PrecisionBiotics nominated for the KTI Licence2Market Award 2016.

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PrecisionBiotics (PB) has been nominated, alongside its long standing academic partner, University College Cork, for the KTI Licence2Market Award 2016. The Knowledge Transfer Ireland Awards recognise successful Knowledge transfer collaborations between Irish Higher Education Institutes, publicly funded research organisations and local and international businesses. KTI aims to encourage businesses to maximise innovation from state funded research by getting technology, ideas and expertise into the hands of business swiftly and easily for the benefit of the public and the economy.

The nomination of UCC and PrecisionBiotics for this award acknowledges the success of their partnership in bringing innovative research to market, particularly in regard to PB’s Alflorex® product with the patented 35624(R) culture. This unique strain has been shown to be safe and effective in patients suffering from irritable bowel syndrome (IBS) in several highly recognised published studies.

35624™ strain and its use were successfully patented and an extensive IP portfolio built up by PrecisionBiotics. Subsequently, PrecisionBiotics licensed certain commercialisation rights to Proctor and Gamble and in conjunction with University College Cork, collaborated on the development of P&Gs Align product, available in the US and Canada. Designed as a dietary aid in the management of Irritable Bowel Syndrome, Align is, according to a recent Euromonitor report1, the biggest probiotic brand globally.

PrecisionBiotics launched Alflorex with 35624™ culture in the Irish and UK markets and has commenced rolling out the product across Europe. Since launch, Alflorex has tracked Align’s trajectory becoming the bestselling probiotic supplement in Ireland and has won several awards including the Irish Pharmacy News Awards for Best Gastro Intestinal Product and Best Natural Product in 2016 and the US- Ireland Research Innovation award 2015.

Separately, University College Cork featured prominently in Reuters ranking of the most innovative European Universities 2016. The article cites the Universities emphasis and successful application of technology transfer. PrecisionBiotics is cited as particularly noteworthy.

PrecisionBiotics Director of Operations and IP Management, Jenny Roper commented 
“The 35624™ culture in Alflorex is the result of more than 15 years of research, IP Management and clinical trials, and so PB is delighted to be recognised at the KTI awards for this work along with our partners at UCC. We have enjoyed long and mutually beneficial relationship with University College Cork, and we have demonstrated that the combined strengths of both organisations can produce cutting edge science and world beating products. However, Alflorex is only the beginning of our story. We have an extremely exciting pipeline of new cultures in our PrecisionBiotics® range which we intend to bring to market and we continue to invest in our partnership with UCC and the APC Microbiome Institute.”

The complete shortlist for each award category is available via http://www.knowledgetransferireland.com/News/KTI-Impact-Award-Finalists-announced-for-2016.html

Winners of the KTI Impact Awards 2016 will be announced at the ceremony on the 23rd of June which will be held in the Royal Hospital Kilmainham, Dublin.

References:

1. Euromonitor International. Probiotics: Evolution of Digestion and Immune Support Probiotics (Part One). Jan 2016. Retrieved from: http://www.euromonitor.com/probiotics-evolution-of-digestion-and-immune-support-probiotics-part-one/report