Business
Burcon Agrees to Terminate Clarisoy License Agreement with ADM
Vancouver, British Columbia--(Newsfile Corp. - August 10, 2020) - Burcon NutraScience Corporat...
About this update from Burcon Nutrascience Corporation
[{"type":"text","content":"Burcon Agrees to Terminate Clarisoy License Agreement with ADMVancouver, British Columbia--(Newsfile Corp. - August 10, 2020) - Burcon NutraScience Corporation (TSX: BU) (OTCQB: BUROF) (\"Burcon\"), a global technology leader in the development of plant-based proteins, announced today that Burcon and ADM have agreed to terminate the license and production agreement dated March 4, 2011 made among Burcon, Burcon NutraScience (MB) Corp. and ADM for CLARISOY™ soy protein effective August 7th, 2020.As part of the agreement to terminate the exclusive license, the CLARISOY trademark will revert back to Burcon. Additionally, Burcon and ADM are discussing opportunities for Burcon to acquire certain processing equipment from ADM's CLARISOY™ processing facility. Burcon will provide additional updates on its plans for CLARISOY™ in the future.Unique to any other soy proteins on the market, CLARISOY™ soy proteins offer exceptionally high solubility, clean flavor and complete protein nutrition for low pH and neutral pH beverage systems.About Burcon NutraScience CorporationBurcon is a global technology leader in the development of plant-based proteins. With over 285 issued patents and more than 250 additional patent applications, that have been developed over a span of more than twenty years, Burcon has grown an extensive portfolio of composition, application, and process patents covering novel plant-based proteins derived from pea, canola, soy, hemp, sunflower seed and more. In 2019, Merit Functional Foods Corporation was established in a joint venture by Burcon and three veteran food industry executives. Merit Foods is building a state-of-the-art protein production facility in Manitoba, Canada, where it will produce, under license, Burcon's novel pea and canola protein ingredients. For more information visit www.burcon.ca.Forward-Looking Information Cautionary StatementThe TSX has not reviewed and does not accept responsibility for the adequacy of the content of the information contained herein. This press release contains forward-looking statements or forward-looking information within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 and applicable Canadian securities legislation. Forward-looking statements or forward-looking information involve risks, uncertainties and other factors that c...