Medicago invests $4M in Quebec R&D expansion
Biotech company Medicago Inc. is investing about $4 million and creating 20 new jobs as it expands its Quebec research plant.
QUEBEC: Biotech company Medicago Inc. is investing about $4 million and creating 20 new jobs as it expands its Quebec research plant.
The company said new investment includes capital spending and labour costs, as well as preclinical studies to speed up research for a rabies vaccine and other drugs.
“We are happy to invest in our local community with the addition of approximately 20 new employees in 2012,” said Andrew Sheldon, president and CEO of the company.
Medicago is a clinical-stage biotech company developing vaccines and therapeutic proteins to treat infectious diseases.
The company uses proprietary technologies it says will speed up and lower the costs of developing vaccines.
© 2012 The Canadian Press