Hong Kong-based biotechnology start-up Prenetics and UK football star David Beckham have officially launched their health and wellness brand IM8.
The brand will introduce two new premium products, Daily Ultimate Essentials and Daily Ultimate Longevity, in its online store with shipping to 31 countries, including Hong Kong, the US, UK and Singapore.
“I’m incredibly proud of what we’ve created with IM8”, according to a statement by Beckham, who announced his “strategic” investment in Prenetics in July, adding that he was using the products himself which have had “positive impacts” on his life.
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“We’re harnessing the best of science and innovation, helping people everywhere take charge of their health and wellness.”
IM8 will focus on “cutting-edge” consumer health products, according to Nasdaq-listed Prenetics.
IM8 Daily Ultimate Essentials is an all-in-one-flavoured powder that works as a comprehensive daily nutrient supplement, including 16 daily supplements that supports heart health, and supports the joints and muscles. IM8 Daily Ultimate Longevity is a one-a-day capsule aimed to target cellular rejuvenation and healthy ageing.
The global health supplement industry is projected to grow from US$167.5 billion in 2023 to US$239.4 billion by 2028, according to data research company Markets and Markets. Factors driving this trend include increasing ageing populations globally.
China’s health supplements market was valued at US$45.5 billion in 2023, according to iiMedia Research.
It is growing rapidly due to increased health awareness post-Covid-19, with strong demand across vitamins, herbal products, sports nutrition, and weight management and its projected to balloon to US$58.2 billion by 2027.
In July, Prenetics said Beckham met with its shareholder Dennis Lo Yuk-ming, director of the Li Ka Shing Institute of Health Sciences and professor of chemical pathology at the Chinese University of Hong Kong.
In 1997, Lo discovered the presence of fetal DNA in maternal plasma, making it possible for subsequent pioneering use of such markers for non-invasive prenatal diagnosis.
He also pioneered a number of approaches to cancer liquid biopsy, especially for the detection of nasopharyngeal carcinoma and the screening of multiple types of cancer.
Prenetics has grown from a small Hong Kong genetic testing laboratory into a company that also offers cancer screening for doctors to prescribe targeted therapies to treat specific types of cancer. It also has operations in the UK, Taiwan, Japan and Southeast Asia.
In 2022, Prenetics bought most of Taiwan-based ACT Genomics, which offers genomic tests to improve patients’ outcomes through cancer diagnosis, treatment and monitoring.
“We are incredibly excited to unveil IM8 to the world – a brand that represents the pinnacle of health and wellness,” said Danny Yeung, the CEO of Prenetics.
“Partnering with David, whose vision for a healthier, balanced lifestyle aligns perfectly with ours, has made this project truly special,” Yeung added. The products retail for US$95-US$99 or at discount through a subscription.
Prenetics’ net loss narrowed to US$64.8 million last year, from US$190.5 million in 2022, as revenue grew 65 per cent to US$21.7 million.
Much of its revenue came during the coronavirus pandemic, when it was the only Hong Kong-headquartered laboratory appointed by the city’s government in the first phase of community Covid-19 testing across high-risk clusters. It was also one of the biggest providers of Covid-19 rapid test kits in Hong Kong.
More from South China Morning Post:
- David Beckham is ‘strategic investor’ in Hong Kong’s Prenetics to set up IM8 health brand
- CUHK’s Dennis Lo launches blood tests with Prenetics Group to find cancer cells in the liver and lungs, propelling Hong Kong’s role as R&D hub for life sciences
- Adrian Cheng-backed start-up Prenetics acquires majority stake in Hong Kong biotech firm ACT Genomics
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