Investment into US-based Biotech company part of Consumer Healthcare growth strategy focused on plant-based functional foods in response to growing demand
KUALA LUMPUR, 31 July 2023 – Duopharma Biotech Berhad (“Duopharma Biotech” or “the Company”) has received approval by its Board of Directors to invest up to USD 1 million into US-based Biotech company, The Live Green Co (TLGC). The investment will see Duopharma Biotech acquiring shares in TLGC, enabling the Company to secure manufacturing, marketing and distribution rights for co-developed products in ASEAN.
The investment follows the signing of a Collaboration Agreement between Duopharma Biotech and The Live Green Co. in 2022 to explore the use of plant ingredients and technology to replace animal, synthetic and ultra-processed ingredients in pharmaceutical products and wellness foods, in response to increasing consumer interest and demand.
“In line with our vision of “Providing Smarter Solutions for a Healthier Life” and our mission of being the “Leading Healthcare Group Providing Quality and Innovative Solutions”, this investment into The Live Green Co. reflects Duopharma Biotech’s strategic focus for our Consumer Healthcare segment. We are pursuing opportunities to venture into plant-based functional foods in response to rising demand among consumers keen to improve health via their diet, as well as to serve the needs of patients who require special dietary products, such as diabetic-friendly foods. Since our signing of a Collaboration Agreement with The Live Green Co. last year, their innovations such as Charaka™ and Precision Fermentation are more relevant than ever in today’s market, so this expanded commitment and partnership is indeed timely,” said Leonard Ariff Abdul Shatar, Group Managing Director, Duopharma Biotech Berhad.
Following the investment, Duopharma Biotech is expected to expand its product offerings into wellness and functional foods via access to Charaka™ – The Live Green Co.’s proprietary AI-enabled search engine and discovery platform, which assists in the research and development of affordable plant-only alternatives for animal, artificial and ultra-processed food ingredients.
Supporting Duopharma Biotech’s ESG focus
Meanwhile, the investment is also consistent with Duopharma Biotech’s ESG policy and climate-related pledges such as Net Zero and Carbon neutrality targets, through the application of sustainable production methods, creation of value through green technology and potential carbon offsets. The substitution of plant-only alternatives for animal, artificial and ultra-processed food ingredients improves sustainability with less carbon emissions and more efficient use of natural resources. Products or ingredients produced by The Live Green Co. are shown to produce up to 97% less greenhouse gas emissions, as well as have up to 60% lower energy demand and up to 99% lower blue water consumption.
As one of the first Food Tech companies to be B Corp certified globally, The Live Green Co. is also a leader in the global movement for an inclusive, equitable and regenerative economy. The B Corp Certification indicates that a business is meeting high standards of verified performance, accountability and transparency on multiple factors, from employee benefits and charitable giving to supply chain practices and materials used in production.
Currently, Duopharma Biotech’s product development collaboration with The Live Green Co. is scheduled to see at least two reformulated products entering the market by Q4 2024. Leading consumer brands targeted to introduce plant-only or plant-based products includes Flavettes, Champs, Proviton, Uphamol and Naturalle, among others.