Malaysia Welcomes Second Unicorn: Alps Global Holdings Heads to NASDAQ 🦄🚀

[Muichiro.T]

Malaysia has celebrated a significant milestone as ALPS Global Holding Bhd (ALPS) has become the country's first biotechnology firm to achieve unicorn status, with an expected NASDAQ listing in Q4 2024 at an enterprise value of around $1.6 billion. This achievement supports the National Biotechnology Policy 2.0's goal of establishing three bio-innovation unicorns by 2030. ALPS joins Carsome Sdn Bhd as the second Malaysian unicorn. The company, which focuses on utilizing human cells for medical and wellness applications, is set to merge with Globalink Investment Inc. to form Alps Life Science Inc. and will be listed on NASDAQ. At the National Bioeconomy Exhibition 2024, 11 memoranda of understanding valued at MYR1.5 billion were signed, highlighting the robust growth of Malaysia’s biotech sector, which has attracted investments totaling MYR14.3 billion and contributed MYR37.5 billion to the national economy.

 

[suga98]

I think Alps Global Holdings making it to NASDAQ is impressive though. How do you think this will impact other Malaysian startups looking to go public?

 

[Muichiro.T]

I think Alps Global Holdings making it to NASDAQ is impressive though. How do you think this will impact other Malaysian startups looking to go public?

Absolutely, it's a huge milestone! Alps Global Holdings hitting NASDAQ could definitely inspire other Malaysian startups, showing that the US market is within reach and opening doors for more international expansion. Thanks for the suggestion!