London/Berlin, 15 May 2024 — Pangea Bio*, a company developing neurological therapeutics by using AI to uncover promising molecules from medicinal plants, has today announced its certification as a B Corporation (or B Corp), joining a growing movement of companies that are reinventing business for the benefit of all people and our shared planet. Verified by B Lab, the not-for-profit behind the B Corp movement, the achievement demonstrates that Pangea meets high standards of social and environmental performance, transparency, and accountability alongside a commitment to goals beyond shareholder value.
The news comes as the ongoing climate crisis and widening social inequality continue to pose urgent challenges to our economy. B Corp Certification assesses the entirety of a business’ operations and currently covers five main impact areas: Governance, Workers, Community, Environment and Customers. The certification process is rigorous, with companies required to reach a score of 80 points in the B Impact Assessment while providing evidence of responsible practices relating to energy supplies, waste and water use, worker compensation, diversity, and corporate transparency. A business must also legally embedded their commitment to purpose as well as profit in their company articles.
Pangea is now part of a growing community of over 8,000 businesses globally that have certified as B Corps, and one of the first biopharma companies to become a B Corp. Pangea completed the certification for both Pangea and its spin-off Kanna Health, where Pangea still holds a 40% stake.
Julia Wilde, Pangea’s Chief People and Impact Officer and Co-Founder, says: “We are beyond excited that we are now a B Corp, with an impact score of 85,5. From the moment we started Pangea, we had the vision to build a company that brings value to all people and the planet. Working with medicinal plants specifically has made it a central part of our mission that we want to comply with the Nagoya Protocol and preserve traditional knowledge. We are proud to join a community of businesses that are leading a global movement for an inclusive, equitable, and regenerative economy and we hope to inspire other companies in our field to change the biopharma industry for the better.”
Chris Turner, executive director of B Lab UK, says: “Welcoming Pangea Bio to the B Corp community is hugely exciting. Its commitment to doing business differently will be an inspiration to others and will help spread the notion that success in business is as much about people and planet as it is profit.”
More details about Pangea's B Corp certification their impact score: https://www.bcorporation.net/en-us/find-a-b-corp/company/pangea-botanica-ltd/
For more information please contact info@pangeabio.com.
* Pangea Bio is a trading name of Pangea Botanica Ltd
About B Lab: B Lab is transforming the global economy to benefit all people, communities, and the planet. A leader in economic systems change, our global network creates standards, policies, tools, and programs for business, and we certify companies — known as B Corps — who are leading the way. To date, our community includes 730,000 workers in over 8,000 B Corps across 95 countries and 162 industries. More than 280,000 companies manage their impact with the B Impact Assessment and the SDG Action Manager. B Lab has created and led efforts to pass over 50 corporate statutes globally that enable stakeholder governance, with over 10,000 companies using the legal framework. To learn more and join the movement, visit www.bcorporation.net.
About B Lab UK: As part of this global non-profit network, B Lab UK’s purpose is to redefine success in business through building a community of engaged businesses, raising awareness of the B Corp movement and influencing change in the UK economy. Find out more.
About B Corp Certification: B Corp Certification doesn’t just evaluate a product or service, it assesses the overall social and environmental impact of the company that stands behind it. To achieve B Corp Certification, a company must meet a score of at least 80 points on the B Impact Assessment, an evaluation of a company’s positive impact, and pass a risk review, an evaluation of a company’s negative impact; change their corporate governance structure to be accountable to all stakeholders, not just shareholders; and exhibit transparency by allowing information about their B Corp Certification performance to be publicly available on their B Corp profile on B Lab’s website. B Corps recertify every three years and once certified, are expected to increase their score over time as they progress towards becoming more equitable, inclusive and regenerative businesses.
B Lab Contact: media@bcorporation.uk
