- BioHarvest Sciences Inc. has signed two agreements for a new 80,000 square ft. facility in Yavne, Israel, equipped with 12 state-of-the-art GMP clean rooms.
- The new facility will accommodate the anticipated growth of the CDMO Business Unit and a new 50 tonne manufacturing facility expected to be operational in H2 of 2025.
- The company plans to move its Rehovot facility Research & Development and corporate administrative offices to the new BioHarvest Campus in the next 6-9 months.
BioHarvest Sciences Inc., a biotechnology company pioneering its patented Botanical Synthesis technology process, announced today the signing of two agreements: an equipment purchase agreement for 12 state-of-the-art GMP clean rooms, and a long-term lease agreement for a new 80,000 square ft. facility in Yavne, Israel.
The new facility houses industry-leading clean rooms, as well as built-out laboratory space, offices and additional space capable of supporting a new 50 Ton manufacturing facility. The commercial term of the lease is for 78 months at a cost of 20.2 million shekels (USD5.5 Million), subjected to changes in the Israeli consumer price index over the entire term. The equipment purchase price is 13 Million shekels (USD3.6M). All equipment for the clean rooms has been installed and is ready for immediate operational use.
This transaction gives Bioharvest immediate access to the required state-of-the-art clean rooms and built-out laboratories to accommodate the anticipated growth of the CDMO Business Unit. The facility has enough additional space to avail the building of a new 50 Ton manufacturing facility which is expected to be operational in H2 of 2025 to meet the forecasted demand of the Products Business Unit as well as to satisfy the initial large-scale manufacturing requirements of CDMO customers.
CEO Ilan Sobel stated: “We are pleased to announce our plans for a new corporate campus, which will consolidate our corporate, R&D and production footprints under one roof. This is a significant milestone that will allow us to support the anticipated growth of our CDMO services business while concurrently building the manufacturing capacity necessary to support the rapid growth of our products business.”
The company expects that Rehovot facility Research & Development and corporate administrative offices will be moved to the new BioHarvest Campus in the next 6-9 months. In the future, this new Campus will house all R&D functions and the addition of a new manufacturing facility in 2025. It will also allow CDMO customers to experience the complete end-to-end botanical synthesis development and manufacturing service under one roof. The Company anticipates that new technologies successfully implemented in this new campus will optimize the design of the 3rd generation production facility, which is expected to be built in the USA, with a 150 Ton capacity.
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