From IPO to a $357 million sale
Medicago was a clinical-stage biotechnology company focused on developing highly effective and competitive vaccines based on proprietary manufacturing technologies and Virus-Like Particles (VLPs).
Medicago was acquired by Mitsibushi Tanabe Pharma in July 2013 for approximately CAD $357,000,000.
- September: Identified as a potential investment and due diligence initiated
- February: Negotiated a $2MM financing at a $5MM valuation
- March: Lead a $2.6 million 'save the company' financing
- April: Core Capital (formerly Hamza Thindal Capital Corp.) commences capital markets advisory
- October: Philip Morris Inc. (PMI) invests $16 million and licenses technology
- September: Medicago enters Phase I Clinical Trial
- March: US Department of Defence (DOD) grants Medicago $21 million to build a vaccine manufacturing facility in North Carolina
- October: PMI invests an additional $22.5 million
- March: Mitsibushi Tanabe Pharma Corp. and Medicago form a strategic alliance
- July: Mitsibushi Tanabe Pharma Corp. acquires Medicago for $357 million
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