Business
BURCON AND ADM ENTER INTO CLARISOY® LETTER OF INTENT
BURCON AND ADM ENTER INTO CLARISOY® LETTER OF INTENT
About this update from Burcon Nutrascience Corporation
[{"type":"text","content":"\n\n\n\n Nov. 15, 2010 (Canada NewsWire Group) -- \n\n#ReleaseContent TABLE\n{\n BORDER-COLLAPSE: collapse\n}\nTR.cnwUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px solid\n}\n#ReleaseContent TABLE.cnwBorderedTable TD\n{\n BORDER-RIGHT: black 1px solid;\n PADDING-RIGHT: 2px;\n BORDER-TOP: black 1px solid;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n BORDER-LEFT: black 1px solid;\n PADDING-TOP: 2px;\n BORDER-BOTTOM: black 1px solid;\n BORDER-COLLAPSE: collapse\n}\n#ReleaseContent TABLE TD\n{\n PADDING-RIGHT: 2px;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n PADDING-TOP: 2px\n}\n\n\nVANCOUVER, Nov. 15 /CNW/ - Burcon NutraScience Corporation (TSX - BU)\n ("Burcon") announced today that it has signed a non-binding letter of\n intent (the "Letter of Intent") with Archer Daniels Midland Company\n ("ADM") which details the intention of the two parties to enter into a\n license agreement pursuant to which Burcon will license (the "License")\n its CLARISOY® technology to ADM on an exclusive basis to produce, market and sell\n CLARISOY® soy protein isolates ("CLARISOY®" or the "Products") world-wide (the "Definitive Agreement").  \n\n\nThe Letter of Intent outlines the major agreed-upon terms for the\n proposed Definitive Agreement whereby Burcon will grant an exclusive,\n world-wide and royalty-bearing license to ADM for Burcon's CLARISOY® soy protein isolate technology.  The terms of the proposed License\n include:\n\n\n\nLicense to ADM of all intellectual property, including know-how and\n trade secrets, concerning the manufacture and use of CLARISOY®\n\n\nRoyalty stream payable to Burcon on a quarterly basis begins upon the\n signing of the Definitive Agreement\n\n\nEngineering and design of initial semi-works commercial CLARISOY® production plant to be completed by ADM concurrent with the completion\n of the Definitive Agreement.\n\n\nRoyalty structure incorporates financial incent...