- The new factory is ready to start production to meet the increased demand for VINIA®
- On track for the conversion of the existing 2 tons/year facility to a Cannabis production facility within H1, 2022
BioHarvest Sciences Inc. (CSE: BHSC) ("BioHarvest" or the "Company") announces that the new manufacturing facility in Israel has obtained the GMP (Good Manufacturing Practices) certification from the Israeli Ministry of Health. The GMP certificate is pursuant to the successful fulfillment of the Israeli Ministry of Health's ISO9001 and ISO22000 (HACCP) requirements announced on September 9, 2021. All obtained certifications ensure that the factory employs the best practices and that the required quality control and quality management systems are in place across the end-to-end manufacturing process.
The facility will have the capacity to produce over 20 tons/year of VINIA® as well as other polyphenol-based products the Company has in its innovation pipeline. Pilot production of VINIA® in the new facility has begun, and the capacity will be steadily increased each month to meet the growing demands of VINIA®'s D2C business in Israel, USA, and future global markets. In addition, the facility will provide important VINIA® capacity for key strategic B2B customers such as "Designs for Health Inc." who have already in 2021 formulated VINIA® into 3 key new products ("NRF2 Modulator", "Senolytic Synergy" and "Bergavin™")
Kobi Rosenzweig, VP of Operations at BioHarvest Sciences, said: "I am very proud of the BioHarvest technology and manufacturing team who has been relentlessly working to obtain the certifications. This achievement enables the commencement of the production of VINIA® in the new facility as well as the planned conversion of the existing 2Tons/year facility to Cannabis. Once again, I would like to thank our manufacturing partner Sugart and especially Ori Hahn, their CEO, for all the efforts exerted to deliver on such an aggressive schedule."
"This milestone represents a turning point for our manufacturing capacity and the product delivery commitments we can make to our customers," said Ilan Sobel, CEO of BioHarvest Sciences. "From the first day I took the helm of the Company, I committed to operationalizing all of its arms. Building a factory in 12 months and obtaining the ISO and GMP certifications immediately proves that the Company delivers on its commitments. Now that we have implemented the industrial manufacturing blueprint of our BioFarming technology in 12 months, we are confident in our ability to scale our technology and add on new verticals as in the case of Cannabis."
Dr. David Brady, Chief Medical Officer at "Designs for Health Inc.", said: "As a customer of BioHarvest, the GMP certification provides us with increased confidence in the Company's ability to increase the product delivery capacity while meeting our quality requirements. To that end, we have now included VINIA® in a number of new product offerings and we plan to expand the role of VINIA® (and other new future compounds from BioHarvest) into additional product offerings."
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.
Readership, please note Dr. David Brady is also a member of the BioHarvest Scientific Advisory Board.
BioHarvest Sciences Inc.
Ilan Sobel, Chief Executive Officer
For further information, please contact:
Dave Ryan, VP Investor Relations & Director
Phone: 1 (604) 622-1186
Information set forth in this news release includes 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. In particular, there is no assurance the Company will be able to successfully convert the exiting 2 tons/year VINIA® facility to a Cannabis production facility in H1, 2022. There is no assurance we will be able to commercialize our first Cannabis products in the first half of 2022, and there is no assurance the Company will be able to add new verticals or build additional plants elsewhere. 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. The success of the Company in demonstrating its ability to consistently grow in solution trichomes from multiple plant strains is not an assurance that the Company will be able to commence commercial production when anticipated or at all. While the Company is in the process of constructing a two-ton production facility, the Company's current licensing only permits scientific research. 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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