ADM announces intention to expand to full-commercial scale production of Clarisoy soy protein, says Burcon NutraScience
VANCOUVER, British Columbia
March 6, 2014
– Burcon NutraScience Corporation (TSX:BU) (Nasdaq:BUR), a leader in functional, renewable plant proteins, is pleased to announce that it has received written notice from Archer Daniels Midland Company ("ADM") that ADM intends to expand to full-commercial scale production of CLARISOY™ soy protein.
ADM's intention to expand commercial production of CLARISOY™ ensures that its production capability meets the required obligations under the existing License & Production Agreement to retain its exclusive license for CLARISOY™. To protect the parties' competitive interests, Burcon and ADM have agreed to not disclose the planned production capacity of the expansion.
"ADM and Burcon have contributed considerable resources and valuable efforts to bring CLARISOY soy protein to the global food and beverage market. ADM's notice of its intention to expand to full-commercial-scale production of CLARISOY marks a defining step for Burcon and for this revolutionary protein," said Johann Tergesen, Burcon's president and chief operating officer. "We are delighted with the progress made by ADM since March 2011 in building a solid foundation for the future and continued growth of CLARISOY."
ADM and Burcon first teamed to commercialize CLARISOY in 2010, and the first products reached the market in June 2012, winning numerous product-innovation awards. The CLARISOY portfolio, marketed by ADM's Foods & Wellness group, is based on a patented process developed by Burcon that offers a highly soluble and versatile protein ingredient that, due to its clean flavor profile, can be incorporated into a diverse range of products such as sports drinks, fruits and vegetable juices, or to replace dairy proteins.
About Burcon NutraScience Corporation
Burcon NutraScience is a leader in developing functionally and nutritionally valuable plant-based proteins. The company has developed a portfolio of composition, application, and process patents originating from a core protein extraction and purification technology. Burcon's CLARISOY™ soy protein offers clarity and high-quality protein nutrition for low-pH beverage systems and excellent solubility and exceptionally clean flavor at any pH; Peazazz® is a uniquely soluble and clean-tasting pea protein; and Puratein®, Supertein™ and Nutratein® are canola protein isolates with unique functional and nutritional attributes. For more information about the company, visit www.burcon.ca.