Life Science News

  • VINIA® sales orders reached a record high of USD 947k representing 99% growth compared to Q2 2021 and 24% growth compared to Q1 2022
  • BioHarvest reiterates guidance for year-on-year sales orders growth of 2.5-3.5X to reach USD 5M - 7M
  • Started production of VINIA® at new 20 tons/year facility enabling the scaling of VINIA® sales and conversion of current 2 tons/year facility to Cannabis
  • Applied for the Cannabis production license in Israel
  • Unveiled the profile of its unique Cannabis composition triggering serious partnership discussions with several Cannabis Multi State Operators (MSO's) in the US

BioHarvest Sciences Inc. (CSE: BHSC) (OTC PINK: CNVCF) (FSE: 8MV) ("BioHarvest" or "the Company") today announced Q2 2022 sales orders of its flagship VINIA® product reached a record high of USD 947k, representing 99% growth compared to the same quarter of last year and 24% growth compared to Q1 2022.

BioHarvest also had a strong quarter in R&D execution, highlighted by a May 12th announcement unveiling the profile of its unique Cannabis biomass composition produced in large-scale industrial bioreactors. BioHarvest also applied for a Cannabis production license in Israel. This quarter also saw the transition to the new 20Tons/year VINIA® facility in Yavneh, Israel which will enable the further scaling of the VINIA® business in the US in H2, 2022 and will deliver significant cost reductions over the next 12 months.

"Our strong Q2 results demonstrate our consistent growth and represent a validation of our major assumptions and performance so far," said CEO Ilan Sobel. "BioHarvest's strategy of growth remains well intact and its performance on all fronts validates its leadership in plant-based bio-technology."

Q2 sales orders in the US reached USD 376k (representing 460% growth over Q2 2021 and 21% growth over Q1 2022). The US sales metrics were extremely healthy and demonstrate steady improvement. For example, customer Average Revenue per Unit for the last 6 months was USD 229 compared to over the last 12 months at USD 198. The percentage of 3 month or greater subscriptions increased from 56% of the subscription mix in Q1, 2021 to 76% for Q2, 2022. In addition, VINIA® continues to achieve a best-in class verified customer rating of 4.8 out of 5 with over 700 verified reviews, demonstrating a high level of customer satisfaction. These strong results were delivered through the 2nd quarter as the Company continued to manage US VINIA® sales orders in line with production capacity constraints, which will be further alleviated early in the 2nd half of 2022 with the increased manufacturing scale of the new 20 ton/year facility, enabling increased inventory to flow through to the US market.

The Israeli market continued to demonstrate increased consumer adoption of VINIA® and delivered USD 571k (39% growth over Q1 2021 and 26% growth from Q1 2022). Total Customers in Israel grew at a record 51% in Q2 2022 over Q1 2022. It is also noteworthy that June saw the highest ever "average spend per order" of USD 203.

The second half of the 2022 marketing plan includes the addition of influencer endorsements, customer referral programs and affiliate programs as well as a focused approach addressing key lucrative market segments such as the Christian evangelical market. Given the above marketing activity, B2B pipeline opportunities and the release of the VINIA® manufacturing bottle neck, the Company is reiterating its 2022 sales orders guidance of USD 5M-7M representing a 2.5-3.5X growth over 2021.

"I look back with satisfaction at our achievements in H1 2022 and look forward with enthusiasm to H2 2022. The accomplishments of H1 2022 give me the confidence in delivering strong results in H2 2022 and to continue to fuel our growth engines, as I have articulated consistently several times to the market and to our investors." Sobel said. "I am equally satisfied and enthusiastic for how the unique, highly differentiated composition of our Cannabis is opening the doors for the partnership discussions with Multi State Operators in the US."

Q2 2022 Shareholder Update

BioHarvest invites all interested investors and media to the Q2 BioHarvest Shareholder Update at 2PM EST July 7th, 2022. The online meeting will be hosted by CEO Ilan Sobel and will feature a live Q&A session. Free registration to the event is available here:

https://app.livestorm.co/st-financial/q2-2022-bioharvest-sciences-shareholder-update?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

Facebook
Twitter
LinkedIn
YouTube

Forward-Looking Statements

Information set forth in this news release includes 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 strong sales metrics experienced to date will result in future demand or that proposed additional marketing expenditures will result in increased sales. Markets for nutraceuticals are unpredictable and subject to changes in consumer tastes and trends as well as economic factors beyond our control. Delays and cost overruns may result in delays achieving our objectives obtaining market acceptance, and regulatory approvals for geographic expansion are subject to risk and cannot be guaranteed. There is no assurance that the Company sales revenue for 2022 will reach USD 5 to 7 million and there is no assurance that the Company cash flow breaking point will be achieved in 2023. There is no assurance of commercial availability of our Cannabis product in 2022 or that the Company achieves the conversion of the two tons VINIA® facility to Cannabis production in 2022. These things are subject to construction and approval delays and uncertainties that may be beyond the control of BioHarvest. Projected sales of Cannabis will require the Company to obtain production and/or export licensing which cannot be assured.

