Biotechnology Acquisitions in Canada

Repare Therapeutics has been acquired by XenoTherapeutics, Inc. and Xeno Acquisition Corp. (jointly “Xeno”) pursuant to a statutory plan of arrangement. Under the transaction, Repare shareholders received approximately US$2.20 per share plus one contingent value right (CVR) per share; the deal was approved by shareholders and the Superior Court of Québec and will result in Repare’s delisting and suspension of public reporting.

Acuitas Therapeutics has acquired a majority stake in RNA Technologies & Therapeutics (RNA T&T), deepening a long-standing collaboration to integrate RNA payload design and LNP delivery capabilities. The investment will support RNA T&T's growth—expanding its algorithmic RNA-sequence optimization platform and small-batch GMP production—while both companies continue to operate independently and offer streamlined capabilities to partners.

Pacific Software, Inc. completed a change of control and reverse takeover (RTO) transaction with PurMinds Holdings Inc., finalizing the acquisition effective November 3, 2025 and rebranding the public company as PurMinds Enterprises, Inc. The combined company has taken occupancy of a 20,477 sq. ft. cGMP-ready pharmaceutical manufacturing and R&D facility and is pursuing OTCQX uplisting and PCAOB-audited financials to support its clinical-stage neuromedicine strategy.

Mapmygenome, an AI-driven genomics company based in Hyderabad, India, has acquired Microbiome Insights, a Canadian microbiome sequencing and bioinformatics CRO with a CAP-accredited lab. The deal expands Mapmygenome's capabilities in metagenomics and bioinformatics and accelerates its geographic expansion into North America; financial terms were not disclosed.

BioLife Solutions acquired the remaining 90% of PanTHERA CryoSolutions for $9.3 million in cash plus 241,355 shares of BioLife common stock, with up to an additional $7.2 million of stock payable upon achievement of milestones. The acquisition adds PanTHERA's proprietary Ice Recrystallization Inhibitor (IRI) technology and scientific talent to BioLife's biopreservation consumables portfolio, accelerating product capability development for the cell and gene therapy market.

BBI Solutions OEM Limited has acquired IBEX Technologies Inc., a Montreal-based developer and manufacturer of high-precision enzymes and diagnostic solutions, with the transaction closing on April 8, 2024. The acquisition expands BBI's recombinant protein and enzyme capabilities to better serve in-vitro diagnostics (IVD) manufacturers and brings IBEX's staff and contract-manufacturing capabilities into BBI's global operations.

AstraZeneca has entered into a definitive agreement to acquire Fusion Pharmaceuticals Inc., a clinical-stage company developing next-generation actinium-based radioconjugates, for $21.00 per share in cash plus a non-transferable contingent value right that could bring the total to approximately $2.4 billion. The acquisition adds Fusion's pipeline (including FPI-2265 for mCRPC), R&D and manufacturing capabilities in radioconjugates and strengthens AstraZeneca's oncology portfolio and presence in Canada.

Eilean Therapeutics LLC acquired Ness Therapeutics Inc in an all-equity transaction to obtain Ness’s preclinical PTPN2 inhibitor program. The acquisition expands Eilean’s immuno-oncology pipeline and capabilities in small-molecule inhibitors targeting resistance mechanisms in hematologic and solid malignancies.

Otsuka Pharmaceutical Co., Ltd., through its wholly owned U.S. subsidiary Otsuka America, Inc., agreed to acquire Mindset Pharma Inc. in an all-cash statutory plan of arrangement valued at approximately CAD 80 million. The acquisition adds Mindset’s next-generation psychedelic and non-psychedelic drug discovery assets and synthesis capabilities to Otsuka’s psychiatry and neurology pipeline.

UK-based integrated drug discovery CRO Sygnature Discovery has acquired Montreal-headquartered NuChem Sciences, one of North America's largest discovery contract research organisations. The deal expands Sygnature's global footprint and capabilities in medicinal chemistry, DMPK, structural biology and in vitro/in vivo pharmacology, strengthening its position in the North American market.

Solar Biotech Inc., a Norton, Virginia-based synthetic biology and bioprocessing company, has acquired Noblegen, an advanced digital biology and precision fermentation company based in Peterborough, Ontario. Noblegen will operate as Solar Biotech Canada and serve as the group's food-grade-certified biomanufacturing and R&D hub, expanding Solar Biotech's upstream/downstream capabilities and on‑the‑ground capacity in Canada.

Affiliates of biotechnology investor MPM BioImpact agreed to acquire clinical-stage biopharmaceutical company Reunion Neuroscience in an all-cash take-private transaction valued at about US$13.1 million. Reunion shareholders will receive US$1.12 per share in cash; MPM said the acquisition will support advancement of Reunion's lead psychedelic therapeutic RE104 into Phase 2 clinical development.

