Duopharma Biotech Bhd is set to invest up to USD1 million into US-based Biotech company, The Live Green Co (TLGC).
The investment will see Duopharma Biotech acquiring shares in TLGC, enabling the Duopharma Biotech to secure manufacturing, marketing and distribution rights for co-developed products in Southeast Asia.
The investment follows the signing of a Collaboration Agreement between Duopharma Biotech and TLGC in 2022 (main image), 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.
“This investment reflects Duopharma Biotech’s strategic focus for our Consumer Healthcare segment,” said Leonard Ariff Abdul Shatar, Duopharma Biotech group managing director.
“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 TLGC 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.”
Duopharma Biotech is expected to expand its product offerings into wellness and functional foods via access to Charaka – TLGC’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.
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 TLGC are shown to produce up to 97 per cent less greenhouse gas emissions, as well as have up to 60 per cent lower energy demand and up to 99 per cent lower blue water consumption.
As one of the first Food Tech companies to be B Corp certified globally, TLGC 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.
Duopharma Biotech’s product development collaboration with TLGC 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 include Flavettes, Champs, Proviton, Uphamol, and Naturalle.
