Biotechnology Acquisitions in Canada

Acuitas Therapeutics acquired a majority stake in RNA Technologies & Therapeutics (RNA T&T), deepening their existing collaboration in RNA-LNP therapeutics. RNA T&T will continue to operate independently, while the investment supports expansion of its operations, further development of its RNA sequence-optimization platform, and increased small-batch GMP-grade production for personalized and “n-of-few” therapies.

Pacific Software, Inc. (OTC: PFSF), operating as PurMinds Enterprises, announced completion of a change of control and reverse takeover (RTO) transaction with PurMinds Holdings Inc., effective November 3, 2025. Under a stock purchase agreement signed August 19, 2025, Pacific Software acquired PurMinds Holdings, which owns all outstanding shares of 10763942 Canada Inc., a clinical-stage neuromedicine business, and is proceeding with share issuance reflecting a 90/10 equity split.

Mapmygenome, an AI-driven genomics and personalized health company, announced the acquisition of Canada-based Microbiome Insights, a microbial sequencing and microbiome bioinformatics services provider. The deal includes Microbiome Insights’ CAP-accredited Canadian laboratory and intellectual property, strengthening Mapmygenome’s metagenomics and related capabilities and supporting its expansion in North America. Financial terms were not disclosed.

BBI Solutions OEM Limited (BBI) announced the successful closing of its acquisition of IBEX Technologies Inc., a Montreal, Quebec-based developer and manufacturer of high-precision enzymes and diagnostic solutions. The deal strengthens BBI’s immunodiagnostic and recombinant protein raw-materials portfolio for in vitro diagnostics (IVD), particularly supporting growing demand for haemostasis testing. Following the closing, IBEX applied to delist from the TSX Venture Exchange.

AstraZeneca entered into a definitive agreement to acquire Fusion Pharmaceuticals Inc., a clinical-stage biopharmaceutical company developing next-generation radioconjugates for cancer treatment. AstraZeneca, through a subsidiary, will acquire all outstanding Fusion shares for $21.00 per share in cash plus a contingent value right of $3.00 per share tied to a regulatory milestone, valuing the deal at approximately $2.0 billion upfront (up to about $2.4 billion including the CVR). Fusion will become a wholly owned subsidiary, with operations continuing in Canada and the United States, subject to shareholder approval and regulatory clearances.

Telix Pharmaceuticals Limited agreed to acquire and has completed the acquisition of ARTMS Inc., a Burnaby, British Columbia-based radioisotope production technology company and developer of the cyclotron-based QUANTM Irradiation System. The deal includes ARTMS’ isotope production platform, manufacturing plant/clean rooms, and stockpiles of ultra-pure rare metals used for target production, supporting Telix’s vertical integration and supply chain control for key diagnostic and future therapeutic isotopes.

Solar Biotech Inc. acquired Noblegen, an advanced digital biology company based in Peterborough, Ontario, Canada. Noblegen will be rebranded as Solar Biotech Canada and will serve as Solar Biotech’s food-grade-certified biomanufacturing and R&D hub in Canada, expanding capacity and expertise in precision fermentation and synthetic biology.

MPM BioImpact entered into a definitive arrangement agreement under which its affiliates will acquire Reunion Neuroscience Inc. in an all-cash take-private transaction valued at approximately US$13.1 million. Reunion shareholders will receive US$1.12 per common share, and upon closing Reunion will be delisted and become wholly owned by MPM affiliates.

Recursion (NASDAQ: RXRX) signed agreements to acquire AI-enabled drug discovery companies Cyclica and Valence Discovery to bolster its digital chemistry and generative AI capabilities. The deals value Cyclica at $40 million and Valence at $47.5 million, with consideration primarily paid in Recursion Class A common stock (and exchangeable shares) plus assumption of certain outstanding options. Both acquisitions are expected to close in the second quarter of 2023, subject to customary conditions.

GSK plc has agreed to acquire BELLUS Health Inc., a Canada-based late-stage biopharmaceutical company, for US$14.75 per share in cash (approximately US$2.0 billion equity value) via a Plan of Arrangement. The deal gives GSK access to camlipixant, a Phase III P2X3 antagonist in development for refractory chronic cough, and is subject to shareholder, court, and regulatory approvals.

NuChem Sciences, a Montréal-based contract research organization focused on drug discovery, acquired IniXium of Laval, Québec. The acquisition was supported by an investment from the Fonds de solidarité FTQ and expands NuChem’s capabilities in structural biology, crystallography, and recombinant protein production to enhance its integrated drug discovery services.

