Philip Morris International completes acquisition of interest in Medicago and enters into R&D and licensing agreements
Date Closed
October 21, 2008
Lead Office
Québec City
Value
15.90 Million CAD
On October 21, 2008, Medicago Inc., a biotechnology company located in Québec City, completed a financing with Philip Morris International Inc. for gross proceeds of C$15.9 million. This private placement was approved, in accordance with the policies of the TSX Venture Exchange, by the shareholders of Medicago. Medicago also entered into licensing, research and development agreements with Philip Morris International for the development and commercialization of Medicago’s proprietary plant-based production technology.
McCarthy Tétrault LLP represented Medicago with a team that was led by Philippe Leclerc.
