Malaysian-based Duopharma Biotech Bhd will invest up to US$1 million in a US-based biotech company, The Live Green Co (TLGC), to explore the use of plant ingredients and technology to replace animal, synthetic and ultra-processed ingredients in pharmaceutical products.
The investment will see Duopharma 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 and TLGC last year.
Duopharma group managing director Leonard Ariff Abdul Shatar said that this investment reflects its strategic focus for the consumer healthcare segment. “We are pursuing opportunities to venture into plant-based functional foods in response to rising demand among consumers keen to improve their health via diet, as well as patients who require special dietary food products. 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 timely.”
Following the investment, Duopharma is expected to expand into wellness and functional foods via Charaka —TLGC’s proprietary artificial intelligence-enabled search engine and discovery platform, which assists in researching and developing plant-only alternatives for animal, artificial and ultra-processed food ingredients. Duopharma’ product development collaboration with TLGC will see at least 2 reformulated products entering the market by the 4th quarter of 2024. The company’s leading consumer brands targeting plant-only or plant-based products include Flavettes, Champs, Proviton, Uphamol and Naturalle.