Recursion (NASDAQ: RXRX) entered into agreements to acquire two AI-enabled drug discovery companies, Cyclica (Toronto) and Valence (Montréal), for aggregate reported purchase prices of $40.0 million and $47.5 million respectively, payable primarily in Recursion equity and exchangeable subsidiary shares. The acquisitions add digital-chemistry, proteome-wide prediction and low-data generative chemistry capabilities to Recursion's RecursionOS and research organization to accelerate its AI-first drug discovery platform.

GSK plc agreed to acquire Canada-based late-stage biopharmaceutical company BELLUS Health for US$14.75 per share, representing an approximate total equity value of US$2.0 billion. The acquisition gives GSK access to camlipixant, a Phase III P2X3 antagonist for refractory chronic cough, and is expected to close in Q3 2023 subject to approvals.

Montreal-based contract research organization NuChem Sciences has acquired IniXium of Laval, Québec, with investment support from the Fonds de solidarité FTQ. The deal expands NuChem's structural biology and recombinant protein production capabilities—integrating IniXium's crystallography and fragment screening expertise into NuChem's drug-discovery services.

Isracann Biosciences Inc. entered into a binding letter of intent to acquire Canadian medical research company Praesidio Health Inc. under a stock transaction valued at approximately CAD 4.0 million. Praesidio develops and validates evidence-based natural health medicines (including formulations with cannabinoids and/or psilocybin) for conditions such as urological disorders, anxiety/stress, immune support and sleep.

Core One Labs Inc. (CSE: COOL) has completed the acquisition of all outstanding share capital of Awakened Biosciences Inc., adding Awakened's provisional patents and novel synthetic psilocybin production technologies to Core One's portfolio. The deal expands Core One's R&D and manufacturing capabilities in psychedelic therapeutics and secures IP that could enable lower-cost, scalable production and potential near-term revenue from non-controlled psilocybin-based compounds.

Organigram Holdings Inc. has invested an additional $2.5 million in secured convertible debentures of Hyasynth Biologicals Inc., bringing its total investment to $10.0 million. The financing is intended to advance Hyasynth's production scalability, R&D into rare cannabinoids and commercial partnerships as the company scales fermentation-based cannabinoid manufacturing.

Danaher Corporation has acquired Vancouver-based Precision NanoSystems (PNI), a developer of lipid nanoparticle delivery technologies and microfluidic manufacturing platforms for genetic medicines. PNI will join Danaher's Life Sciences platform to expand its capabilities in mRNA and genetic-medicine development and complement existing portfolio companies such as Cytiva and Pall.

Delic Holdings Inc. (DELIC), a publicly traded psychedelic wellness platform based in Vancouver, has acquired all issued and outstanding shares of Complex Biotech Discovery Ventures Ltd. (CBDV), a Vancouver-based licensed psilocybin and cannabis research laboratory, for a closing payment of $7.0 million plus up to $3.0 million of earn-out consideration. CBDV will be rebranded as DELIC Labs and will serve as Delic's R&D and IP engine for psilocybin and cannabis extraction, analytical testing, and chemical process development.

Enveric Biosciences entered into a definitive all-stock agreement to acquire MagicMed Industries, a Calgary-based biotechnology company focused on psychedelic-derived drug discovery, in an amalgamation that will make MagicMed an indirect wholly owned subsidiary of Enveric. The deal expands Enveric’s pipeline beyond cannabinoids into psychedelic-derived molecules (psilocybin, DMT derivatives, etc.), includes issuance of Enveric common stock and equity awards to MagicMed shareholders, and contemplates leadership changes with Dr. Joseph Tucker named CEO upon closing.

X-Chem, a portfolio company of GHO Capital, has acquired Montreal-based IntelliSyn and its US-based sister company AviSyn to extend its drug discovery offering into medicinal chemistry, custom synthesis and scale-up process chemistry. The deal integrates downstream hit validation and lead optimisation capabilities into X-Chem’s DNA-Encoded Library (DEL) platform, enabling a streamlined screen-to-lead service for pharma and biotech clients; financial terms were not disclosed.

Igenomix, a Spanish reproductive-genetics company, acquired Toronto-based laboratory Access Genomics (Access Genomics Canada) from Persistence Capital Partners on December 14, 2020. The acquisition expands Igenomix’s presence in North America and strengthens its ability to serve fertility clinics in the Toronto area.

Elanco Animal Health acquired Montreal-based Prevtec Microbia, maker of the Coliprotec swine E. coli vaccine line, in an all-cash transaction of CAD $78.5 million (approx. $59.9M USD) plus contingent payments of up to CAD $21.5 million. The deal brings Prevtec's commercial vaccines and R&D pipeline into Elanco to expand its swine portfolio and provide non-antibiotic alternatives for swine producers globally.

NEOMED-LABS / Pacific Biomarkers (NLPBI), an immunology-focused CRO, has acquired PAIRimmune, a preclinical immunology service provider based in Laval, Quebec. The acquisition strengthens NLPBI's assay development, ligand-binding and neutralization assay R&D capabilities, expands flow cytometry capacity, and enhances its preclinical and vaccine testing services.