BioHarvest Sciences (BHST) Canaccord Genuity's 46th Annual Growth Conference summary

Technology and platform overview

• Developed a horizontal, platform-based plant cell culture technology enabling production of plant-derived molecules without growing the whole plant.

• Technology is non-GMO, scalable, and enables consistent, batch-to-batch production of precision botanicals in large-scale bioreactors.

• Over $100 million invested in R&D since 2007, resulting in 15 patents covering process and composition.

• AI and machine learning are integrated for discovery, process optimization, and validation of molecule-receptor binding.

• Computer vision reduces experimental workload, enhancing efficiency in cell analysis.

Product pipeline and commercialization

• Flagship product VINIA, based on red grape cells, generated $33 million in sales last year and is sold D2C and on Amazon.

• Additional products in advanced stages include olive and pomegranate-based molecules, saffron, and a rare fragrance ingredient.

• Signed a $20–30 million fragrance ingredient agreement for 2027–2028, retaining 20% molecule ownership.

• Saffron product retains 25% ownership and targets culinary, supplement, and fragrance markets.

• Five products expected in manufacturing by 2028, with a new site to be commissioned end of 2027.

Business model and partnerships

• Operates as a CDMO, developing, producing, and selling plant-based molecules, with additional royalty streams.

• Engaged in projects for major clients like Tate & Lyle (now Ingredion), with potential for technology licensing and customer-built capacity.

• Business model allows for simultaneous production of multiple products across pharma, nutraceutical, cosmeceutical, and nutrition industries.

• Revenue from CDMO business started in 2025, with $2 million in initial revenue, separate from VINIA sales.

• Royalty agreements and equity retention in customer projects provide ongoing revenue streams.