COSCIENS Bioscience is a Canadian life science company that produces and sells natural, plant-based active ingredients derived primarily from oats. Its core products include beta glucan, avenanthramides (colloidal oat extract), oat powder, oat oil, and oat peptides — ingredients used by personal care, cosmetics, nutraceutical, and animal health companies as inputs in their own finished products, such as skincare formulations. COSCIENS produces these ingredients at its Edmonton, Alberta facility using proprietary extraction technologies, processing over 144 metric tons of active ingredients in 2025. The company sells almost entirely through distribution partners, keeping its cost structure lean, but creating heavy dependence on a single distributor — Symrise, a large German fragrance and cosmetic ingredients supplier — which accounts for over 84% of sales. The exclusive supply agreement with Symrise expires at end of 2026, representing a near-term risk. COSCIENS was formed through a 2024 merger between pharma company Aeterna Zentaris and oat-ingredients business Ceapro. In early 2026, COSCIENS abandoned its legacy pharmaceutical assets, including Macrilen, an FDA-approved oral diagnostic for adult growth hormone deficiency, after disappointing clinical trial results eliminated the path to expanding the drug's market. COSCIENS is now a pure-play oat ingredients business. Beyond its core business, COSCIENS is investing in two early-stage platforms: PGX Technology, a licensed processing technology that converts biopolymers into novel porous materials, which is not yet generating revenue; and an early-stage clinical program evaluating oral avenanthramides for inflammation-related conditions.