VANCOUVER, Aug. 2 /PRNewswire-FirstCall/ -- Burcon NutraScience Corporation (TSX-V: BU) announces today that it has entered into material transfer agreements with some of the world's foremost food and beverage companies. The material transfer agreements will enable Burcon to provide samples of Burcon's proteins; Puratein(R) and Supertein(TM) to food and beverage companies for testing while protecting certain intellectual property interests of all of the parties involved.
Material transfer agreements ("MTA's") 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.
"Burcon is excited about having samples of its proteins analyzed by the scientists and other professionals at these major food and beverage companies," stated Johann F. Tergesen, Burcon's President & COO who added, "We view this as an important step in the commercialization of Puratein(R) and Supertein(TM)."
Discussions among Burcon, ADM and additional food and beverage companies are ongoing and it is anticipated that further 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.
ON BEHALF OF THE BOARD OF DIRECTORS
"Johann F. Tergesen"
Johann F. Tergesen
President & Chief Operating Officer
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.
CONTACT: Jade Cheng, Chief Financial Officer, Burcon NutraScience Corporation, (604) 733-0896, (888) 408-7960 toll-free,