Edgewater Capital Partners acquired GL CHEMTEC (GLC), a North American chemistry-based contract research organization providing advanced chemistry R&D and scale-up services for Active Pharmaceutical Ingredient (API) development and advanced materials for drug delivery and medical devices. The partnership is intended to accelerate GLC’s growth and expand its API and advanced materials capabilities to meet increasing demand for onshored R&D and manufacturing collaborations.

Isracann Biosciences Inc. entered into a binding letter of intent to acquire Praesidio Health Inc., a Canadian medical research company focused on developing and validating natural health medicines. The contemplated acquisition is structured as a stock transaction valued at approximately C$4 million, aiming to create future synergies with Isracann’s planned cannabis operations in Israel and access to broader markets.

Core One Labs Inc. completed the acquisition of all outstanding share capital of Awakened Biosciences Inc., a psychedelics research and technology company with novel synthetic psilocybin production methods and related provisional patent filings. The deal was executed via a share purchase agreement dated February 9, 2022, with consideration paid in Core One common shares and share purchase warrants.

Organigram Holdings Inc. invested an additional $2.5 million in Hyasynth Biologicals Inc. through the purchase of secured convertible debentures and amended terms on certain previously purchased debentures. The proceeds are intended to support Hyasynth’s production scaling, development of new and rare cannabinoid technologies, and broader business development; the transaction brings Organigram’s total investment in Hyasynth debentures to $10.0 million across multiple tranches.

Danaher Corporation’s Life Sciences platform has acquired Precision NanoSystems (PNI), a Vancouver-based provider of lipid nanoparticle and microfluidic manufacturing technologies used in genetic medicines, including mRNA vaccines and therapeutics. PNI will join Danaher’s Life Sciences platform and complement existing businesses such as Cytiva and Pall.

Delic Holdings Inc. acquired 100% of the issued and outstanding shares of Complex Biotech Discovery Ventures Ltd. (CBDV), a licensed psilocybin and cannabis research laboratory based in Vancouver, British Columbia. Following the close, CBDV will be renamed Delic Labs and will serve as Delic’s R&D and IP engine for psilocybin and cannabis extraction, analytical testing, and process development. The purchase price was $7.0 million in Delic shares plus up to $3.0 million in additional shares under an earn-out tied to regulatory and revenue milestones.

Enveric Biosciences entered into a definitive all-stock agreement to acquire MagicMed Industries Inc., a privately held biotechnology company developing a library of next-generation psychedelic-derived drug candidates. The deal is intended to expand Enveric’s pipeline beyond cannabinoids to include psychedelic-derived molecules targeting oncology and central nervous system indications, with MagicMed becoming an indirect wholly owned subsidiary upon closing.

Core One Labs Inc. entered into a definitive share purchase agreement to acquire 100% of the outstanding share capital of Akome Biotech Ltd. The consideration consists of 3,500,000 common shares issued to Akome’s existing shareholders, positioning Core One to expand its psychedelic-drug R&D pipeline targeting neurological diseases and mental disorders.

Igenomix acquired Toronto-based laboratory Access Genomics to expand its presence in North America and strengthen its position in Canada’s reproductive medicine market. Access Genomics was owned by Persistence Capital Partners, and the deal is intended to broaden Igenomix’s client base among reproduction clinics in the Toronto area.

Blackhawk Growth Corp. acquired all outstanding share capital of Trip Pharma Inc., a privately held psychedelic development and wellness company. The deal was completed via a share purchase agreement, with Blackhawk issuing 30,000,000 common shares to Trip Pharma’s existing shareholders as consideration.

Bristol Myers Squibb entered into a definitive agreement to acquire Forbius, a clinical-stage protein engineering company developing biotherapeutics for cancer and fibrotic diseases. The deal adds Forbius’s TGF-beta program, including lead asset AVID200 (in Phase 1), to Bristol Myers Squibb’s pipeline, and includes upfront and success-based milestone payments. Prior to closing, Forbius will transfer its non–TGF-beta assets to a newly formed private company to be retained by existing Forbius shareholders.

Revive Therapeutics Ltd. entered into a letter of intent to acquire all issued and outstanding securities of Psilocin Pharma Corp. for aggregate consideration of $2.75 million, to be paid via issuance of 55 million Revive common shares. The proposed acquisition is subject to due diligence and execution of a definitive share exchange agreement with Psilocin’s shareholders.

Elanco Animal Health Incorporated acquired Montreal-based Prevtec Microbia Inc., a biotechnology company focused on vaccines that prevent bacterial diseases in food animals. The all-cash deal was valued at CAD $78.5 million and includes a contingent payment of up to CAD $21.5 million to former Prevtec shareholders if certain 2021 sales milestones are achieved. The acquisition adds Prevtec’s Coliprotec swine E. coli vaccine line and related R&D programs to Elanco’s swine portfolio and pipeline.