EAHI will sell its aqua research and development facility located in Victoria, Prince Edward Island to CATC.
"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,” said Aaron Schacht, executive vice president of Innovation, regulatory and business development at Elanco.
“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.”
“We are excited to continue to grow our aquaculture health and nutrition research services business in Prince Edward Island and have great plans for use of the facility,” said John Buchanan, CEO at CATC.
Elanco is looking to build a stand- alone animal health company. Earlier in 2019, the company was looking for a buyer for its Victoria facility. The transaction between the two companies will take in the first quarter of 2020. The price of the deal was not disclosed in the statement released by Elanco.
Elanco is an American global animal health company that develops products and knowledge services to prevent and treat disease in food animals and pets in approximately 90 countries. Elanco has been in business for 64 years and has 5,700 employees.
The Center for Aquaculture Technologies Canada is a contract research organization that provides support for R&D and commercialization activities in the aquaculture industry. It also offers genotyping, fish additive and nutrition trials, biotechnology, fish health, and molecular biology.