BioHarvest Sciences Expands Operations with New 80,000 Square Foot Facility in Yavne, Israel
Company also purchased equipment for 12 good manufacturing practice clean rooms.
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BioHarvest Sciences announced that it has expanded its operations through the signing of a long-term lease for a new 80,000 square foot facility in Yavne, Israel. Additionally, the company purchased equipment for 12 good manufacturing practice (GMP) clean rooms. In total, the lease is expected to cost $5.5 million for a total of 78 months, with the equipment costing an additional $3.6 million. The facility also includes laboratories, office space, and additional space planned for a 50-ton manufacturing facility, with operations expected to commence in the second half of next year.
As a part of the move, all corporate offices will be expected to be based out of the new campus in the upcoming six to nine months, while all R&D will take place at the new facility as well. BioHarvests expects the new location to enhance its Contract Development and Manufacturing Organization (CDMO) capabilities, including the botanical synthesis manufacturing process, which focuses on increasing production yields and efficiencies.1
“We are pleased to announce our plans for a new corporate campus, which will consolidate our corporate, R&D and production footprints under one roof. This is a significant milestone that will allow us to support the anticipated growth of our CDMO services business while concurrently building the manufacturing capacity necessary to support the rapid growth of our products business,” said Ilan Sobel, CEO BioHarvest Sciences, in a press release. “We were able to secure the facility lease, and equipment purchase agreements on excellent terms. I look forward to continuing our steady cadence of operational execution in the months ahead as we strive to leverage the power of the plant kingdom to transform the pharmaceutical, cosmeceutical, nutraceutical, and food nutrition industries.”
In February, BioHarvest signed its first contracts to develop complex molecules with its Botanical Synthesis CDMO unit. According to the company, the contracts are with a NASDAQ-listed pharmaceutical company and a nutrition and ingredients organization. Reportedly, this process enables development and manufacturing of patentable plant-based small molecules, complex molecules, and unique compositions, which include both small and complex molecules.
BioHarvest explained that its technology is offered to companies in three steps, including:
- Producing a small biomass of the plant-based biologics from the source plant.
- Delivery of an increased amount of biomass to enable clinical trials and other tests.
- Bringing the molecules to a large-scale production capability.2
“Our mission to turn thousands of plants into scientifically reliable sources of therapeutic molecules will be accelerated by our CDMO business model. The launch of this new business unit will, for the first time, offer our proprietary Botanical Synthesis process technology to pharmaceutical companies as well as to other key industry verticals who are actively searching for new complex molecules to drive their innovation and growth agendas. These two contracts with established industry players are a major validation of the critical market need for our Botanical Synthesis Process and Biologics+ molecules,” said Sobel, in a press release. “BioHarvest is actively engaging with other potential CDMO customers. Early feedback has validated our strategy thesis that industry leaders are aggressively searching for the next high impact molecules to drive value in their respective businesses, and it has confirmed the strength of the Bioharvest Botanical Synthesis CDMO proposition for that purpose.”
References
1. BIOHARVEST SCIENCES ANNOUNCES NEW CAMPUS FOR BOTANICAL SYNTHESIS CDMO AND EXPANSION OF MANUFACTURING CAPACITY. BioHarvest. April 16, 2024. Accessed April 16, 2024. https://bioharvest.com/bioharvest-sciences-announces-new-campus-for-botanical-synthesis-cdmo-and-expansion-of-manufacturing-capacity/
2. BIOHARVEST SCIENCES SIGNS FIRST CONTRACTS WITH TWO INDUSTRIAL CUSTOMERS TO DEVELOP COMPLEX MOLECULES VIA ITS NEWLY LAUNCHED BOTANICAL SYNTHESIS CDMO BUSINESS UNIT. BioHarvest. February 26, 2024. Accessed April 16, 2024. https://bioharvest.com/bioharvest-sciences-signs-first-contracts-with-two-industrial-customers-to-develop-complex-molecules-via-its-newly-launched-botanical-synthesis-cdmo-business-unit/
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