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/129989

News Provided by Newsfile via QuoteMedia

BHSC:CNX
CSE:BHSC

BioHarvest Sciences


Keep reading...Show less
BioHarvest Sciences Inc. Commences Trading on the OTCQB Market

BioHarvest Sciences Inc. Commences Trading on the OTCQB Market

BioHarvest Sciences Inc. (CSE: BHSC) (OTCQB: CNVCF) (FSE: 8MV) ("BioHarvest" or "the Company") ") is pleased to announce that its common shares are now trading on the OTCQB® Venture Market under the ticker symbol "CNVCF".

"Admission to the OTCQB® market is an important step to increase US investor access to BioHarvest Sciences, and it provides US investors an additional level of transparency as we expand both our investor base and our customer base in North America." Stated CEO Ilan Sobel. "We will continue to work on expanding our global visibility to investors to match the commercial entry of our products into new markets."

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
BioHarvest Sciences Inc. Receives the Largest Ever VINIA Purchase Order from BATORY Foods

BioHarvest Sciences Inc. Receives the Largest Ever VINIA Purchase Order from BATORY Foods

  • Purchase order of 1,000 kg for prompt delivery to support the growing demand for VINIA®
  • Pipeline of 6 major customers testing VINIA® for inclusion in their final products
  • Favorable terms of Purchase Order reflect the increasing value of the product and substantially contribute to BioHarvest's top line

BioHarvest Sciences Inc. (CSE: BHSC) (OTC PINK: CNVCF) (FSE: 8MV) ("BioHarvest" or "the Company") today announced that Batory Foods (Batory) has placed a purchase order for 1,000 kg of VINIA®, to be delivered by end of December 2022. Batory Foods ("Batory"), a leading food ingredients distributor in the USA, is one of the top three companies in the nutraceutical and food and beverage ingredient segments of the market. Batory is the exclusive B2B distributor of BioHarvest's Nutraceuticals and expected Hemp based Cannabis products in the US.

In addition to the significant size of this purchase order, it also carries more favorable financial terms for BioHarvest in reflection of the higher B2B wholesale price of VINIA® in the market and reflects the willingness of end customers to pay higher pricing for VINIA® when utilizing VINIA® as a key ingredient in their respective products. The adoption of VINIA® by the US market is evidenced by the sales growth and projections described in the Company's July 5th, 2022, news release.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
BioHarvest Sciences Inc. Announces Appointment of Gavriel Lambert to the Board of Advisors

BioHarvest Sciences Inc. Announces Appointment of Gavriel Lambert to the Board of Advisors

  • Gavriel Lambert's 27 years of investment banking experience, covering the consumer and retail sectors and working on numerous capital markets transactions including IPOs, financings and M&A, will significantly enhance the Board of Advisors.
  • His appointment continues to demonstrate the Company's resolve to partner with top life science and Cannabis companies.

BioHarvest Sciences Inc. (CSE: BHSC) ("BioHarvest" or the "Company") today announced that effective immediately, Gavriel Lambert will be serving on its Board of Advisors. Gavriel brings 27 years of experience in global investment banking and will complement BioHarvest's highly competent Board of Advisors.

Ilan Sobel, CEO of BioHarvest, said: "Gavriel's extensive experience in banking comes at an important junction of the company's evolution as it seeks new partnerships with several US and international entities that would accelerate the market reach of BHSC's products and technology. Not only will he help introduce us to the right strategic partners but he will also assist us in the process of achieving the best possible agreements. Furthermore, his capital markets experience will offer us valuable advice as a public company."

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
BioHarvest Sciences Inc. Announces Live Quarterly Shareholder Update Event July 7, 2022, at 2:00 PM ET

BioHarvest Sciences Inc. Announces Live Quarterly Shareholder Update Event July 7, 2022, at 2:00 PM ET

 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, July 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 coverage of Q2 sales results and a detailed progress update on the 2022 Growth Priorities, with specific focus on the VINIA scale-up progress in the USA and on the Company's Cannabis market entry strategy into North America.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
BioHarvest Sciences Hires Dr. Brian S. Cornblatt as Chief Medical Officer

BioHarvest Sciences Hires Dr. Brian S. Cornblatt as Chief Medical Officer

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.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
dynaCERT Announces Auditor Resignation

dynaCERT Announces Auditor Resignation

dynaCERT Inc. (TSX: DYA) (OTCQX: DYFSF) (FRA: DMJ) (" dynaCERT " or the "Company") announces the resignation of its auditors, BDO Canada LLP ("BDO"). BDO resigned on their own initiative, which resignation has been reviewed by dynaCERT 's audit committee. BDO has advised that its resignation is a business decision of such firm and has confirmed that there are no reportable events, "disagreements" or "unresolved issues" (as those terms are defined in National Instrument 51-102 Continuous Disclosure Obligations ) in connection with the change of auditor. dynaCERT is commencing the process to engage a replacement auditor for the 2022 fiscal year.

