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UCC among backers to share €80m as campus startup sold


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Clean-up: TV presenter and writer Maia Dunphy launching the Zenflore-backed digital detox campaign Photo: Leon Farrell / Photocall Ireland

Clean-up: TV presenter and writer Maia Dunphy launching the Zenflore-backed digital detox campaign Photo: Leon Farrell / Photocall Ireland

Photocall Ireland

Clean-up: TV presenter and writer Maia Dunphy launching the Zenflore-backed digital detox campaign Photo: Leon Farrell / Photocall Ireland

The €80m sale of Cork-based PrecisionBiotics is set to benefit shareholders including University College Cork (UCC), Enterprise Ireland and dozens of private investors alongside top executives at the probiotic gut health company.

Stock market-listed Danish biotechnology group Novozymes is buying the Cork company for €80m to expand its business in the area of biological solutions for mouth and gut health.

PrecisionBiotics was spun out from UCC in 1999 as Alimentary Health. Its patented probiotics are used in treatments, including for the symptoms of irritable bowel syndrome, which affects as many as 15pc of adults, including around twice as many women as men.