BioHarvest Sciences Inc. (CSE:BHSC, OTC:CNVCF) said it has produced cannabis biomass in large-scale industrial bioreactors, representing the completion of the company's cannabis R&D program.
On December 8, 2021, BioHarvest Sciences became the first-ever company to announce that it could produce cannabis biomass without growing the plant itself. The company has made significant progress since, producing cannabis in large-scale industrial bioreactors, marking the start of the transition to commercial-scale manufacturing.
"I am elated and proud of this achievement. The R&D team has relentlessly pursued this moment, which marks a new era for the cannabis industry. Our proprietary and unique amalgamated trichome structure has proven resistant to shear forces applied during the cell growth process in liquid media and it will demonstrate more advantages when it comes to the medicinal application of our products," Dr Yochi Hagay, BioHarvest Sciences CTO, said in a statement.
READ: BioHarvest Sciences projects significant revenue growth for 2022 as its business approaches scaling point
“I have never doubted our ability to use our CELLicitation technology to produce cannabis without the need to grow the plant itself and we have broken biological barriers to grow high-performance trichomes in liquid suspension. We are now ready to bring our first unique cannabis compositions to the world. We will of course continue to invest in cannabis R&D to add more cannabis products to the portfolio, appreciate the IP assets and drive even further manufacturing efficiencies," he added.
The Canada-listed biotech company has started the process to obtain a production license in Israel for its cannabis products to complement the R&D license it has used to date for the cannabis development program.
The company plans to bring its first cannabis products to market in 2022 and will be converting the current VINIA® two tons/year facility in Rehovot, Israel to produce cannabis. This is happening in conjunction with the transition of all VINIA manufacturing to the new 20 tons/year facility in Yavneh, Israel, which will support the scaling of successful sales of VINIA® in the US and beyond.
Ilan Sobel, BioHarvest Sciences CEO, added: "Our unprecedented achievements present a great opportunity for the cannabis industry. Consistent, clean, and efficacious cannabis that is produced with the highest ESG credentials and capital efficiency with significantly lower manufacturing costs is the revolution this industry needs to gain further market traction and trust by the regulators worldwide."
"Our CELLicitation platform technology is a true market disruptor, cementing BioHarvest's position as a leader in plant cellular biology. With the completion of the initial cannabis R&D program, more focus can now be applied towards achieving the desired scale for our two business verticals, Polyphenols/Antioxidants and Cannabis," Sobel said.
Contact the author at jon.hopkins@proactiveinvestors.com