About dynaCERT Inc.
dyna CERT Inc. manufactures and distributes Carbon Emission Reduction Technology for use with internal combustion engines. As part of the growing global hydrogen economy, our patented technology creates hydrogen and oxygen on-demand through a unique electrolysis system and supplies these gases through the air intake to enhance combustion, resulting in lower carbon emissions and greater fuel efficiency. Our technology is designed for use with many types and sizes of diesel engines used in on-road vehicles, refrigerated trailers, off-road construction, power generation, mining and forestry equipment, marine vessels and railroad locomotives. Website: www.dynaCERT.com .

News Provided by Business Wire via QuoteMedia

Keep reading...Show less
Nano One Provides Quarterly Progress Update and Reports Q2 2022 Results

Nano One Provides Quarterly Progress Update and Reports Q2 2022 Results

TSX:NANO) (OTC PINK:NNOMF) (Frankfurt:LBMB

nano one® Materials Corp. ("nano one" or the "Company") is a clean technology company with patented processes for the low-cost, low-environmental footprint production of high-performance cathode materials used in lithium-ion batteries. nano one has filed its unaudited condensed interim consolidated financial statements (the "financial statements") and management's discussion & analysis for the second fiscal quarter ended June 30, 2022 and is pleased to provide the following highlights from Q2 2022.

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less
BriaCell Secures License for a Promising Novel Anti-Cancer Agent

BriaCell Secures License for a Promising Novel Anti-Cancer Agent

BriaCell Therapeutics Corp. (Nasdaq: BCTX, BCTXW) (TSX: BCT) ("BriaCell" or the "Company") a clinical-stage biotechnology company specializing in targeted immunotherapies for cancer, announces that it has secured an exclusive license from University of Maryland, Baltimore County (UMBC) to develop and commercialize Soluble CD80 (sCD80) as a biologic agent for the treatment of cancer.

The novel technology, originally developed by Suzanne Ostrand-Rosenberg, Ph.D., Emeritus Faculty at UMBC, and member of BriaCell's scientific advisory board, is titled "Soluble CD80 as a Therapeutic to Reverse Immune Suppression in Cancer Patients" and covered under USPN 8,956,619 B2 , USPN 9,650,429 B2 , and USPN 10,377,810 B2 . In animal models, sCD80 was well-tolerated and stopped tumor growth by potentially restoring natural anti-tumor immunity (see Lucas A Horn, et al . and Samuel T Haile et al. in collaboration with Dr. Ostrand-Rosenberg). Additionally, strong anti-tumor activity of sCD80 has been reported in multiple tumor types (see Lucas A Horn, et al .). Importantly, as demonstrated in the same studies, sCD80's unique actions may involve both awakening and boosting the immune system to recognize and destroy tumor cells.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
DGTL Holdings Inc. Reports Four New PaaS Contracts from Leading CPG Brands

DGTL Holdings Inc. Reports Four New PaaS Contracts from Leading CPG Brands

Four Brands from Two Global CPG Conglomerates Leverage Patented Data and Analytics PaaS for Analysis of Digital Advertising Sponsorships During Top Broadcasted Sporting Event in North America

DGTL Holdings Inc. (TSXV: DGTL) ("DGTL" or the "Company") is pleased to announce that its wholly owned subsidiary Engagement Labs has secured four new PaaS (Platform-as-a-Service) contracts from two global consumer packaged goods (CPG) conglomerates.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Nano One Announces Results of Annual General Meeting

Nano One Announces Results of Annual General Meeting

nano one ® Materials Corp. (TSX:NANO)(OTC PINK:NNOMF)(Frankfurt:LBMB) (the "Company"), a clean technology company with patented processes for the low-cost, low-environmental footprint production of high-performance cathode materials used in lithium-ion batteries, is pleased to announce the results of the annual general meeting of shareholders adjourned July 26, 2022, and reconvened today in Vancouver, British Columbia (the " Meeting

A total of 24,138,258 common shares were represented at the Meeting, representing 25.25% of the total issued and outstanding common shares of the Company.

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less
Naturally Splendid Announces Proposed Consolidation and Special Meeting

Naturally Splendid Announces Proposed Consolidation and Special Meeting

Naturally Splendid Enterprises Ltd. ("Naturally Splendid" or "NSE" or the "Company") (FRANKFURT:50N) (TSXV:NSP) (OTC PINK:NSPDF) announces that it intends to consolidate its issued and outstanding common shares at a ratio of up to fifteen (15) pre-consolidation shares to one (1) post-consolidation share (the "Consolidation"). The purpose of the Consolidation is to facilitate the Company's ability to attract future financings, generate greater investor interest, and improve trading liquidity

The Company currently has 330,624,458 common shares issued and outstanding. In the event the Company proceeds with the Consolidation, as opposed to a lesser ratio, the Company anticipates there would be 22,041,631 common shares issued and outstanding.

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less

Latest Press Releases

Related News

×