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SEC filingBioHarvest Sciences signed a $1.2 million Stage 2 CDMO contract for developing a rare fragrance raw material using its Botanical Synthesis platform, following successful Stage 1 completion.
BioHarvest Sciences has secured a significant $1.2 million Stage 2 contract through its CDMO division, marking a key advancement in its Botanical Synthesis platform application to the high-value fragrance industry. This follows the successful Stage 1 milestone in March 2026, where a stable cell bank was established for a rare scent-producing plant compound prized as one of the world's most valuable fragrance raw materials, with premium grades exceeding tens of thousands of USD per kilogram. The Stage 2 phase, spanning six to nine months, will produce sufficient material for commercial trials, positioning the company for production scale-up in the second half of 2027 alongside a new facility commissioning. Critically, the agreement grants BioHarvest 20% ownership of the resulting compositions and establishes it as the manufacturing partner, fostering a sustainable royalty-driven revenue stream. CEO Dr. Zaki Rakib highlighted this as overcoming the tallest technological hurdle, enabling entry into the $23 billion premium fragrance segment within the $58.9 billion global scents market. The UAE partner's endorsement after Stage 1 success underscores validation of BioHarvest's technology, with potential to attract further CDMO clients in fragrances, bolstering long-term growth in this vertical.