Biotech company Holista Biotech Sdn Bhd, a wholly-owned subsidiary of Australia-based Holista CollTech Ltd, has signed a five-year agreement with Rex Industry Berhad, one of Malaysia’s largest food and beverage manufacturers, for the supply of its 80Less sugar-substitute formula, which will be used by Rex for its range of low-sugar beverage drinks in Malaysia and Singapore.
Based on the supply agreement, Rex will commit to a minimum annual order amounting to AUD 1.4 million (USD 888,440) of 80Less from Holista Biotech. This represents the manufacturer’s first commercialization of 80Less, which was developed in line with the Malaysian government’s implementation of a sugar tax in July 2019 to address the growing incidence of non-communicable diseases in the country. Holista Biotech has also received expressions of interest for 80Less from six other companies.
Launched in February 2019, 80Less is a low-glycemic index (low GI) substitute to ordinary sugar, made from sucrose (table sugar) and very low levels of sucralose (an intense sweetener derived from sugar cane), which resulted in 80% fewer calories. According to Holista, one spoon of 80Less can replace five spoons of ordinary sugar for a similar taste.
(Sources: The Market Herald; Mimime Insights)