Mitsubishi Tanabe completes $357 mln purchase of Medicago

Osaka, Japan-based Mitsubishi Tanabe Pharma Corp has completed its previously announced acquisition of vaccines and therapeutic proteins developer Medicago Inc (TSX: MDG) for $357 million. The Québec City-based company's shares will be de-listed from trading on the Toronto Stock Exchange this week. Medicago has since the 1990's been backed by Canadian venture capital firms, including the Fonds de solidarité des travailleurs du Québec FTQ and Innovatech, and went public in 2006.

CanadaNorth AmericaBriefs