accelerate the economical production of biofuels."
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