Batory Foods, BioHarvest's exclusive USA distributor, receives the first Purchase Order from "Designs for Health".
Vancouver, British Columbia--(Newsfile Corp. - December 23, 2020) - BioHarvest Sciences Inc. (CSE: BHSC) ("BioHarvest" or the "Company") announces the first significant win for its VINIA® B2B sales division. Batory Foods, the exclusive US distributor of VINIA®, has received the first Purchase Order of 60kg of VINIA® from "Designs for Health", a trusted source of health care professionals for research-backed health care nutritional products of superior quality. After a thorough review process, "Designs for Health" identified VINIA® as a key nutritional ingredient to utilize in its delivery of best-in-class science-based nutrition to its customers. VINIA®, a red grape cell product containing the entire matrix of polyphenols contained in red grapes with a high concentration of Piceid Resveratrol and other key Polyphenols in their naturally occurring state, has been scientifically validated in clinical trials to have important functional benefits for the body and accordingly will be integrated into a number of "Designs for Health" nutritional products.
"At 'Designs for Health', we use the motto and tag-line 'Science First', and we mean it," said Dr. David M. Brady, Chief Medical Officer of Designs for Health. "This includes the raw materials and suppliers we chose to work with as we develop our world-renowned products for physicians and health care providers to recommend to their patients. We could not have found a better partner than BioHarvest, and a better material than VINIA®, in meeting these requirements. We only work with partners and collaborators who share our commitment to science and efficacy, as well as our ethics and values".
Kelley Karas, Corporate Director of Quality at "Designs for Health", added "We are happy to announce that BioHarvest has passed our supplier qualification process and their VINIA® material has met our strict specifications. These are based on the highest standards through thorough qualification and testing beyond the requirements of 21 CFR 111. VINIA® adheres to our principle of bringing the highest quality supplements".
Vince Pinneri, President of Batory Foods stated: "The first Purchase Order for VINIA® is a sign of more to come. Together with BioHarvest, we were able to easily communicate the superiority of VINIA® and translate it into significant value for 'Designs for Health'. We are convinced that Batory can identify many more customers who would appreciate the strong scientific and clinical support for BioHarvest's products. We are pleased by this partnership with BioHarvest and looking forward to a successful 2021"
"This significant win validates our B2B strategy" stated Ilan Sobel, CEO of BHSC, adding "This initial Purchase Order is a clear indicator that we made a great choice in selecting Batory as our exclusive distributor in the US. This partnership is yielding results in record time considering the B2B sales cycle. Furthermore, the selection of VINIA® by "Designs for Health" is an endorsement of the superiority of our BioFarming technology for the consistent and quality production of metabolites such as Resveratrol".
Bioharvest and Batory Foods continue to build the B2B Vinia sales pipeline for 2021, and the Company believes that this first US sale, combined with the strength of B2C sales in Israel and pending launch of VINIA® B2C in the US in April 2021, provides BioHarvest with confidence that it will achieve 2021 revenue targets and "break-even" financial model for the Nutraceutical vertical.
About BioHarvest Sciences Inc.
Based in Vancouver BC, BioHarvest Sciences Inc. is the developer and exclusive owner of the proprietary and patent protected BioFarming technology. It is the first and only industrial-scale plant cell technology capable of producing the active plant ingredients without the necessity to grow the plant itself. The Company's technology is non-GMO and has already been validated by VINIA®, the red grapes cells functional food/dietary supplement produced and sold by BioHarvest Sciences Inc. The Company plans to generate significant revenue within the global nutraceutical ingredients and dietary supplements market with VINIA® and other Super Fruit Nutraceutical products. Further, by adapting this technology to the Cannabis plant, and building adequate production capacity, BioHarvest Sciences Inc.'s objective is to become a leading supplier of Cannabis for both medicinal and legal recreational purposes. Visit: www.bioharvest.com.
Readership, please note Dr. David Brady is also a member of the BioHarvest 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
Email: dave@bioharvest.com
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Forward-Looking Statements
Information set forth in this news release includes 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. A purchase order is not a guarantee of payment. The Company recognises revenue when payment is received and makes the required allowances for possible returns. There are no assurances of additional orders from 'Designs for Health' or other US purchasers and no assurances the Company will meet its 2021 targets. There is also no assurance the Company will generate significant revenue in the global nutraceutical and dietary supplements markets. 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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