Life Science News

The Company is now producing Cannabis in industrial scale bioreactors and has entered the final stage of its Cannabis commercialization program

BioHarvest Sciences Inc. (CSE: BHSC) ("BioHarvest" or the "Company") has announced its plan to build a production facility in Canada, as part of the next phase in the global expansion of its Cannabis vertical. To that end, the Company is exploring opportunities to acquire an existing licensed facility or a Licensed Producer (LP), which would enable the Company to use its BioFarming technology to produce and then sell unique cannabis products into the Canadian market.

The Company is pleased to announce that it has also moved its production of full-spectrum Cannabis biomass to industrial scale bioreactors, which is a critical final step in ensuring adequate production levels for commercialization. This full spectrum, pesticide free, non-genetically modified biomass is based on the Company's proprietary BioFarming technology that produces Cannabis without growing the plant itself.

Following the news release on December 8, 2021, where the Company announced that it was the first to produce a significant amount of full spectrum, non GMO Cannabis biomass without growing the Cannabis plant itself, the Company has moved swiftly towards the final stage of the development program by now growing the Trichome cells in industrial scale bioreactors. The Trichome cells contain Cannabinoids such as CBD, THC, as well as other compounds that grow naturally in the Cannabis plant. This stage successfully tested the resilience of BioHarvest's proprietary "amalgamated Trichome cells" against the shear forces generated by the large bioreactor's liquid media motion. These amalgamated Trichomes have a coral shaped structure and have a density of up to 200 times greater than the conventional agriculture case. To view the first video footage of our Cannabis biomass, visit www.bioharvest.com/investors.

Ilan Sobel, CEO of BioHarvest, said, "Our BioFarming technology not only enables the production of full-spectrum Cannabis without growing the plant but also creates unique new patentable and consistent compositions that will have corresponding human utility value. I am excited about the opportunity to bring such unique Cannabis solutions to the Canadian market by building a local production facility in Canada. To that end, we have started the engagement for finding an adequate facility and/or acquiring an existing LP who has the appropriate licenses."

BioHarvest is asking those LP's who are interested in a collaborative agreement regarding this announcement to send requests to partnership@bioharvest.com.

All interested media and investors are invited to attend an 'Introduction to BioHarvest' webinar on January 26, at 11 am PST. The event will include a live Question and Answer session. Please register here: https://app.livestorm.co/st-financial/introduction-to-bioharvest?type=detailed

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.

BioHarvest Sciences Inc.
Ilan Sobel, Chief Executive Officer

For further information, please contact:
Dave Ryan, VP Investor Relations & Director
Phone: 1 (604) 622-1186
Email: dave@bioharvest.com

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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 we will achieve our objective of making our products available in multiple markets including bio-space and exposing our technology to different verticals. 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 that the Company will be successful in acquiring a licensed facility in Canada. Health Canada approvals are required for transfers of production licenses which may take considerable time and cannot be assured. There is also no assurance that Health Canada will accept the Company's unique bioreactor production method. Production requirements in Canada are strict and require adherence to many requirements regarding safety, security and production methods and standards. Although the company is confident that its production methods will meet or exceed all standards there can be no assurance that Heath Canada will accept the Company data within a reasonable time or at all.

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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/110952

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BHSC:CNX
BioHarvest Sciences

BioHarvest Sciences


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BioHarvest Sciences Unveils Profile of Unique Cannabis Composition

BioHarvest Sciences Unveils Profile of Unique Cannabis Composition

  • Full spectrum profile to include major and minor Cannabinoids as well as Terpenes
  • Unique trichome structure provides for potentially higher solubility and bio-availability 
  • With Trichomes representing 93% of the Cannabis biomass produced using the proprietary Bio-Plant CELLicitation™ technology, taste bitterness is significantly reduced

BioHarvest Sciences Inc. the (CSE: BHSC) ("BioHarvest" or the "company") today unveiled the composition profile of its full-spectrum Cannabis produced in large-scale industrial bioreactors based on its proprietary Bio-Plant CELLicitation™ platform technology.

On December 8th, 2021, BHSC became the first company ever to announce that it could produce Cannabis biomass without growing the plant itself. The revealing of the unique composition profile of its first product comes as BioHarvest gears up for potential Cannabis commercialization - optimizing the manufacturing process, perfecting measurement techniques, transitioning the 2-ton/year facility to Cannabis and applying for the necessary regulatory approvals.

