Danish biotech company Novozymes has acquired PrecisionBiotics Group for DKK 600 million ($90.3 million approx.), in a move aimed at advancing its business within human health.
Based in Cork, Ireland, PrecisionBiotics Group has developed a portfolio of human-origin probiotic strains, targeting different areas including gut health.
Novozymes offers a range of biological solutions, including enzymes and microorganisms, for industrial applications spanning areas such as wastewater treatment, agriculture, and the production of everyday household products.
The company has also established OneHealth to market its solutions within human health under one umbrella, and says this has been identified as a key growth area for the business.
“This acquisition fits well with our strategy, ‘better business with biology’, where we have focus on human health as one of our opportunities for growth,” said Ester Baiget, president and CEO of Novozymes.
“With this investment, we take another important step in implementing the strategy and setting a foundation of growth for our business.”
The company says that when combined, enzymes and probiotics work ‘synergistically’ to deliver health benefits.
“PrecisionBiotics Group brings in complementary technologies, a similar science-based approach and a matching culture,” Baiget added.
“With our unique expertise within discovery and enzymes and PrecisionBiotics’ strong capabilities and network within probiotics for human health, we will be in a unique position. It’s a position where we can expand market opportunities and develop new and highly efficient products.”
Barry Kiely, CEO and co-founder of PrecisionBiotics Group, added: “By becoming a part of Novozymes, we will get a global presence across businesses and new capabilities within science and discovery of new strains.
“This will help us to grow by developing new products where we can combine enzymes and probiotics. We look forward to speeding up the development of our pipeline and to a global roll out of products to accelerate growth.”
© FoodBev Media Ltd 2020