Front Range Biosciences acquires Steep Hill R&D team

LAFAYETTE — Front Range Biosciences Inc., an agricultural biotech company focused on high-value crops such as cannabis, has acquired the research and development team of Steep Hill Inc., a California-based cannabis genetics testing and analysis firm.

“The Steep Hill R&D team is among the top three cannabis genomics groups in the world, and we are very excited to welcome them to FRB,” CEO Jonathan Vaught said in a prepared statement. “This acquisition is a major value inflection point for FRB, as the intellectual property we acquired significantly expands the value of our current portfolio and provides a multi-year leap in the speed of our IP filings. We look forward to strengthening the viability of the cannabis industry with such a monumental collaboration between leaders of agricultural sustainability through science.”

In addition to bringing on Steep Hill’s 10-person research and development team, FRB has entered into a collaborative licensing agreement with Steep Hill, according to a company news release.

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“Through this agreement, FRB will accelerate its marker-assisted breeding program and develop new traits and varieties to bring continued innovation to the cannabis and hemp industry,” the release said.

Terms of the research and development team acquisition and licensing agreement were not disclosed.