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Hadfield's expertise will lead BioHarvest's expanded focus to include space biology BioHarvest Sciences Inc. has appointed renowned astronaut Chris Hadfield to its board of advisors as part of a drive to leverage its biotech technology platform to provide essential nutrition and active ingredients for space exploration and potential new settlements in space. Hadfield brings 40 years of scientific experience to the ...

Hadfield's expertise will lead BioHarvest's expanded focus to include space biology

BioHarvest Sciences Inc. ("BioHarvest" or the "Company") (CSE: BHSC) has appointed renowned astronaut Chris Hadfield to its board of advisors as part of a drive to leverage its biotech technology platform to provide essential nutrition and active ingredients for space exploration and potential new settlements in space.

Hadfield brings 40 years of scientific experience to the Canadian-Israeli biotech firm, which has developed and patented a plant bio-cell technology, called BioFarming, capable of growing the active and beneficial plant based ingredients at industrial scale, without the need to grow the plant itself.

" Chris's unparalleled experience will help marry our plant cellular biology expertise with space science, " said BioHarvest CEO Ilan Sobel . " He is a great addition to our advisory board at this phase of our growth, and he'll help us in our drive to be a global biotech leader. "

BioHarvest's BioFarming technology has the potential to efficiently produce primary metabolites such as premium proteins that are needed to provide required nutrition for humans to live in space. It can also produce antioxidant compounds with antioxidant activity that can help reduce human cellular stress and prevent damage caused by microgravity and ionizing radiation, which is a critical health challenge experienced by astronauts while in space.

Hadfield joined the BioHarvest board of advisors a few weeks after visiting the Company's research and development laboratories in Rehovot, Israel .

" BioHarvest's proprietary platform technology has the potential to make a significant impact on the world as well as in bio-space science, " Hadfield said. " The company has built a world-class team of scientists, and I look forward to working with them, with my fellow advisors, to scale BioHarvest's solution. "

The Canadian-born reserve colonel is an astronaut, engineer, and RCAF pilot who has flown 3 space missions, done 2 spacewalks, and commanded the International Space Station. He was named the top test pilot in both the US Air Force and the US Navy, and served as NASA's Director of Operations in Russia .

Hadfield is an adjunct professor at the University of Waterloo , an adviser to SpaceX and Virgin Galactic, and chair of the board of the Open Lunar Foundation. He also leads the Space stream at the Creative Destruction Lab tech incubator, and is co-creator and host of TV series on BBC and National Geographic, as well as a 4-time internationally best-selling author.

BioHarvest, which can produce red grape, olive, and pomegranate cells, recently announced that it has successfully grown coral-shaped clusters of Cannabis trichomes  in bioreactors as well (see news release dated August 19 and September 1 , 2021). The company recently announced revenues of USD 688K in the third quarter of 2021, representing 44% growth over the previous quarter, based on promising early demand of its flagship red grape-based VINIA ® product (see news release dated October 5 , 2021).

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. In particular, there is no assurance that the Company will be able to leverage its technology platform to successfully provide essential nutrition and active ingredients for space exploration. 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. 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 the BioFarming technology will make a significant impact on multiple verticals of life -science based businesses in general or in the bio-space industry. 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.

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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SOURCE BioHarvest Sciences Inc.

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/December2021/01/c7178.html

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BioHarvest Sciences

BioHarvest Sciences


Overview

BioHarvest Sciences (CSE:BHSC), a biotechnology innovator, is targeting the international market demand for natural products that provide consumers with functional health and wellness. This includes consumer products ranging from foods enriched with active ingredients like antioxidants to cleaner and more consistent cannabis products. BioHarvest Sciences has developed biofarming, a proprietary breakthrough patented technology, capable of naturally-producing the active ingredients of a plant without having to grow the plant itself. The company has already proven the technology in the rapidly growing nutraceuticals market focusing on dietary supplements and the functional food and beverage ingredients market. Products such as BioHavest Sciences’ VINIA®, which is based on red grapes, has clinically- proven functional benefits, has already positively impacted the lives of thousands of Israelis and is approved for sale in the US.

The global cannabis market is expected to reach US$66.3 billion by the end of 2025, according to a report by Grand View Research. A large portion of the growth has been driven by the adoption of cannabis in the pharmaceutical industry as new products have been developed to treat severe medical conditions such as cancer, Parkinsons, Alzheimers and arthritis. However, issues with consistent cannabis supply can affect the long-term growth of the industry as more countries initiate cannabis programs and legislative reforms, posing potential difficulties for licensed producers to provide enough high-quality products to meet the demand.

