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Move confirms the Company's commitment to bring to market scientific and clinically based therapeutic solutions derived from plants and sets the path for the development of next generation therapeutic solutions including botanical drugs.
BioHarvest Sciences Inc. (CSE: BHSC) ("BioHarvest" or the "Company") has hired Dr. Brian S. Cornblatt as its Chief Medical Officer, marking a significant milestone in the Company's route for the development of next generation therapeutic solutions including botanical drugs.
Dr. Cornblatt has served as Director of Consumer Clinical Research and Science and as Medical Director at Nutramax Laboratories Consumer Care, Inc. In this role Dr. Cornblatt developed novel nutraceutical formulations, designed both in vitro and clinical studies in support of products, and summarized both supporting laboratory and clinical research for healthcare workers and consumers. His most recent development has been a novel line of products (and 18 related clinical trials) which deliver the essential ingredients needed to support the production of sulforaphane, a phytochemical with many emerging indications. Dr. Cornblatt is also the inventor of three issued patents and four pending provisional patents focused on plant-based bioactive compounds and health promotion.
Prior to moving to Nutramax Laboratories in 2010, Dr. Cornblatt was the Scientific Director and Developer of the Catholic Health Initiatives' (CHI) Center for Translational Research (CTR), a combined molecular research laboratory, national biorepository, and diagnostics laboratory. The CTR supported research initiatives throughout CHI's forty Oncology centers.
Dr. Brian S. Cornblatt
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Dr. Cornblatt is a Johns Hopkins University School of Medicine Graduate with a Ph.D. in Pharmacology and Molecular Sciences and a postdoctoral fellowship from the Johns Hopkins Bloomberg School of Public Health, Environmental Health Sciences Division of Toxicology.
"We are delighted to welcome Dr. Cornblatt to the leadership team at BioHarvest at a time of transition and growth for us," said BioHarvest CEO Ilan Sobel. "He will help us lead the charge as we take steps to actively expand our line up of clinically based nutraceutical products and move into medicinal prescription products with our polyphenol-based products and Cannabis product line up."
Dr. Cornblatt said "I am excited about the opportunities that BioHarvest has in the medicinal space based on the CELLicitation™ technology. Some of the existing products can already form a potential for future botanical drugs and I am looking at expanding the indications for which unique products like VINIA® can be used. I look forward to working with the capable R&D team to bring to the world unique, clinically based therapeutic solutions."
BioHarvest is seeking to receive authorization in Israel to produce Cannabis for commercial purposes and is also looking to expand production facilities to North America. BioHarvest recently announced that it has produced a meaningful amount (10 kilograms) of full-spectrum Cannabis biomass at a commercial scale without growing the plant itself. (For full illustration, Watch this video or visit https://bioharvest.com. It is the first time that any group - in either industry or academia - has successfully produced meaningful quantities of full-spectrum Cannabis biomass without growing the plant itself. The Cannabis biomass is not genetically modified and was produced using the Company's proprietary BioFarming technology platform, which grows plant cells in their natural structure in proprietary bioreactors. The company has also recently (May 12) unveiled the profile of its unique Cannabis composition. It contains major and minor cannabinoids as well as terpenes.
BioHarvest has a market capitalization of approximately CAD$131M and has raised over CAD$ 58M to date. The Company holds unique patented technology that allows it to produce a unique grade of full spectrum, consistent, and clean Cannabis biomass in industrial-scale bioreactors with manufacturing costs which are significantly below industry benchmarks. Its offering will consist of multiple unique Cannabis compositions selected based on specific indications and B2B customer requirements.
About BioHarvest Sciences Inc.
BioHarvest Sciences Inc. (CSE: BHSC) is a fast-growing Biotech firm listed on the Canadian Securities Exchange. BioHarvest has developed a patented bio-cell growth platform technology capable of growing the active and beneficial ingredients in fruit and plants, at industrial scale, without the need to grow the plant itself. This technology is economical, ensures consistency, and avoids the negative environmental impacts associated with traditional agriculture. BioHarvest is currently focused on nutraceuticals and the medicinal cannabis markets. Visit: www.bioharvest.com.
Ilan Sobel, Chief Executive Officer
For further information, please contact:
Investor Relations
Phone: 778.686.3855
Email: info@bioharvest.com
Forward-Looking Statements
Information set forth in this news release might include forward-looking statements that are based on management's current estimates, beliefs, intentions, and expectations, and are subject to a number of risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. There is no assurance that the Company will be successful in expanding its technology to broader medical applications or conduct clinical trials to validate the efficacy of the Company's products for new forms of medical treatments. There is no assurance that the ability to produce a commercial sized biomass will result in the Company entering into commercial production of Cannabis. Clinical trials are subject to risks of significant cost overruns and lengthy delays with no assurance they will confirm desired results. Even where desired results are obtained government approvals for treatments take considerable time and cannot be guaranteed. There is no assurance that we will achieve our objective of being a leading supplier of Cannabis. Delays and cost overruns may result in delays achieving our objectives. Obtaining market acceptance and regulatory approvals for geographic expansion is subject to risk and cannot be guaranteed. Projected sales of Cannabis will require the company to obtain production and / or export licensing which cannot be assured. There is no assurance the company will successfully expand its lineup of nutraceutical products or move into medical prescription products. Successful completion of these objectives will require additional financing, successful marketing initiatives, and certifications which are subject to uncertainty. In addition, prescription drug products require clinical trials which may be lengthy and expensive and have uncertain results. There is no assurance that the company will be approved for commercial Cannabis production in Israel or elsewhere. Obtaining such approvals is subject to many risks and uncertainties, in addition to the need for financing, including potential delays, unexpected changes in requirements and unexpected failure to meet requirements.
All forward-looking statements are inherently uncertain, and actual results may be affected by a number of material factors beyond our control. Readers should not place undue reliance on forward-looking statements. BHSC does not intend to update forward-looking statement disclosures other than through our regular management discussion and analysis disclosures.
Neither the Canadian Securities Exchange nor its Regulation Services Provider accept responsibility for the adequacy or accuracy of this release.
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