Jonathan Page's Anandia Labs has been purchased by Aurora Cannabis
Anandia is one of the leading cannabis research firms in the country
One of the largest cannabis companies in Canada has made an important acquisition, purchasing Vancouver-based Anandia Labs for approximately $115 million.
Anandia CEO and co-founder Jonathan Page is widely considered one of the leading experts in cannabis genomics—the study of the plant’s genetic makeup. The company started in 2016 with a staff of four and $3.5 million in annual revenue, as it wasted no time in becoming one of North America’s preeminent cannabis firms.
As recently as January the company was estimated to have a $60-million valuation.
Aurora is a Health Canada-licensed cannabis producer with its headquarters in Edmonton as well as large facilities in Mountain View County, Alberta and Pointe-Claire, Quebec.
"This is a transformative acquisition that expands our science capabilities in the upstream segment of the seed-to-sale cannabis value chain, significantly boosting plant-based innovations in cultivation, enabling accelerated product development and, ultimately, enhancing our margin profile going forward," said Terry Booth, CEO of Aurora, in a release.
"Anandia has a fantastic, complementary corporate culture and some of the best and brightest minds in the cannabis industry, including Dr. Jonathan Page, the first scientist to sequence the cannabis genome. We are assembling a unique, world-class research group to capitalize on the many exciting opportunities the cannabis plant offers society."
Page agrees, saying in the same release: “Anandia and Aurora are strong believers in research and science-based solutions. Joining forces with Aurora allows us to continue to provide best-in-class testing services to our customers, while rapidly advancing cannabis science for the benefit of patients, consumers and growers."
The merger is a massive power move by Aurora as it looks to capitalize on the legalization of marijuana, promised this summer by the federal government.