Malaysian pharmaceutical company Duopharma Biotech has announced plans to invest up to $1 million into US-based biotech company, The Live Green Co (TLGC).
The investment will see Duopharma Biotech acquire shares in TLGC, enabling it to secure manufacturing, marketing and distribution rights for co-developed products in the Association of Southeast Asian Nations.
The investment follows the signing of a Collaboration Agreement between Duopharma Biotech and TLGC 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.
Leonard Ariff Abdul Shatar, group managing director, Duopharma Biotech, said: "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.”
He continued: “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."
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 Al-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 and targets, through the application of sustainable production methods, creation of value through green technology and potential carbon offsets.
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.
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.