BioHarvest Sciences Inc. believes that its biofarming technology is the solution to the cannabis supply and consistency problem. The technology isolates the active ingredient cells from the cannabis plant before multiplying (growing) them in the biofarming process. The technology can do this without using any solvent extraction, genetic modification or synthetic molecular processing techniques. To facilitate its biofarming operation, BioHarvest Sciences Inc. has built a production facility that can produce approximately one ton of active cannabis ingredient powder (equivalent to the cannabis plant dried bud) per year in a 100-square-meter space. The company intends to increase its production to 10 tons per year by 2022.

As of September 2019, the company produced its first cannabis cells in suspension with a cannabinoid profile that was identical to the original cannabis plant without growing the plant. Following a B2B business model, BioHarvest Sciences Inc. intends to sell its active ingredients as a powder for repackaging and formulation to its clients. In addition, the company may License the technology in order to accelerate the industry adoption curve.

bioharvest-vinia-30-pack

BioHarvest Sciences has already demonstrated the feasibility and viability of the biofarming technology through its commercially available product called VINIA®. VINIA® is based on many studies which have demonstrated that moderate consumption of red wine every day is able to have a positive impact on one’s overall heart health as a result of wine’s rich polyphenol content, specifically resveratrol. One 400mg capsule of VINIA® contains the same amount of resveratrol contained in one full bottle of Red Wine without the sugar, calories or alcohol found in red wine. Consumers can currently purchase the powder through the VINIA website in a 400-milligram daily dose.

Company Highlights

  • Over $30 million has been invested in developing BioHarvest Sciences’ biofarming technology
  • BioHarvest’s bio-superfood product VINIA® is designed to support heart health and improve blood circulation by leveraging compounds commonly found in red wine
  • Biofarming technology has the potential to ease bottlenecks in the cannabis industry
  • BioHarvest has already produced six unique cannabinoids in suspension: THC, CBD, THCA, CBDA, CBN and CNC
  • BioHarvest Sciences intends to utilize a B2B business model, supplying its active ingredient products as a powder for repackaging by its clients.
  • The current production capacity of the company’s facility is two tons per year, which the company aims to increase to ten tons per year.
  • Has successfully created cannabis trichomes at the suspension phase
  • BioHarvest Sciences’ seasoned management team has a track record of success

Management Team

Zaki Rakib – President and Chairman of the Board

Dr. Rakib is a serial entrepreneur and seasoned executive. He brings extensive experience in multiple industries. Prior to BioHarvest Sciences, Dr. Rakib co-founded Terayon Communication Systems, led the company from inception as its CEO, and managed its growth from $2M to $380M in revenue. Terayon reached a $7B market capitalization in 2000 and was later on acquired by Motorola. Prior to that, Mr. Rakib was a director of engineering at Cadence design systems which acquired Helios S/W where he served as CTO. Dr. Rakib holds a Ph.D. in Mechanical Engineering and a Ph.D. in Applied Mathematics.

Ilan Sobel – CEO

Ilan, brings extensive experience in General Management, International Sales & Marketing, Manufacturing & Operations and leadership expertise in building large-scale businesses and billion- dollar brands. For the past 6 years, Ilan served as COO and transitioned to Chief Commercial Officer of Weissbeerger where he played a major leadership role in building a disruptive BIG Data, IOT & Software Company servicing major Beverage players which was recently purchased by ABInBev. Previously, Ilan served an 18-year stint as an International Employee of The Coca-Cola Company, where he played a pivotal role in key senior leadership positions generating significant revenue and profit growth and improving brand health trends across diverse global markets including the United States, China, South East and West Asia and South Africa.

Dr. Yochi Hagay – Co-Founder & CTO

With a Ph.D in Biotechnology and 20+ years of relevant experience, leading substantial research and development programs in both pharma and biotech, Dr. Hagay has lead the development and implementation of BioHarvest’s technology platform since inception. She previously worked in various leadership positions at BTG corporation which was acquired by FERRING Pharmaceuticals. Dr. Hagay specializes in genetic engineering, molecular biology, tissue culture, monoclonal antibodies and clinical trials. She is the author and co-author of several peer-reviewed – published in scientific papers.

David Ryan – Vice President of Investor Relations

David Ryan has extensive experience in investment and public markets. For the past 20+ years, he has been part of in bringing multiple initial public offerings to market. He has helped raise both equity and debt financings for numerous public companies in both primary and secondary financings as well as served on the board of public companies and in various roles.

