Pharma firm Medicago in C$173m deal with Canada for Covid-19 vaccine efforts

Medicargo began Phase 1 testing on volunteers on July 14 while anticipating Phase 2 trials to begin in early November. — Reuters pic
Medicargo began Phase 1 testing on volunteers on July 14 while anticipating Phase 2 trials to begin in early November. — Reuters pic

KUALA LUMPUR, Oct 28 ― Biopharmaceutical company Medicago announced it has obtained C$173 million (RM546 million) from the Canadian government to support its on-going Covid-19 vaccine development and clinical trial.

A Philip Morris International subsidiary, Medicago said it had reached an agreement with the Public Services and Procurement Canada (PSPC) to supply up to 76 million doses of its vaccine candidate for Covid-19, subject to Health Canada approval while the Innovation, Science & Economic Development Canada provided the aforementioned contribution.

“We welcome the collaboration announced between two departments of the Canadian government and Medicago to accelerate its efforts against Covid-19. Better outcomes can be achieved when governments and companies join efforts to promote shared objectives for the greater good.

“We are pleased to be able to support Medicago’s work to develop, substantiate, manufacture, and make available a Covid-19 vaccine candidate. We all hope they will be successful,” PMI’s chief executive André Calantzopoulos said.

Medicago began Phase 1 testing on volunteers on July 14 while anticipating Phase 2 trials to begin in early November.

Phase 3 tests are expected to begin in December, subject to the success of Phase 2 trials.

Related Articles