Medicago sells its technology factory for $1

Medicago’s head office in Quebec, including greenhouses, production rooms and offices with an area of ​​1,400 square metres, in the Quebec-Métropolitain technology park, was sold for $1.

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The sale, which was concluded before a notary on November 23, was between Medicago and Aramis Biotechnologies of Quebec. The value of the building and land is estimated at approximately $11 million, according to official documents.

The new buyer will have to pay transfer taxes to Quebec City of approximately $312,000.

Aramis Biotechnologies is a holding company whose majority shareholder is Frédéric Urs. The latter is an investor and manager in the biotechnology sector.

Aramis was founded on February 15, 2023. Newspaper I tried to contact Mr. Urs, to no avail.

Greenhouses for influenza vaccines

The facilities that Medicago has in the technology park include 1,000 square meters of greenhouses and about 400 square meters of production rooms and offices.

These greenhouses were used to grow tobacco plants to develop influenza vaccines.

On February 2, 2023, we learned of the sudden cessation of Medicago activities in Quebec, resulting in the layoff of more than 300 workers in the region, including several scientists.

The news had a shock wave effect.

Complex for sale in Destimouville

In October 2020, the federal government invested $173 million in the company, owned by Mitsubishi Chemical Group, to develop vaccines against COVID-19 and build new facilities in Quebec to accommodate vaccine production.

This massive $245 million complex located in the Estimauville strip is still looking for an owner.

The federal government has committed to purchasing up to 76 million doses of Covivens. This announcement was preceded in March 2020 by the award of a $7 million grant from the regional government, again to develop this vaccine.

Despite the approval of Health Canada, in March 2022 the World Health Organization refused to license the use of Covivens due to the presence of the tobacco company Philip Morris in the ownership of Medicago, which later transferred.