BioHarvest Sciences Aims for Dual Listing on Tel Aviv Stock Exchange
Biotech firm BioHarvest Sciences, founded and managed by businessman Zaki Rakib, has announced its intention to list on the Tel Aviv Stock Exchange. The company, already trading on NASDAQ and the Frankfurt Stock Exchange with a valuation of $43 million, follows Alpha Tau, another biomed company that recently dual-listed in Israel. This move suggests the Israeli capital market is becoming increasingly attractive for companies with significant "dream" components.
BioHarvest, co-founded with Dr. Yuval Haggi, specializes in producing biological components, typically derived from plants, using cell culture technology in its growth facilities instead of cultivating plants directly. Their slogan highlights the inefficiency of natural sourcing for medicinal materials. The company began trading in Canada in 2020, followed by Frankfurt in 2021 and NASDAQ in 2024, before delisting from Canada in 2025. Its stock has seen a 75% decline in value over the past year.
The company's primary product is Vinia, a dietary supplement derived from red grape cells, containing resveratrol, which studies suggest acts as an antioxidant and blood thinner. It is marketed to enhance cognitive function and vitality. BioHarvest is also developing supplements from olive and pomegranate cells, claiming anti-inflammatory benefits. Additionally, the company offers services to other firms in the field.
In the second quarter, BioHarvest reported revenues of approximately $8 million, a 3.85-fold increase year-over-year, with a 59% gross profit margin. However, it incurred an operating loss of $2.5 million and a net loss of $3.7 million. For 2026, the company projects revenues of $33-35 million from its grape product, a downward revision from previous forecasts, attributed to a planned 20% price increase aimed at improving profitability. Despite this, the company anticipates an EBITDA loss of $3-5 million due to investments in other products.
Rakib stated that Vinia represents a stable and growing operation, and the company is prioritizing profit margins and cash discipline over top-line growth. BioHarvest is also enthusiastic about its service offerings to other companies, including a recent agreement to produce rare fragrance extracts for a client in the UAE, potentially for market by mid-2027. The company is also collaborating with SaffronTech in Rehovot to develop a biotech process for large-scale saffron production and is working with another partner to produce artificial sweetener molecules through cell cultures.
