Source plant is widely regarded as one of the most valuable fragrance raw materials in the worldStage 2 contract follows successful Stage 1 completion in March 2026Vancouver, British Columbia and Rehovot,

<p><i>Source plant is widely regarded as one of the most valuable fragrance raw materials in the world</i></p><p><i>Stage 2 contract follows successful Stage 1 completion in March 2026</i></p><p>Vancouver, British Columbia and Rehovot, Israel--(Newsfile Corp. - May 12, 2026) - BioHarvest Sciences Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/BHST">BHST</a>) (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.</p><p>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<i>. </i>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. </p><p>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. </p><p>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 industry<sup>1</sup>." </p><p>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."</p><p>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."</p><p><font>Sources:</font></p><p><font>(1) Grand View Research - Fragrance Market Report (2026-2033)<br /><a href="https://api.newsfilecorp.com/redirect/4Y8m3IQeRZ">https://www.grandviewresearch.com/industry-analysis/fragrances-market</a></font></p><p><b>About BioHarvest</b><br />BioHarvest (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/BHST">BHST</a>) (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 <a href="https://api.newsfilecorp.com/redirect/jN4geTO1nm">www.bioharvest.com</a>.</p><p><b>Forward-Looking Statements</b></p><p>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 <a href="https://api.newsfilecorp.com/redirect/vEOM2HoX0y" target="_blank">http://www.sec.gov</a>.</p><div id="contactInfo"><p><b>BioHarvest Company Contact: </b></p><p>Dave Ryan, VP Investor Relations<br />(604) 622-1186<br /><a href="mailto:info@bioharvest.com">info@bioharvest.com</a> </p><p><b>Investor Relations Contact:</b></p><p>Chuck Padala, Managing Director<br />LifeSci Advisors<br /><a href="mailto:chuck@lifesciadvisors.com">chuck@lifesciadvisors.com</a></p></div><p id="corporateNewsLogoContainer"><img src="https://images.newsfilecorp.com/files/6168/297104_5bad2463f4c37ae2_logo.jpg" id="corporateNewsLogo" alt="Corporate Logo" /></p><p id="corporateLinkBack">To view the source version of this press release, please visit <a href="https://api.newsfilecorp.com/redirect/JkEBzT7RMV">https://www.newsfilecorp.com/release/297104</a></p><p><img src="https://api.newsfilecorp.com/newsinfo/297104/197" alt="" /></p>

BHST

BioHarvest Sciences Signs $1.2M CDMO Stage 2 Contract for the Development of a Rare Fragrance Using Its Proprietary Botanical Synthesis Platform

BioHarvest Secures $1.2M Contract to Advance Fragrance Development

<section class="insight" data-version="1">
  <section data-block="information">
    <h3>Information</h3>
    <p>Source plant is widely regarded as one of the most valuable fragrance raw materials in the worldStage 2 contract follows successful Stage 1 completion in March 2026Vancouver, British Columbia and Rehovot,</p>
  </section>

  <section data-block="ai-summary-paragraph">
    <h3>AI Summary</h3>
    <p>BioHarvest Sciences has secured a $1.2 million Stage 2 contract, advancing its development of a rare fragrance raw material. This milestone positions the company to enter the lucrative premium fragrance market, projected at $23 billion, boosting growth potential and revenue streams post-commercialization.</p>
  </section>

  <section data-block="ai-summary-bullets">
    <h3>Key Points</h3>
    <ul><li>BioHarvest signed a $1.2M Stage 2 contract for fragrance development.</li><li>Successful Stage 1 completion enhances confidence in future trials.</li><li>BioHarvest retains 20% ownership of developed compositions.</li><li>Production readiness anticipated by late 2027, expanding market opportunities.</li><li>The premium fragrance market is valued at $23 billion, driving demand.</li></ul>
  </section>

  <section data-block="companies-mentioned">
    <h3>Companies Mentioned</h3>
    <ul><li><strong>BioHarvest Sciences Inc. (BHST)</strong>: Gaining traction in the fragrance market enhances long-term revenue.</li></ul>
  </section>

