DGAP-News: Burcon NutraScience Corp.: BURCON UPDATES ON CANOLA
(firmenpresse) - DGAP-News: Burcon NutraScience Corp. / Key word(s): Miscellaneous
Burcon NutraScience Corp.: BURCON UPDATES ON CANOLA
24.02.2012 / 10:45
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BURCON UPDATES ON CANOLA
Vancouver, British Columbia, February 23, 2012- Burcon NutraScience
Corporation (TSX - BU; NASDAQ - BUR) ('Burcon') reports today that further
to its announcements of November 15, 2010 and March 4, 2011, regarding the
License and Development Agreement dated September 23, 2003 made among
Burcon, Burcon NutraScience (MB) Corp. and Archer Daniels Midland Company
('ADM'), Burcon expects the agreement will terminate on March 1, 2012.
In March 2011, Burcon and ADM had agreed to an amendment of the license and
development agreement to provide for a one-year extension to March 1, 2012.
Burcon does not anticipate the two parties will reach a new agreement
before that date and therefore expects the agreement will terminate on
March 1, 2012. As such, Burcon will be free to choose alternative paths
for the commercialization of its technology for the production of its
canola proteins: Puratein(R), Supertein(TM) and Nutratein(TM).
Burcon is working with potential customers to establish the commercial
value of all three of its canola proteins: Puratein(R), Supertein(TM) and
Nutratein(TM). In the case of Puratein(R) and Supertein(TM), Burcon
continues to work with food and beverage manufacturers to establish the
value of Burcon's proteins in their products and within the last quarter
has executed material transfer agreements with certain major companies. In
the case of Nutratein(TM), Burcon is pursuing an animal nutrition
application with a leading animal feed company with the intention to use
Nutratein(TM) to replace or partially replace dairy protein in certain
high-value animal feed applications.
'Our unchanging goal is to commercialize all of our novel protein
technologies and that includes our canola proteins. We view our
technologies through the filter of their potential as measured in terms of
present value. Viewed through that filter, Burcon's Peazazz(TM) pea
protein and our canola proteins are our next biggest opportunities.' said
Johann F. Tergesen, President and Chief Operating Officer.
About Burcon NutraScience
Burcon is a leader in nutrition, health and wellness in the field of
functional, renewable plant proteins. Since 1999, Burcon has developed a
portfolio of composition, application, and process patents originating from
our core protein extraction and purification technology. We have developed
CLARISOY(TM) soy protein, the only vegetable-based protein that offers
clarity and complete protein nutrition for low pH beverage systems;
Peazazz(TM) a uniquely soluble and clean-tasting pea protein isolate and
Puratein(R), Supertein(TM) and Nutratein(TM) canola protein isolates with
unique functional and nutritional attributes. Our team of highly
specialized scientists and engineers work from our private research
facility to develop and optimize environmentally sound technologies.
To-date, our patent portfolio consists of 179 issued patents in various
countries, including 31 issued U.S. patents, and in excess of 350
additional pending patent applications, 68 of which are U.S. patent
applications.
CLARISOY(TM) is under license from Archer Daniels Midland Company.
CLARISOY(TM) is a trademark of Archer Daniels Midland Company.
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ON BEHALF OF THE BOARD OF DIRECTORS
'Johann F. Tergesen'
Johann F. Tergesen
President and Chief Operating Officer
The 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 that involve risks and uncertainties. These forward-looking
statements relate to, among other things, plans and timing for the
introduction or enhancement of our products, statements about future market
conditions, supply and demand conditions, and other expectations,
intentions and plans contained in this press release that are not
historical fact. Our expectations regarding the prospect for future success
depend upon our ability to develop and sell products, which we do not
produce today and cannot be sold without further research and development.
When used in this press release, the words 'goal', 'intend', 'believes' and
'potential' and similar expressions, generally identify forward-looking
statements. These statements reflect our current expectations. They are
subject to a number of risks and uncertainties. In light of the many risks
and uncertainties surrounding the development of a source of protein from
canola meal, you should understand that we cannot assure you that the
forward looking statements contained in this press release will be
realized.
For more information, please contact:
Jade Cheng, Chief Financial Officer
Burcon NutraScience Corporation
(604) 733-0896 / (888) 408-7960 toll-free
jcheng(at)burcon.ca www.burcon.ca
End of Corporate News
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