May 14, 2020
CanBiocin expands with US acquisition
CanBiocin Inc., which produces species-specific probiotics to support pet and livestock health, has acquired all of the assets of Pure Cultures Inc. based in Denver, Colorado effective April 30, 2020, reported Business Wire.
CanBiocin is a biotechnology company based in Edmonton, Canada.
Pure Cultures' assets include proven species-specific probiotics, a US patent for probiotics and fermentation metabolites for the prevention and treatment of disease conditions in animals as well as products for poultry and pigs marketed under the brand names Flock Vitality® and Pig Vitality™. Deal terms were not disclosed.
"Pure Cultures' founder and CEO Steve Kazemi has a shared vision and passion for improving pet and livestock health through enhanced nutrition backed by science and focusing on gut health," said CanBiocin CEO Dr J.F. (Jake) Burlet. "CanBiocin's portfolio of species-specific probiotics support animal health by building health through the gut microbiome. The microbiome is the community of microorganisms residing in the intestinal tract and is responsible for digestion, metabolism, immune function and protecting against harmful bacteria," says Burlet.
This acquisition firmly establishes CanBiocin operations in the US Kazemi, a seasoned biotechnology veteran, joins CanBiocin as Chief Commercialization Officer.
"Pure Cultures has made significant investments in developing novel products to develop a healthy gut," said Kazemi. "Our focus has been developing natural alternatives to curb or eliminate the use of antibiotics in livestock while improving productivity."
CanBiocin successfully raised funds to close the transaction during the COVID-19 global pandemic; an unprecedented time of business uncertainty. "Our preparedness and willingness to explore all avenues for transaction funding allowed us to access the necessary liquidity for this deal," stated Burlet.
Around the world, people have leaned on their pets for comfort and companionship during extended periods of self-isolation. The importance of supporting and bolstering animal health for pet family members has never been more front and centre. CanBiocin, together with an expanded suite of species-specific probiotics sourced via this asset purchase from Pure Cultures, has clearly positioned itself as a global leader with deep subject matter expertise in microbiome support," said Dr Burlet.