Unveiling the Highlights: Recent Corporate Achievements

 Revenue increase for six month period of 116% year over year

Biopesticide technology receives regulatory approval for 2023 field studies

Debut of twice-as-powerful acrylamide-reducing yeast

Appointment of seasoned professional to Board

Vancouver, British Columbia – June 15, 2023 – Renaissance BioScience Corp. (“Renaissance” or the “Company”) is pleased to report on recent corporate developments. All amounts are presented in Canadian dollars unless otherwise stated:

    1. The Company entered into a joint development agreement (“JDA”) for yeast strain optimization. This JDA brings revenue to the Company over the development period and upon successful completion, success fees based on future sales of the optimized yeast strain. This JDA is a direct result of Renaissance’s world class bioengineering capabilities and demonstrates the importance of establishing relationships with world leading companies to lead to additional revenue generating projects.

    2. Increased royalties from Renaissance’s license agreements. During the six months ended March 31, 2023, two new products resulted in the majority of the increase inroyalty revenue for Renaissance and are expected to continue to drive revenue growth over the prior year for the remainder of fiscal 2023 and beyond.

Looking Ahead

Renaissance’s key development and financial performance goals for both the quarter and six month period have been met and our expectation is for continuing quarter over quarter revenue growth from sales growth of existing commercial products already in distribution with our current commercial partners, the plans for new product introductions and increased distribution expansion for existing products and expected increase in joint development projects with new commercial partners. 

About Renaissance

Based in Vancouver, Canada, Renaissance is a biological engineering company, whose platform technologies are used to develop innovative, market-ready, functional microorganisms that provide sustainable solutions to a broad range of health, environmental and industrial problems. 

For more information, please visit our website at or contact:

Davona Walton, CFO


Phone: 604-822-6499

Caution Regarding Forward-Looking Statements

This press release may include forward-looking statements with respect to the Company based on management’s opinions, estimates and assumptions considering its experience and perception of historical trends, current conditions and expected future developments, as well as other factors that management currently believes are appropriate and reasonable in the circumstances. Generally, forward-looking statements can be identified using terminology such as “anticipate”, “will”, “expect”, “may”, “continue”, “could”, “estimate”, “forecast”, “plan”, “potential” and similar expressions. The forward-looking statements contained in this press release are made as of the date hereof. 

Forward-looking statements contained in this press release may include, but are not limited to: statements with respect to the successful execution of the Company's business and investment strategy (including its business model), the Company’s intellectual property, entrance of the Company’s business into new markets, the use and benefits of its products and services, the Company’s favourable position in the market on a go-forward basis, demographic and market size/trends, forecasts of revenue and financial projections/growth potential, competitive analysis, projected milestones, go-forward management, go-forward capitalization, anticipated governmental and regulatory approvals and other expectations, beliefs, plans, objectives, assumptions, intentions or statements about future events or performance, review and approval dates, start-up timelines and schedules and statements related to the continued overall advancement of the Company’s business. 

By their nature, forward-looking statements are subject to a variety of factors that could cause actual results to differ materially from the results suggested by the forward-looking statements. In addition, the forward-looking statements require the Company to make assumptions and are subject to inherent risks and uncertainties. Despite a careful process to prepare and review the forward-looking information, there can be no assurance that the underlying opinions, estimates and assumptions will prove to be correct. There is significant risk that the forward-looking statements will not prove to be accurate, that the Company’s assumptions may not be correct and that actual results may differ materially from such forward-looking statements. Accordingly, readers should not place undue reliance on the forward-looking statements. 

Except as required by law, the Company undertakes no obligation to update publicly or to revise any forward-looking statements that are contained or incorporated in this press release. All forward-looking statements contained in this press release are expressly qualified by this cautionary statement.

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