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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