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BioHarvest Sciences Inc. Announces a Private Placement of up to USD $5 Million of Convertible Notes to Finance Production Facilities and Scaling of Core Business

BioHarvest Sciences Inc. Announces a Private Placement of up to USD $5 Million of Convertible Notes to Finance Production Facilities and Scaling of Core Business

BioHarvest Sciences Inc. (CSE: BHSC) (OTC:CNVCF) (FSE: 8MV) ("BioHarvest" or the "Company") announced today a financing plan based on a private placement of up to USD $5 Million (approximately $6.3 Million CAD). The funds raised will allow the Company to accelerate the growth plan for its polyphenolsantioxidants and Cannabis verticals.

On March 23, 2021, BHSC announced the completion of the Company's Cannabis R&D program, marking the start of the proposed transition to commercial scale manufacturing. BioHarvest plans to bring its first Cannabis products to market in 2022 and will be converting the current VINIA® 2 tons/year facility in Rehovot, Israel to produce Cannabis. This is happening in conjunction with the transition of all VINIA ® manufacturing to the new 20 tons/year facility in Yavneh, Israel, which will provide the required VINIA ® production capacity to scale VINIA® sales in the US. The transition to Cannabis manufacturing in Israel, combined with the planned incremental marketing spend for VINIA® in the USA, requires additional financing which the Company will seek to raise by issuing up to $5 Million USD of Convertible Notes (the "Notes").

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Bioharvest Sciences Inc. Reports Strong Q1 2022 Results on All of the Company's Activities

Bioharvest Sciences Inc. Reports Strong Q1 2022 Results on All of the Company's Activities

  • VINIA® sales orders grew 112% compared to Q1 2021 to reach USD 787k
  • Reiterating guidance for year-on-year sales orders growth of 2.5-3.5X to reach USD 5M - 7M
  • Started the transition of VINIA® production at new 20 tons/year facility enabling the scaling of VINIA® sales and conversion of current 2 tons/year facility to Cannabis
  • Produced a unique Cannabis composition in large industrial scale Bioreactors enabling the commercialization and sales of Cannabis products in H2 2022

BioHarvest Sciences Inc. (CSE: BHSC) (OTC PINK: CNVCF) (FSE:8MV) ("BioHarvest" or "the Company") today announced Q1 2022 sales of its flagship VINIA® product reached USD 787k, representing 112% growth compared to the same quarter of last year.

BioHarvest also had a strong quarter in R&D execution, highlighted by a March 23 declaration of successful completion of its Cannabis R&D program with production of Cannabis biomass in large-scale industrial bioreactors - signaling the start of commercialization of the Cannabis product. BioHarvest is in the process of transitioning the current R&D license to a production license ahead of launching a unique Cannabis composition into the market in H2 2022.

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Bioharvest Sciences Inc. Successfully Completes Cannabis R&D Program

Bioharvest Sciences Inc. Successfully Completes Cannabis R&D Program

  • Now producing Cannabis biomass in large scale industrial bioreactors under the current R&D license.
  • Commencing the process of transitioning the current Israeli Cannabis R&D license to a production license.

BioHarvest Sciences Inc. (CSE: BHSC) ("BioHarvest" or the "Company") today announced that it has produced Cannabis Biomass in large scale industrial bioreactors, which represents the completion of the Company's Cannabis R&D program.

On December 8th, 2021, BHSC became the first company ever to announce that it could produce Cannabis biomass without growing the plant itself. Building on that breakthrough, the Company has made significant progress, and has now produced Cannabis in large scale industrial bioreactors, marking the start of the transition to commercial scale manufacturing. To that end, the Company has commenced the process to obtain a production license in Israel for its Cannabis products to complement the R&D license it has used to date for the Cannabis development program.

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BioHarvest Sciences Inc. Quarterly Shareholder Update Live Event April 7, 2022, at 2:00 PM E.T.

BioHarvest Sciences Inc. Quarterly Shareholder Update Live Event April 7, 2022, at 2:00 PM E.T.

