Mitsubishi Pharma's Medicago unit to cease operations
Japan’s Mitsubishi Chemical announced that it has decided to cease all of its operations at Medicago, a consolidated subsidiary of Mitsubishi Tanabe Pharma.
Medicago is a Canadian biopharmaceutical company specializing in the research and development of new vaccines using plant-based virus-like particles (VLP) technology. Medicago’s VLP vaccine for the prevention of COVID-19, Covifenz, was approved in Canada in February 2022 and the company has since been preparing for the transition to commercial scale production.
The Canadian government had a contract with Medicago (the Marketing Authorization Holder) to supply the COVID-19 vaccine. Medicago received C$173 million ($131 million) from the Canadian government to aid in the development of the vaccine.
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