  <section data-block="category">
    <h3>Corporate Developments</h3>
    <p>This news falls under Corporate Developments as it highlights a significant contract and its implications for BioHarvest&#039;s growth strategy and market enterence.</p>
  </section>

  <section data-block="market-moving">
    <h3>Market-Moving</h3>
    <ul><li>A successful contract completion may attract additional customers, boosting revenue potential.</li><li>Expansion into the premium fragrance market could significantly enhance BHST&#039;s valuation.</li><li>Delays in commercialization could affect future investor sentiment and stock performance.</li></ul>
  </section>

  <section data-block="key-facts">
    <h3>Key Facts</h3>
    <ul><li>Contract is worth $1.2 million and set for completion in 2027.</li><li>Premium fragrance raw materials can exceed $10,000 per kilogram.</li><li>Stage 2 follows the successful completion of Stage 1 in March 2026.</li><li>Estimated premium fragrance market opportunity is $23 billion.</li><li>BioHarvest retains 20% ownership of developed compositions.</li></ul>
  </section>

  <section data-block="trading-thesis">
    <h3>Trading Thesis</h3>
    <p>Invest in BHST for near-term growth driven by fragrance development and royalty streams.</p>
  </section>
</section>


<p><i>Source plant is widely regarded as one of the most valuable fragrance raw materials in the world</i></p><p><i>Stage 2 contract follows successful Stage 1 completion in March 2026</i></p><p>Vancouver, British Columbia and Rehovot, Israel--(Newsfile Corp. - May 12, 2026) - BioHarvest Sciences Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/BHST">BHST</a>) (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.</p><p>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<i>. </i>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. </p><p>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. </p><p>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 industry<sup>1</sup>." </p><p>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."</p><p>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."</p><p><font>Sources:</font></p><p><font>(1) Grand View Research - Fragrance Market Report (2026-2033)<br /><a href="https://api.newsfilecorp.com/redirect/4Y8m3IQeRZ">https://www.grandviewresearch.com/industry-analysis/fragrances-market</a></font></p><p><b>About BioHarvest</b><br />BioHarvest (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/BHST">BHST</a>) (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 <a href="https://api.newsfilecorp.com/redirect/jN4geTO1nm">www.bioharvest.com</a>.</p><p><b>Forward-Looking Statements</b></p><p>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 <a href="https://api.newsfilecorp.com/redirect/vEOM2HoX0y" target="_blank">http://www.sec.gov</a>.</p><div id="contactInfo"><p><b>BioHarvest Company Contact: </b></p><p>Dave Ryan, VP Investor Relations<br />(604) 622-1186<br /><a href="mailto:info@bioharvest.com">info@bioharvest.com</a> </p><p><b>Investor Relations Contact:</b></p><p>Chuck Padala, Managing Director<br />LifeSci Advisors<br /><a href="mailto:chuck@lifesciadvisors.com">chuck@lifesciadvisors.com</a></p></div><p id="corporateNewsLogoContainer"><img src="https://images.newsfilecorp.com/files/6168/297104_5bad2463f4c37ae2_logo.jpg" id="corporateNewsLogo" alt="Corporate Logo" /></p><p id="corporateLinkBack">To view the source version of this press release, please visit <a href="https://api.newsfilecorp.com/redirect/JkEBzT7RMV">https://www.newsfilecorp.com/release/297104</a></p><p><img src="https://api.newsfilecorp.com/newsinfo/297104/197" alt="" /></p>

BioHarvest Sciences has secured a $1.2 million Stage 2 contract, advancing its development of a rare fragrance raw material. This milestone positions the company to enter the lucrative premium fragrance market, projected at $23 billion, boosting growth potential and revenue streams post-commercialization.

BioHarvest Sciences Signs $1.2M CDMO Stage 2 Contract for the Development of a Rare Fragrance Using Its Proprietary Botanical Synthesis Platform

AI Summary

Sentiment Rationale

Trading Thesis

Market-Moving

Key Facts

Companies Mentioned

Corporate Developments

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