Feds Recover $40M From Defunct Quebec Vaccine Developer Medicago

The federal government has recovered $40 million of its investment in the now-defunct, Quebec-based, vaccine developer, Medicago as part of a deal with the parent company, the innovation minister announced Dec. 7. Medicago’s intellectual property will remain in Canada under a new firm as part of the agreement. The government provided Medicago with $173 million in the early days of the COVID-19 pandemic to develop a plant-based vaccine in Quebec City, and set up a facility to produce doses. The Procurement Department also gave the company an additional $150-million, non-refundable advance to get the production of the vaccine underway before Health Canada approved it....