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Bioeconomy Corporation Leads BioNexus Product Expansion: Glyken-C1Q2 Partnership at AGRAME 2023 Valued at USD 6 Million

DUBAI, 13 October 2023 – Malaysian Bioeconomy Development Corporation (Bioeconomy Corporation) is pleased to announce a groundbreaking Memorandum of Agreement (MOA) between BioNexus Status company, Glyken Bio Products Sdn Bhd (Glyken), and C1Q2, a brand under Cambio Group Sdn Bhd. This strategic partnership marks the latest milestone in Malaysia’s biotechnology sector, particularly in the bird’s nest industry.

Under the MOA, Glyken is poised to lead the way in conducting innovative research, product improvement, and the manufacturing of bird’s nest-based active glycoprotein products using state-of-the-art biotechnology processes. C1Q2 will assume the role of exclusive marketing and distribution entity, with the exception of Singapore and China, ensuring the reach of Glyken’s glycoprotein products directly to consumers through C1Q2’s expanding network of business associates.

This agreement was strategically conceived not only to enhance local marketing and distribution of Glyken’s bird’s nest products but also to foster a global presence. This partnership further drives Glyken’s cutting-edge biotechnology in the bird’s nest industry product development while underlining their commitment to continuous research and commercialisation through validated biotechnology processes. The collaboration with C1Q2 will offer consumers improved, high-quality, and sustainably sourced products, thus contributing to better business growth in the bird’s nest industry, driven by biotechnology.

Chief Executive Officer of Bioeconomy Corporation, En Mohd Khairul Fidzal Abdul Razak stated, “Bioeconomy Corporation is proud to facilitate the creation of this strategic partnership between Glyken and C1Q2. This MOA is a catalyst for further growth in the bird’s nest downstream bio-based industry, as it is projected to bring an economic impact of USD 6 million in sales and business growth from 2023 to 2024. This is a testament to the immense potential within Malaysia’s biotechnology sector that adds value to the thriving food and wellness industries like bird’s nest while generating substantial financial gains and economic growth for Malaysia. Bioeconomy Corporation will continue to support BioNexus Status companies and match them with strategic partners in their journey towards global recognition and success.”

Chief Executive Officer of Glyken, Mr. Eric Shak, expressed his enthusiasm for this latest collaboration with C1Q2, sharing, “Bioeconomy Corporation’s continuous facilitation and dedicated industry support have been instrumental in making this collaboration a reality. Notably, this partnership opens doors for Glyken as a BioNexus product, providing access to the Gulf as well as Middle East, and North African (MENA) market. This signifies our strong foundation, and we are confident that it will serve as a springboard for further growth in this dynamic industry.”

Chief Executive Officer of the C1Q2 brand, Mr. Nic Lim said, “We express our gratitude to Bioeconomy Corporation, the Malaysian Consulate General, and Matrade for their vital role in this significant event. This marks another achievement in C1Q2’s ongoing growth, expanding sustainable business opportunities for our partners with well-researched and recognised products, as proven and developed by BioNexus Status companies. Through this partnership with Glyken, we aim to contribute to the growth of the biotechnology industry in Malaysia and beyond, supported by the initiatives of Bioeconomy Corporation.”

The agreement was officially signed between Chief Executive Officer of Glyken, Mr Eric Shak and Chief Marketing and Merchandising Officer of C1Q2, Ms. Megannd Koay at the Dubai Agra Middle East (AGRAME) 2023 event, graced by esteemed guests, including the Consul General at the Consulate General of Malaysia, En. Mohd Fadly Amri Aliaman, Consul (Trade) and Trade Commissioner at the Malaysia Trade Centre in the United Arab Emirates (UAE), En. Megat Iskandar Ahmad Dassilah, and Chief Executive Officer of Bioeconomy Corporation, En. Mohd Khairul Fidzal Abdul Razak. The collaboration was realised with the support of Bioeconomy Corporation, the Malaysian Trade Centre, and the Ministry of Agriculture and Food Securities, Malaysian Consulate in UAE. It is part of a concerted effort to showcase Malaysia’s homegrown technologies and drive market expansion for several BioNexus Status and Bio-based Accelerator (BBA) companies participating at AGRAME 2023, including Glyken Bio Products Sdn Bhd, Pulsy Technology Sdn Bhd, GK Aqua Sdn Bhd, and YHLF Biotech Sdn Bhd. The strategic cooperation aligns with Bioeconomy Corporation’s commitment to optimising opportunities for these companies in the Gulf and MENA regions, in line with the goals of National Biotechnology Policy 2.0 to accelerate commercialisation and establish a global presence for BioNexus Status companies.