Duopharma Biotech to invest US$1mil in US-based TLGC to explore plant-based ingredients, technology in pharmaceutical products
31 Jul 2023
Duopharma Biotech Bhd (DBB) will invest up to US$1 million into 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 DBB acquire 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 DBB and TLGC in 2022.
DBB group managing director Leonard Ariff Abdul Shatar said this investment reflects the company’s strategic focus for its 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 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,” he said in a statement.
Following the investment, DBB 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 researching and developing plant-only alternatives for animal, artificial and ultra-processed food ingredients.
DBB’s product development collaboration with TLGC will see at least two reformulated products entering the market by the fourth quarter (Q4) of 2024.
The company’s leading consumer brands targeting plant-only or plant-based products include Flavettes, Champs, Proviton, Uphamol and Naturalle.
Source: NST
