Vancouver, BC / February 4, 2021 / BioHarvest Sciences Inc. (“BioHarvest” or the “Company”) (CSE: BHSC) announces that it has signed a financial advisory agreement with Cukierman & Co. Investment House Ltd., a full service Israeli financial advisory firm with life sciences expertise and global capabilities, granting it a mandate to explore opportunities for the application of VINIA® as an adjuvant therapy in the treatment of type 2 diabetes patients.
The primary purpose of the agreement is for Cukierman to assist BioHarvest in forming strategic and commercial partnerships with relevant pharmaceutical companies. Over the years, BioHarvest has conducted with VINIA® multiple clinical trials that support VINIA’s structural and functional claims in the cardiovascular field and the results of such trials have been published in peer-reviewed scientific journals. BioHarvest has also completed a clinical trial administering VINIA® to type 2 diabetes patients being treated with oral antidiabetic medications (no insulin). The double blind and placebo controlled trial was conducted at the Wolfson Medical Center in Israel under the supervision of Prof. Wainstein of the Diabetes Unit, Shackler Faculty of Medicine, Tel Aviv University. The results were presented at the “76th Scientific Sessions” conference of the American Diabetes Association. The results of the clinical trial have demonstrated a statistically significant impact on HbA1c and insulin resistance levels of patients enrolled. Accordingly, the Company has decided to engage Cukierman to assist the Company in engaging with relevant players in the pharmaceutical industry.
VINIA® has been developed on the basis of BioHarvest’s proprietary BioFarming technology which is currently the only cost-efficient way to produce the full matrix of the polyphenolic content of red grape cells with a particularly high concentration of Piceid Resveratrol.
The exclusive agreement that includes the assistance in seeking strategic transactions in other areas of BioHarvest’s business is for an initial term of 9 months and renews for successive 3 month terms unless terminated by either of the parties. It also includes introducing, when relevant, potential financing on a non exclusive basis. The fees terms are customary and they are fixed and results based.
“We are excited about the potential of VINIA® as an adjuvant therapy and more so in the ability to assist the world in dealing with one of its major health problems, as type 2 diabetes impacts 15% of those aged 50–69, and 22% of those aged 70+ on a global basis (as published by the journal of Epidemiology and Global Health in March 2020). We believe the experience and track record of Cukierman and especially their head of the life sciences practice will translate into a substantial opportunity for BioHarvest to further flex the muscles of its proprietary and patented BioFarming technology” said Ilan Sobel, CEO of BioHarvest.
Dr. Laurent Choppe, Managing Partner and Head of Cukierman said “We are gratified by the election of BioHarvest to use our firm to bring VINIA® to the pharmaceutical world. We are impressed with BioHarvest’s technology and the depth of their science, and more so, with the clinical studies the Company has conducted. Based on the results of these clinical trials, we identified the potential of VINIA® as an adjuvant therapy for type 2 diabetes as well as metabolic syndrome patients. We are confident we can bring value to BioHarvest by introducing the product and the company to relevant potential strategic partners and/or customers”.
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.