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Medicago Shut Down: COVID-19 Vaccine Competition Among Reasons

$364m Impairment Loss For Mitsubishi

 
• By Lisa Takagi

While the close-down schedule for the Canadian vaccine technology specialist is still unclear, all ongoing R&D projects at the firm will be terminated, Japanese parent group tells Scrip.

Medicago had been facing several challenges with its COVID-19 vaccine COVIFENZ
Medicago faced multiple challenges for lead vaccine Covifenz • Source: Shutterstock

Canadian biopharmaceutical firm Medicago Inc. is to cease all operations and lay off its entire workforce of close to 600, although the detailed schedule for the shut-down is still undecided.

The Quebec-based subsidiary of Mitsubishi Tanabe Pharma Corporation (MTPC) was known primarily for its recombinant, adjuvanted COVID-19 vaccine Covifenz, which used its proprietary plant-based virus-like particle

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