Not all bacteria are bad
We’re a multi-award winning biotechnology company that was established to support doctors treat patients with helpful bacteria
EuroBiotix CIC is a Community Interest Company (CIC) working in the biotechnology and healthcare sectors. EuroBiotix CIC is registered in Scotland under the company number of SC490561 and is based at the University of Aberdeen.
A Community Interest Company is a special form of limited company that exists to benefit the community rather than private shareholders. By law, CIC’s must use their profits and assets for the public good.
We formed EuroBiotix CIC after recognising that NHS clinicians who wish to perform a medical treatment called Faecal Microbiota Transplantation (FMT) are faced with a number of difficulties. One difficulty is that, because there is no national NHS donor registry, it is hard to find suitable donors for the procedure. In addition, the requirement for clinicians to prepare the material themselves, which takes time and is somewhat unpleasant, is a further challenge that undoubtedly deters the clinician from administering FMT – even in patients for whom it may be the preferred treatment.
Our goal is to improve the lives of patients through the power of the human microbiome, and to support heath services and clinicians perform FMT. To do so, we are developing a range of market leading services and products that will catalyse scientific research and dramatically reduce the costs and hassle that are currently associated with providing FMT.
Since incorporation in November 2014 we have won a number of innovation competitions, formalised research partnerships with Universities and hospitals, built strong links with government and charities, and secured many letters of support from clinicians and researchers around the country.
A community interest company is a special type of limited company that exists to benefit the community rather than solely private shareholders. A CIC limited by shares is a relatively new legal form that was created to bridge the gap between charities and for profit organisations. CIC’s differ from private limited companies in a number of ways. CIC’s have a ‘dividend cap’, which ensures that a CIC limited by shares can only distribute 35% of profits to shareholders, and the remaining 65% must be reinvested into the company’s community objectives (as outlined in its articles of association). In addition to dividend cap, all CIC’s have an ‘Asset Lock’. Its existence means that all assets and profits (aside from those distributed in accordance with the rules on dividend capping) must be retained within the CIC and used solely for community benefit. Finally, a CIC regulator ensures that CIC’s maintain their community purpose
The founders chose to incorporate as a CIC in order to serve their vision as being a company with a primary aim to support patients suffering from microbiome mediated conditions. The requirements of an asset lock and community purpose by the CIC regulator ensure that this social mission is protected.