VANCOUVER, BC and REHOVOT, ISRAEL – BioHarvest Sciences, a leading biotech company focused on plant bio-cells growth for the nutraceutical and the medicinal cannabis markets, today announced a partnership with Royal Emerald Pharmaceuticals (REP), one of only seven Drug Enforcement Administration (DEA) bulk manufacturing registration holders to grow marijuana in the United States. This follows BioHarvest’s October 25th announcement that it could produce unique compositions based on a CBD hemp plant that dramatically increase cannabinoid concentrations (by weight) versus the original plant.
The partnership enables BioHarvest to sell its cannabis products to research institutions and other DEA-registered entities in the United States federally, and opens the door to advance cannabis research initiatives through cannabinoid compositions not found in nature. Under the multi-year deal, BioHarvest will be REP’s exclusive provider of cannabis that is produced from non-traditional cultivation methods for scientific, medical and research purposes across the DEA-regulated U.S. market. As part of the partnership, REP is participating with an initial seven figure contribution in BioHarvest’s current convertible loan investment instrument that closes on November 15th.
Cannabis-based medicines could be a boon to pharmaceutical companies that are threatened today by the legalization of cannabis. A number of studies have demonstrated a reduction in prescription drug use in Medicaid and Medicare populations directly resulting from the legalization of cannabis. Together, REP and BHSC can offer pharmaceutical companies consistent medical-grade cannabis at highly attractive manufacturing costs with signature compositions tailored for addressing specific medical indications.
“I have unprecedented confidence in BioHarvest’s platform technology and their unique cannabis compositions especially after visiting their R&D and manufacturing facilities in Israel,” said Douglas Rosenberg, Chief Executive Officer of Royal Emerald Pharmaceuticals. “Cannabis-derived drugs are at the precipice of a tremendous opportunity right now as traditional pharmaceutical markets transition in search of new innovation and technological advancements that are utilizing cannabis to deliver better solutions. Together we are well-positioned for the expected significant increase in U.S. demand for medical-grade cannabis for therapeutic research. I look forward to a productive and mutually prosperous partnership.”
Using a patented technology in which vital plant cells are grown in bioreactors, BioHarvest has the unique ability to produce medicinal grade cannabis with consistent compositions by increasing, controlling and fine-tuning the concentrations of different major and minor cannabinoids. This could enable researchers to develop previously unattainable cures for major health challenges such as ADHD, pain management, sleep disorders, and anxiety.
“We’re extremely proud to partner with Royal Emerald to pair our breakthrough technology with their mission to revolutionize the cannabis medical research ecosystem by introducing unique and patentable cannabis compositions that are non-addictive and effectively treat a myriad of issues currently ailing our global communities,” said BioHarvest CEO Ilan Sobel. “BioHarvest and REP are committed to developing life-changing solutions for major medical conditions which today are not being adequately treated by existing, chemically synthesized drugs. Imagine what can be accomplished if researchers and the medical community at large are assured of batch-to-batch consistency and the ability to fine-tune the Cannabis based therapy to specific medical indications. That is truly revolutionary.”
Dr. Christopher D’Adamo, Director of the University of Maryland School of Medicine’s Center for Integrated Medicine, described BioHarvest’s technology as a major advancement.
“The medical establishment has been eyeing the potential of full-spectrum cannabis to address many chronic health indications in need of better treatment options,” D’Adamo said. “These achievements by BioHarvest, in naturally eliciting important minor cannabinoids to significant biologically active levels, combined with high levels of major cannabinoids, all produced with high levels of consistency, represent a major breakthrough towards the development of efficient cannabis-based botanical drugs.”
Royal Emerald Pharmaceuticals is one of only seven companies in the U.S. that hold DEA bulk-manufacturing licenses for scientific medical research. It is permitted to provide cannabis to at least 575 institutions that have DEA research licenses for cannabis research. They range from pharmaceutical companies to academic and medical institutions to government agencies such as the Department for Veterans Affairs and the National Institute on Drug Abuse.
REP also has a General Services Administration license which enables the company together with BioHarvest to apply for major government grants from government agencies for cannabis research.
About BioHarvest Sciences Inc.
BioHarvest Sciences Inc. (CSE: BHSC) is a fast-growing biotech firm that has developed a patented bio-cell growth platform technology capable of growing the active and beneficial ingredients in fruit and plants, at an industrial scale, without the need to grow the plant itself. This technology is economical, ensures consistency, and avoids the negative environmental impacts associated with traditional agriculture. BioHarvest is currently focused on nutraceuticals and the medicinal cannabis markets. Visit: www.bioharvest.com.
About Royal Emerald Pharmaceuticals
Royal Emerald Pharmaceuticals is a California-based United States DEA and FDA-registered manufacturer and supplier of non-addictive cannabis products being developed for medical, scientific and research purposes. The company was founded on a shared mission to help veterans, first responders and others service personnel on the front lines that sacrifice for the greater good and as a result suffer from trauma-related issues such as PTSD and other health consequences. Royal Emerald is dedicated to serving our heroes by developing best-in-class cannabis derived pharmaceuticals to address their specific health and medical needs. Visit: https://www.royalemeraldrx.com.