Feds Recover $40M of $323M Invested in Defunct Quebec Vaccine Developer

A vial of a plant-derived COVID-19 vaccine candidate, developed by Medicago, is shown in this handout photo taken in Quebec City on July 13, 2020. The Canadian Press/HO, 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.