BioHarvest Sciences (NASDAQ: BHST) lands $1.2M Stage 2 rare fragrance deal
Rhea-AI Filing Summary
BioHarvest Sciences Inc. reported that its CDMO division has signed a $1.2 million Stage 2 contract to develop a rare fragrance ingredient using its proprietary Botanical Synthesis platform. The source plant is described as one of the most valuable fragrance raw materials globally, with premium grades selling for tens of thousands of dollars per kilogram.
Stage 2 follows completion of Stage 1 in March 2026, when a stable cell bank containing rare molecules was created. Over the next six to nine months, BioHarvest aims to produce enough fragrance raw material for commercial trials. Under the agreement, the company retains 20% ownership of successfully developed compositions and is positioned as the manufacturing entity, supporting a long-term, royalty-driven economic model.
Management highlighted that this milestone advances BioHarvest toward potential production in the second half of 2027, aligned with a planned new production facility. The company links this opportunity to an estimated $23 billion premium fragrance segment within a $58.9 billion global scents and fragrances market.
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Insights
$1.2M Stage 2 CDMO deal deepens BioHarvest’s fragrance push.
BioHarvest is advancing a multi-stage program by securing a $1.2 million Stage 2 contract with a UAE-based investment group for a rare fragrance ingredient. This builds directly on Stage 1, where a stable cell bank of rare plant-derived molecules was established.
The agreement structure is notable: BioHarvest retains 20% ownership of successfully developed compositions and acts as manufacturer, which could support future royalty streams if commercialization succeeds. The counterparty’s plan to target product launch in the second half of 2027 adds a medium-term commercialization horizon.
The company situates this work within a premium fragrance segment estimated at $23 billion out of a $58.9 billion global scents and fragrances market. Actual financial impact will depend on successful completion of Stage 2, subsequent stages, and market acceptance, as emphasized in the forward-looking statement cautions.
Key Figures
Key Terms
Botanical Synthesis technical
CDMO financial
cell bank technical
royalty-driven economic model financial
forward-looking statements regulatory
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the month of May 2026
Commission file number: 001-42389
BIOHARVEST SCIENCES INC.
(Exact name of Registrant as specified in its charter)
Not applicable
(Translation of Registrant’s name into English)
1140-625 Howe Street, Vancouver, British Columbia V6C 2T6, Canada
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
☐ Form 20-F ☒ Form 40-F
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ☐
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ☐
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Exhibits:
Exhibit | Description |
99.1 | News Release dated May 12, 2026 |
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| BIOHARVEST SCIENCES INC. |
| (Registrant) |
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Date: May 12, 2026 | /s/ David Ryan |
| Name: David Ryan |
| Title: Vice-President, Investor Relations & Secretary |
BioHarvest Sciences Signs $1.2M CDMO Stage 2 Contract for the Development of a Rare Fragrance Using its Proprietary Botanical Synthesis Platform
Source plant is widely regarded as one of the most valuable fragrance raw materials in the world
Stage 2 contract follows successful Stage 1 completion in March 2026
Vancouver, British Columbia and Rehovot, Israel - (May 12, 2026) - BioHarvest Sciences Inc. (NASDAQ: BHST) (FSE: 8MV0) (“BioHarvest” or the “Company”), a leader in Botanical Synthesis technology and sustainable plant-based molecule development, today announced that its CDMO division has signed a $1.2 million-dollar Stage 2 contract as part of a multi-stage development program for a rare scent-producing plant used in the global fragrance industry. This scent is widely regarded as one of the most valuable fragrance raw materials in the world, with premium grades commanding prices exceeding tens of thousands of U.S. dollars per kilogram and demand growing across the Middle East, Asia, and luxury Western perfume markets.
This contract is subject to a non-disclosure agreement which prevents the disclosure of the other party and the targeted plant compounds, and follows completion of Stage 1 in March 2026, where a stable cell bank of a unique cell culture-based composition containing rare molecules was produced. At the end of Stage 2, which will take approximately six to nine months, BioHarvest will have produced enough of the fragrance raw material for the purpose of conducting commercial trials.
Under the terms of the Stage 2 agreement with this customer, BioHarvest retains 20% ownership of the compositions successfully developed and would also earn a second source of revenue as the manufacturing entity, creating a long-term, royalty-driven economic model as the cell bank under development advances toward commercialization.
CEO of BioHarvest Sciences Dr. Zaki Rakib, commented, “A Stage 2 contract means that we have crossed the tallest technological hurdle of this unprecedented research and development journey. It also means we can be ready for production in the second half of 2027, in tandem with an increase in manufacturing capacity due to the planned commissioning of a new production facility. This milestone also brings BioHarvest closer to entering the growing premium fragrance segment, estimated to represent a $23 billion-dollar market opportunity within the global $58.9 billion scents and fragrances industry1.”
The Major Principal of the partner firm, which is a prominent United Arab Emirates-based investment group, commented, “We have gladly awarded BioHarvest this contract after being highly encouraged by the successful completion of Stage 1. Soon, we will be initiating our commercialization program designed to bring the product to market in the second half of 2027.”
1 Sources:
Grand View Research - Fragrance Market Report (2026-2033)
https://www.grandviewresearch.com/industry-analysis/fragrances-market
Dr. Rakib added, “This contract is expected to serve as a catalyst for engaging additional potential customers in other future fragrance programs using BioHarvest’s Botanical Synthesis platform. We believe that the unique scalable capability of our technology significantly expands the addressable market opportunity for our CDMO division and strengthens our long-term royalty-driven growth strategy.”
About BioHarvest
BioHarvest (NASDAQ: BHST) (FSE: 8MV) is a leader in Botanical Synthesis, leveraging its patented technology platform to grow plant-based compounds, without the need to grow the underlying plant. BioHarvest is leveraging its botanical synthesis technology to develop the next generation of science-based and clinically proven therapeutic solutions within two major business verticals; as a contract development and manufacturing organization (CDMO) on behalf of customers seeking novel plant-based compounds, and as a creator of proprietary nutraceutical health and wellness products, which includes dietary supplements. To learn more, please visit www.bioharvest.com.
Forward-Looking Statements
This news release contains forward-looking statements within the meaning of applicable securities laws. These statements are based on management’s current expectations, beliefs, and assumptions and are subject to risks and uncertainties that could cause actual results to differ materially. For the CDMO Services Business Unit, there is no assurance of additional future contracts, and readers are cautioned that increased revenue is not necessarily an increase in net income or profitability as costs will likely increase as well. There is no assurance that signed research agreements will proceed past a contracted stage, or that a developed molecule or compound will be commercialized or will generate royalties to the Company. Successful commercialization of any compound developed will be subject to consumer preferences, advertising budgets and other factors affecting market acceptance of new products which are uncertain and cannot be assured. Launching new products is subject to risks and uncertainties including the risk that the market will not accept the product or that government approvals required for sale or import of the products will not be obtained. There is never an assurance that any product set will successfully disrupt established product categories. Readers are cautioned not to place undue reliance on forward-looking statements. The Company does not undertake any obligation to update forward-looking statements except as required by applicable law. Additional information is contained in the Company’s SEC filings, available at http://www.sec.gov.
BioHarvest Company Contact:
Dave Ryan, VP Investor Relations
(604) 622-1186
info@bioharvest.com
Investor Relations Contact:
Chuck Padala, Managing Director
LifeSci Advisors
chuck@lifesciadvisors.com