Medicago closure Difficult to find a buyer says one of

Liquidation of Medicago: A recovery plan presented to Minister Pierre Fitzgibbon by a Quebec group

The Department of Commerce has received a recovery plan to save Medicago. Minister Pierre Fitzgibbon confirmed that several partners, including Laval University, want to open a scientific center in Beauport in the company’s infrastructure.

• Also read: A New Innovation Center in Quebec: A recovery plan is taking shape for Medicago

• Also read: Quebec City: Medicago promised land vacant since May 2022

The Quebec Ministry of Commerce and Canada’s Ministry of Innovation received a plan from the University of Quebec-Laval CHU Research Center, the National Optical Institute, the University of Laval and Quebec International.

“It is clear that we have to set up an NPO. I want the city to be involved, I want the university to be involved. Investissement Québec, yes it’s a mechanism,” said Economy Secretary Pierre Fitzbiggon, claiming he was “relatively” confident but that “it’s not going to be easy.”

“For Medicago to continue as it is today, that will not happen. It will be a small Medicago. There are researchers who are qualified. It has an API [structure commerciale] Quality. So perhaps we have a more modest version,” Minister Fitzbiggon said.

“The building can be used for other purposes, but we want to create some kind of biomedical center. We talked a lot about it with former mayor and mayor Bruno Marchand. He can help us (…) We take care of the city, we take care of the CHUL, we also take care of the other players. It’s complex,” he explained.

In late April, the mayor of Quebec confirmed to the Journal that there will not be a single buyer for the Medicago facilities, but rather the creation of an innovation hub. The city of Quebec wanted to be inspired by Namur to attract businesses there.

Medicago's Phase III Trial Delivered Results p

A lot of work

Last February, Mitsubishi Chemical Group announced its decision to dissolve the Quebec City-headquartered company and liquidate operations in Canada and the United States.

Since then, Quebec and its partners have wanted to salvage the technology and existing labs and find a purpose for the new building under construction.

“Several things are happening at the same time. The federal government is negotiating with Mitsubishi. We are also at the building,” said Pierre Fitzgibbon.

It will be up to the Japanese company to have the last word. “They owe us money (…) We have a good relationship with Mitsubishi. I think they want to make things right and it would be sad if that all went away. We work hard.”

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