BioHarvest Sciences Inc. (CSE: BHSC) ("BioHarvest" or "the Company") invites its shareholders and the general public to join a Live Video Conference ("Webinar") on Thursday, April 7, 2022, at 2:00 PM Eastern Standard Time (11:00 AM Pacific Standard Time).

BioHarvest Sciences CEO Ilan Sobel will host the event, which will include an unveiling of the 2022 Growth Priorities, including a detailed performance update on the commercialization of the Company's two primary product verticals, Polyphenol Antioxidants and Cannabis/Hemp.

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LAWSUITS FILED AGAINST ABBV, NTRA and MULN - Jakubowitz Law Pursues Shareholders Claims

Jakubowitz Law announces that securities fraud class action lawsuits have commenced on behalf of shareholders of the following publicly-traded companies who purchased shares within the class periods listed below. Shareholders interested in representing the class of wronged shareholders have until the lead plaintiff deadline to petition the court. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff. For more details and to speak with our firm without cost or obligation, follow the links below

ABBVie Inc. (NYSE:ABBV)

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Kessler Topaz, Meltzer & Check, LLP Encourages AbbVie, Inc. Investors with Substantial Losses to Contact the Firm

The law firm of Kessler Topaz Meltzer & Check, LLP(www.ktmc.com) informs investors that the firm has filed a securities class action lawsuit against ABBVie, Inc. (ABBVie) (NYSE:ABBV) on behalf of all persons and entities who purchased or otherwise acquired ABBVie securities between April 30, 2021, and August 31, 2021, inclusive (the "Class Period

CLICK HERE TO SUBMIT YOUR ABBVIE LOSSES. YOU CAN ALSO CLICK ON THE FOLLOWING LINK OR COPY AND PASTE IN YOUR BROWSER: https://www.ktmc.com/new-cases/abbvie-inc?utm_source=PR&utm_medium=link&utm_campaign=abbvie&mktm=r

CANNOT VIEW THIS VIDEO? PLEASE CLICK HERE

TO VIEW OUR COMPLAINT, PLEASE CLICK HERE

LEAD PLAINTIFF DEADLINE: JUNE 6, 2022

CLASS PERIOD: APRIL 30, 2021 through AUGUST 31, 2021

CONTACT AN ATTORNEY TO DISCUSS YOUR RIGHTS: James Maro, Esq. (484) 270-1453 or Email at info@ktmc.com

Kessler Topaz is one of the world's foremost advocates in protecting the public against corporate fraud and other wrongdoing. Our securities fraud litigators are regularly recognized as leaders in the field individually and our firm is both feared and respected among the defense bar and the insurance bar. We are proud to have recovered billions of dollars for our clients and the classes of shareholders we represent.

ABBVIE'S ALLEGED MISCONDUCT

AbbVie is one of the world's largest pharmaceutical companies. The company's revenues will come under significant pressure in the coming years when its best-selling drug, Humira, will lose patent protection in 2023. Accordingly, AbbVie's future revenue and earnings depend in large part on its ability to develop new sources of revenue to offset Humira's lost sales. Rinvoq-an anti-inflammatory drug manufactured by AbbVie and used to treat rheumatoid arthritis (RA) and other diseases by inhibiting Janus kinase (JAK) enzymes-was touted as one such drug. Rinvoq was initially approved in the United States to treat only moderate to severe RA. However, AbbVie was actively pursuing additional treatment indications and, in 2020, asked the U.S. Food and Drug Administration (FDA) to approve Rinvoq for the treatment of several other diseases.

As is relevant here, Rinvoq is similar to other JAK inhibitor drugs, including Xeljanz, manufactured by Pfizer Inc. When the FDA approved Xeljanz in 2012 for the treatment of RA, it required an additional safety trial to evaluate Xeljanz's risk of triggering certain serious side effects. Beginning in February 2019, the FDA repeatedly warned the public that the safety trial indicated that Xeljanz's use could lead to serious heart-related issue, cancer, and other adverse events. Notwithstanding the similarities between Rinvoq and Xeljanz, during the Class Period, Defendants assured investors that Rinvoq was far safer than Xeljanz and not subject to the same regulatory risks.

