BioHarvest Sciences Inc announced that David Tsur will be joining its board as a non-executive director.
The Vancouver-based company said Tsur’s appointment will reinforce BioHarvest’s primary focus on becoming a leader in the biotech field.
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"David is an important addition to the Board as we look to deliver against the company's strategic objectives,” said Ilan Sobel, CEO of BioHarvest in a statement. “Most importantly, David joining the board is a testament to our ability to attract highly qualified individuals to join our team."
Tsur, the co-founder of Kamada Ltd, comes with 40 years of biotech experience. He served as its CEO since 1990 when the company was established. Tsur currently serves as deputy chairman of Kamada.
During his career, Tsur has been responsible for generating sales of more than $1 billion (USD) for companies operating in more than 20 countries. He has also built multiple strategic relationships with U.S. and European companies while leading these companies through innovation processes.
"I am very excited to join the board of BioHarvest. I truly believe that BioHarvest's proprietary BioFarming technology will revolutionize a number of industries, and I look forward to working with the board and management to fully operationalize this vision," said Tsur.
BioHarvest has granted Tsur 400,000 stock options that are exercisable to purchase the company’s common shares at C$0.345 and will vest quarterly over a three-year period and are valid for 10 years.
Chairman of the board, Zaki Rakib said: "BioHarvest is committed to world-class governance, and our ability to attract someone of David's caliber demonstrates the strength of our business."
The biotech firm has developed a patented bio-cell growth platform technology capable of growing the active and beneficial ingredients in fruit and plants, at an industrial scale, without the need to grow the plant itself. BioHarvest is currently focused on nutraceuticals and the medicinal cannabis markets.
Contact Ritika at ritika@proactiveinvestors.com