Eitan Popper – Strategic Adviser

Mr. Popper was the co-founder and President of MedReleaf Corp., which was acquired in 2018 for $2.5 billion USD. Prior to its acquisition, MedReleaf was one of the largest and most reputable vertically integrated medical Cannabis producers in the world. Mr. Popper brings over 15 years of international partnerships, entrepreneurial ventures, disruptive industry, large-scale project development, engineering and investment experience. He holds a B.Sc. in Civil Engineering, a M.Sc. in Environmental Fluid Mechanics from Stanford University, and an MBA from the Recanati School of Business.

Malkit Azachi – VP of Research & Development

Dr. Azachi brings 20 years of experience in biochemistry, genetic engineering, tissue culture, molecular biology, and clinical & pre-clinical trials. Prior to BioHarvest, He served as technology Director at HealOr Ltd, a Biopharmaceutical company developing topical therapeutics. Prior, he led product development at the research and development department of Colbar LifeScience, a Johnson & Johnson Company. Dr. Azachi holds a Ph.D in microbiology from the Hebrew University of Jerusalem and a Post-Doc in Molecular Biology of the cell from Weizmann Institute of Science.

Michal Sapir – VP of Regulatory Affairs

Michal Sapir brings 30+ years of experience in the medical device, pharma and biotechnology industries. She has previously served as Senior Director of Project Management at ColBar LifeScience Ltd., a Johnson & Johnson Company. She actively participated in FDA meetings in order to define regulatory pathways, FDA inspections and ISO Audits. She has broad experience in clinical and animal studies; and had formerly served as Affiliate Quality Coordinator & Senior Clinical Research Administrator in Eli Lilly (1995-2000). Michal Holds a Master of Science in Biochemistry.

Dr. David Brad – Advisory Board

Brady brings to the advisory board 30 years of experience as an integrative and nutritional medicine practitioner and over 25 years in health sciences academia. He is a licensed naturopathic medical physician in Connecticut and Vermont, is board certified in functional medicine and clinical nutrition, and is a fellow of the American College of Nutrition. Dr. Brady has been the Chief Medical Officer of Designs for Health, Inc. and also currently serves as the Chief Medical Officer for Diagnostic Solutions Labs, LLC. He was the long-time Vice President for health sciences and Director of the Human Nutrition Institute and continues to serve as an associate professor of clinical sciences, at the University of Bridgeport in Connecticut. He has published multiple peer-reviewed scientific papers and textbooks related to chronic pain, autoimmunity, and functional gastroenterology. Furthermore. Dr. Brady appeared on the plenary speaking panels of some of the largest and most prestigious conferences in the field including; IFM, ACAM, A4M, ACN, IHS, AANP, AIHM, and many more.

David Tsur – Advisor

Mr. Tsur is the co-founder of Kamada Ltd, a public company listed on both the NASDAQ and Tel-Aviv Stock Exchange. He served as its Chief Executive Officer and on its Board of directors since the Company’s inception in 1990. He currently serves as Deputy Chairman of the Board.

He also serves as the Chairman of Kanabo Group Plc, a company listed on the London Stock Exchange, which focuses on distributing Cannabis-derived products for medical patients and non-THC products for CBD consumers.

Steven Lehrer – Advisor

Steven currently sits on the Board of Directors of two life science companies, one not for profit, and is a member of the University of Maryland's Bioengineering Department Advisory Board. He provides strategy and implementation advice to several organizations on various topics from commercial efforts through operations, business development, product development, portfolio planning to the establishment of international operations. Previously Steve was Head of Biologicals at Cipla Ltd., CEO of Cipla BioTec, President of Glycominds Ltd, EVP of Adamas Pharmaceuticals Inc., CEO of GeneOs Ltd, CEO at DNA Sciences, and was a division President of Monsanto. Steven also worked with McKinsey & Co., and Proctor & Gamble Corporation.

Chris Hadfield - Advisor

Hadfield brings 40 years of scientific experience to the Canadian-Israeli biotech firm, which has developed and patented a plant bio-cell technology, called BioFarming, capable of growing the active and beneficial plant based ingredients at industrial scale, without the need to grow the plant itself.

INN does not provide investment advice and the information on this profile should not be considered a recommendation to buy or sell any security. INN does not endorse or recommend the business, products, services or securities of any company profiled.

The information contained here is for information purposes only and is not to be construed as an offer or solicitation for the sale or purchase of securities. Readers should conduct their own research for all information publicly available concerning the company. Prior to making any investment decision, it is recommended that readers consult directly with BioHarvest Sciences Inc. and seek advice from a qualified investment advisor.

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