However, investors began to learn the truth about Rinvoq's significant risks on June 25, 2021, when AbbVie revealed that the FDA was delaying its review of expanded treatment applications for Rinvoq due to the safety concerns associated with Xeljanz. On this news, the price of AbbVie common stock declined $1.76 per share, or approximately 1.5%, from a close of $114.74 per share on June 24, 2021, to close at $112.98 per share on June 25, 2021.

Then, on September 1, 2021, the FDA announced that final results from the Xeljanz safety trial established an increased risk of serious adverse events, even with low doses of Xeljanz. As a result, the FDA determined that it would require new and updated warnings for Xeljanz and Rinvoq because Rinvoq "share[s] similar mechanisms of action with Xeljanz" and "may have similar risks as seen in the Xeljanz safety trial." The FDA also indicated that it would further limit approved indications for Rinvoq as a result of these safety concerns. On this news, the price of AbbVie common stock declined $8.51 per share, or more than 7%, from a close of $120.78 per share on August 31, 2021, to close at $112.27 per share on September 1, 2021.

After the Class Period, on December 3, 2021, AbbVie announced that the FDA had updated Rinvoq's label to require additional safety warnings and limit marketing of Rinvoq to only its use after treatment with other drugs has failed. On January 11, 2022, Defendants admitted that these changes to Rinvoq's label would negatively impact sales, forcing the Company to reduce its long-term guidance for Rinvoq's sales in 2025.

The complaint alleges that, throughout the Class Period, the Defendants made materially false and/or misleading statements, about the company's business and operations. Specifically, Defendants misrepresented and/or failed to disclose that: (1) safety concerns about Xeljanz extended to Rinvoq and other JAK inhibitors; (2) as a result, it was likely that the FDA would require additional safety warnings for Rinvoq and would delay the approval of additional treatment indications for Rinvoq; and (3) therefore, Defendants' statements about the company's business, operations, and prospects lacked a reasonable basis, As a result of the Defendants' wrongful acts and omissions, and the significant decline in the market value of AbbVie's securities, AbbVie investors have suffered significant damages.

WHAT CAN I DO?

AbbVieinvestors may, no later than June 6, 2022, seek to be appointed as a lead plaintiff representative of the class through Kessler Topaz Meltzer & Check, LLP or other counsel, or may choose to do nothing and remain an absent class member. Kessler Topaz Meltzer & Check, LLP encourages AbbVie investors who have suffered significant losses to contact the firm directly to acquire more information.

CLICK HERE TO SIGN UP FOR THE CASE

WHO CAN BE A LEAD PLAINTIFF?

A lead plaintiff is a representative party who acts on behalf of all class members in directing the litigation. The lead plaintiff is usually the investor or small group of investors who have the largest financial interest and who are also adequate and typical of the proposed class of investors. The lead plaintiff selects counsel to represent the lead plaintiff and the class and these attorneys, if approved by the court, are lead or class counsel. Your ability to share in any recovery is not affected by the decision of whether or not to serve as a lead plaintiff.

ABOUT KESSLER TOPAZ MELTZER & CHECK, LLP

Kessler Topaz Meltzer & Check, LLP prosecutes class actions in state and federal courts throughout the country and around the world. The firm has developed a global reputation for excellence and has recovered billions of dollars for victims of fraud and other corporate misconduct. All of our work is driven by a common goal: to protect investors, consumers, employees and others from fraud, abuse, misconduct and negligence by businesses and fiduciaries. For more information about Kessler Topaz Meltzer & Check, LLP please visit www.ktmc.com.

CONTACT:
Kessler Topaz Meltzer & Check, LLP
James Maro, Jr., Esq.
280 King of Prussia Road
Radnor, PA 19087
(484) 270-1453
info@ktmc.com

SOURCE: Kessler Topaz Meltzer & Check, LLP



View source version on accesswire.com:
https://www.accesswire.com/701792/Kessler-Topaz-Meltzer-Check-LLP-Encourages-AbbVie-Inc-Investors-with-Substantial-Losses-to-Contact-the-Firm

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ABBVie Inc. (NYSE:ABBV)

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Aurinia Pharmaceuticals Inc. (NASDAQ:AUPH)
Class Period: May 7, 2021 - February 25, 2022
Lead Plaintiff Deadline: June 14, 2022

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AbbVie Inc. (NYSE:ABBV)

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SO WHAT: If you purchased AbbVie securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

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