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Burcon Updates on MTA's
Vancouver, Canada, November 7 (ots/PRNewswire) - Burcon NutraScience Corporation (TSX-V: BU) announced today that it has recently entered into a number of additional three-way material transfer agreements ("MTA's") enabling the provision of samples of Burcon's proteins, Puratein(R) and Supertein(TM), to third parties for testing while protecting certain intellectual property interests of all of the parties involved. The recipients of the protein samples include certain globally recognized food and beverage companies as well as companies involved in the fields of consumer nutritional products and medical nutrition products.
The economic value of protein ingredients derives from two major attributes: function and nutrition. Functionally, Burcon's Puratein(R) and Supertein(TM) demonstrate potential to replace egg, dairy and other proteins in a number of broad applications such as emulsifying, gelling, and binding. Additionally, Supertein's unique solubility profile suggests potential for its use in beverages - particularly low pH beverages - where traditional protein ingredients experience challenges. Nutritionally, Burcon's proteins also exhibit exciting potential for use in nutritional supplements, sports beverages and medical nutrition products.
The purpose of the MTA's which are the subject of this announcement and the MTA's previously announced, is to provide samples of Burcon's proteins to the major potential end users in order that they may test the proteins in food matrices, beverages, nutritional products etc.
As previously reported, material transfer agreements are contracts that govern the transfer of tangible research materials between two or more organizations, when the recipient intends to use the materials for its own research purposes. The MTA's that are the subject of this announcement are three-way contracts among Burcon, Archer Daniels Midland ("ADM") and certain major food and beverage companies. These MTA's define the rights and obligations of Burcon and ADM, but just as importantly they define the rights and obligations of the food and beverage companies who are the recipient with respect to the proteins and any derivatives thereof. The rights defined include intellectual property issues, confidentiality terms and matters governing the publication of findings.
"We have continued to focus our efforts on getting Puratein(R) and Supertein(TM) into the new product innovation centers of the major food and beverage companies so that they can test-drive them in their products," stated Johann F. Tergesen, Burcon's President & COO, who added, "We look forward to working with these potential partners in creating opportunities and applications for our proteins."
Discussions among Burcon, ADM and food and beverage companies are ongoing and it is anticipated that additional three-way MTA's will be entered into in the future.
About Burcon NutraScience
Burcon is a research and development company developing a portfolio of composition, application, and process patents around its plant protein extraction and purification technology. The goal of Burcon's research is to develop its patented process to utilize inexpensive oilseed meals for the production of purified plant proteins that exhibit valuable nutritional, functional or nutraceutical profiles. Burcon, in conjunction with Archer Daniels Midland, is currently focusing its efforts on developing the world's first commercial canola proteins, Puratein(R) and Supertein(TM). Canola, recognized for its nutritional qualities, is the second-largest oilseed crop in the world after soybeans. Burcon's goal is to develop Puratein and Supertein to participate with soy, dairy, and egg proteins in the expanding multi-billion-dollar protein ingredient market, with potential uses in prepared foods, nutritional supplements, and personal care products.
The TSX Venture Exchange 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.
ots Originaltext: Burcon NutraScience Corporation
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