Plant-based Medicago to be acquired by Mitsubishi Tanabe Pharma

In Featured on App, Partnering and Corporate strategy by tim peplowLeave a Comment

medicago tobacco mitsubishi vaccine vlp (romtomtom http://www.flickr.com/photos/romtomtom/5336423984/)

Medicago has announced that it has agreed to be acquired by Japanese company Mitsubishi Tanabe Pharma Corp (MTPC). The Canadian biopharmaceutical company has been developing vaccines using virus-like particles (VLPs) extracted from tobacco plants, and recently announced positive pre-clinical data with its VLP vaccine candidate for H7N9 influenza.

The deal would make Medicago a joint-venture firm of MTPC (60%) and tobacco company Philip Morris International (40%).

The latest venture is not the first time Medicago and Mitsubishi Tanabe have worked together – last year the two companies entered into an alliance to develop a rotavirus vaccine.

Read more at Reuters >

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