BioHarvest Sciences Inc. (CSE:BHSC, OTC:CNVCF) announced that its flagship red grape-based supplement VINIA will be incorporated into new products targeting the food and beverage and nutraceuticals markets.
The company said it has identified opportunities to drive differentiated and winning product propositions around VINIA and its blood flow benefits, including across the three major categories of functional coffee and decaffeinated coffee pods, protein bars, and electrolyte beverages.
It has entered into a partnership with a manufacturer within each of these categories, each of whom has already integrated VINIA to ensure the product delivers a superior taste experience while retaining its functionality, BioHarvest said.
The company added that it believes it can enter these new product categories without substantial additional investment, which in turn with achieve numerous strategic goals over the next 18 months, including broadening its addressable market to include additional age ranges and lifestyles; increasing its topline revenue to achieve double-digit quarter-over-quarter growth; and increasing marketing efficiencies by cross-selling products across its new portfolio.
“We are setting the stage for continued growth acceleration in 2024 as we implement the right strategies to optimize the financial performance of the company,” BioHarvest CEO Ilan Sobel said in a statement.
"Our Botanical Synthesis continues to take us to new horizons - moving from one SKU to 10 SKUs in the course of the next 12 months will be a game changer for BioHarvest, The scalability we achieve in our e-commerce platform will be enhanced almost 10-fold, with our Superior Science, Superior Taste, and Superior Efficacy reflecting the obvious unique features of these new products.”
Coca-Cola former head of global sports and entertainment marketing Scott McCune added: “BioHarvest is making a smart strategic move in extending the reach of VINIA by availing the product through additional consumption occasions that fit into different lifestyles and habits, such as sports and the important coffee drinking ritual.”
BioHarvest is a biotechnology firm that has developed a patented bio-cell growth platform technology capable of growing the active and beneficial ingredients in fruits and plants at an industrial scale without needing to grow the plant itself.
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