Canadian firm snaps up U.S. aquaculture R&D facility
The Centre for Aquaculture Technologies Canada (CATC) is expanding its fish feed research capability with its recent purchase of the facilities of Indiana-based Elanco Animal Health Inc.
The firms signed an agreement late December last year for the sale of Elanco’s aqua research and development facility in Victoria, Prince Edward Island to CATC. The transaction is expected to close in the first quarter of 2020, according to a press release from Elanco. Financial terms of the deal have not yet been disclosed.
CATC is primarily focused on fish health and fish nutrition R&D and commercialization. The company’s areas of interest include the development and execution of molecular diagnostic assays, and coordination of breeding and genomics programs, and characterization of new products. CATC’s products aim to enhance sustainability and efficiency in aquaculture.
Elanco is a global animal health company that develops products and knowledge services to prevent and treat disease in food animals and pets. The company’s facility in Canada was added to Elanco’s property as part of its purchase of Novartis in 2015.
“We are excited to continue to grow our aquaculture health and nutrition research services business in PEI, and have great plans for use of the facility,” said John Buchanan, CEO of CATC.
Acquiring the R&D facility in P.E.I. fits into CATC’s current expansion plans. The facility will provide the company with greater flexibility and access to more tank space and size for its tank-based research.
Elanco’s intent to sell its R&D facility was announced by the company back in September last year.
With the finalization of the deal with CATC expected to close this year, Aaron Schacht, Elanco’s executive vice president for innovation, regulatory and business development.
“We are extremely grateful for the efforts, hard work and all contributions everyone at the Victoria R&D facility has made to the Elanco pipeline and the industry,” he said. “We are equally pleased to reach an outcome that keeps the site operational in the Victoria community with a group that values furthering the future of aquaculture.”