Business
Burcon Reports Fiscal 2022 First Quarter Results
Vancouver, British Columbia--(Newsfile Corp. - August 16, 2021) - Burcon NutraScience Corporat...
About this update from Burcon Nutrascience Corporation
[{"type":"text","content":"Burcon Reports Fiscal 2022 First Quarter ResultsVancouver, British Columbia--(Newsfile Corp. - August 16, 2021) - Burcon NutraScience Corporation (TSX: BU) (NASDAQ: BRCN) (\"Burcon or the \"Company\"), a global technology leader in the development of clean-label, plant-based proteins for foods and beverages, reported results for the fiscal first quarter ended June 30, 2021.Operational highlights for the first quarter ended June 30, 2021:During the quarter, Burcon:recorded its first royalty revenues from Merit Foods;was approved for a dual listing on the NASDAQ stock exchange, with its shares now trading on The NASDAQ Capital Market as well as the Toronto Stock Exchange;continued to advance discussions and negotiations with a number of potential partners on opportunities to commercialize Burcon's innovative plant-based protein technologies through one or more joint ventures and/or collaboration agreements;continued to work with a third-party engineering firm to identify and build-out a suitable location in Winnipeg for a new and expanded innovation centre; andreceived two U.S. patents covering the company's novel process for the extraction and purification of pea and canola protein ingredients and the pea proteins produced therefrom. The company's IP portfolio now consists of 296 issued patents in various countries, with 73 in the U.S., as well as more than 210 active patent applications, including 34 in the U.S. During the quarter, Merit Foods:completed the first end-to-end production runs of its novel lineup of Puratein® canola proteins at its just completed protein production facility, making it the first and only commercial-scale facility in the world capable of producing food-grade protein from canola, the world's second-largest oilseed crop;began to fulfill commercial sales orders of its pea and canola protein ingredients; andreceived a second co-investment from Protein Industries Canada, providing funds to develop new plant-based food and nutrition products using Merit's pea and canola protein ingredientsSubsequent to the quarter-end:Burcon announced the appointment of Jeanne McCaherty to its board of directors on July 8, 2021.Management Commentary\"Burcon's fiscal 2022 first quarter got off to a great start with Merit Functional Foods achieving the first commercial \"end-to-end\" production runs of its novel lineup o...