Life science stocks are hot, venture capitalists have renewed their interest in biotech and a host of big companies are on the hunt for startup vaccine makers with novel products and technology. Medicago is the latest developmental vaccine maker to attract a bid.
The deal would give the Japanese drug company a 60% stake in the vaccine developer, with Philip Morris Investments holding onto its sizable ownership of the biotech and keeping a 40% stake.
As the death toll related to H7N9 avian influenza outbreak in China rises to 37, Quebec-based Medicago has reported new positive results from a preclinical trial for an H7N9 vaccine candidate.
Global concern is growing over the outbreak of H7N9 avian influenza in China. So far, 133 cases of H7N9 sickness have been confirmed, and at least 37 deaths are deaths are thought to have been caused by the disease.
The H7N9 situation has quieted down since the early days of the outbreak. China switched from daily to weekly updates, and the number of new cases plateaued after live poultry markets were closed. Yet behind the scenes the U.S., China and others are continuing to ready defenses.
Craving growth in the huge market for tobacco products in China, Philip Morris International has invested in rights to flu vaccines made from a species of tobacco plant for use in the Asian powerhouse.
Vaccines-focused biopharmaceutical company Medicago inked an agreement giving tobacco company Philip Morris International the license to develop the company's pandemic and seasonal influenza vaccines for China.
The Infectious Disease Research Institute and Medicago plan to remove the 'ouch' from vaccine administration. The pair is working on delivering virus-like particles through a device that uses pain-free microneedles.
Medicago successfully completed an attempt to quickly deliver H1N1 VLP influenza vaccine candidates, slinging at least 10 million doses in one month.
One year after receiving a $21 million U.S. Defense Advanced Research Projects Agency grant to develop a vaccine manufacturing facility, Medicago has opened a 97,000-square-foot plant in Research