Burcon Adds Patents, Optimizes Patent Portfolio to Drive Innovation and Efficiency
Strategically Reduced Patent Expenses by 62% in the Last 12 Months
Vancouver, British Columbia--(Newsfile Corp. - January 17, 2024) - Burcon NutraScience Corporation (TSX: BU) ("Burcon" or the "Company"), a global technology leader in the development of plant-based proteins for foods and beverages, is pleased to announce that it has strategically bolstered its patent portfolio with new protein technologies. In addition, through optimization of its intellectual property portfolio, patent expenses have reduced by 62% over the past 12 months, as compared to a year ago. This development reflects the company's commitment to diligent cash management and a focus on commercializing its next generation of plant-based protein technologies.
As part of this strategic initiative, Burcon continues to add patents for its new-to-the-world protein technologies, while simultaneously, eliminating patents that have limited commercial value. By streamlining the patent portfolio, Burcon is positioning itself for increased innovation, agility, and competitive advantage in the fast-growing plant-based protein industry.
"We are dedicated to staying at the forefront of protein processing technologies and ensuring that our intellectual property aligns with our Burcon 2.0 strategic goals," said Kip Underwood, Burcon's chief executive officer. "This patent optimization effort reflects our commitment to efficiency, innovation, and value creation for our shareholders."
Burcon is actively expanding its portfolio for its hemp and sunflower technologies, recognizing their growing significance in the plant-based protein market. Based on market data and internal estimates, there is a multi-billion dollar addressable market for high purity hempseed and sunflower proteins with a potential commercial opportunity that could exceed $500 million for Burcon. Concurrent with commercial plans, the Company continues to bolster its portfolio of novel ingredients and protect its new inventions by filing additional patent applications.
About Burcon NutraScience Corporation
Burcon is a global technology leader in the development of plant-based proteins for foods and beverages. Our proteins exhibit superior functionality, taste and nutrition, making them ideal ingredients for food formulators. With over two decades of experience, Burcon has amassed an extensive patent portfolio covering its specialty plant-based proteins derived from pea, canola, soy, hemp and sunflower seeds, among other plant sources. Burcon is striving to become a vertically integrated provider of specialty plant-based protein solutions that delivers on health, nutrition and sustainability. Supporting the growing trend towards a plant-based diet, Burcon is developing premium protein ingredients that we believe are better for you and better for the planet. For more information, visit burcon.ca.
Forward-Looking Information Cautionary Statement
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 or forward-looking information within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 and applicable Canadian securities legislation. Forward-looking statements or forward-looking information involve risks, uncertainties and other factors that could cause actual results, performances, prospects and opportunities to differ materially from those expressed or implied by such forward-looking statements. Forward-looking statements or forward-looking information can be identified by words such as "anticipate," "aim", "intend," "plan," "goal," "project," "estimate," "expect," "believe," "future," "likely," "may," "should," "could," "will" and similar references to future periods. All statements included in this release, other than statements of historical fact, are forward-looking statements. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements or information. Important factors that could cause actual results to differ materially from Burcon's plans and expectations include the implementation of our business model and growth strategies; trends and competition in our industry our future business development, financial condition and results of operations and our ability to obtain financing cost-effectively; potential changes of government regulations; and other risks and factors detailed herein and from time to time in the filings made by Burcon with securities regulators and stock exchanges, including in the section entitled "Risk Factors" in Burcon's annual information form for the year ended March 31, 2023 and its other public filings with Canadian securities regulators on SEDAR at www.sedar.com. This list is not exhaustive of the factors that may affect any of the Company's forward-looking statements or information. Any forward-looking statement or information speaks only as of the date on which it was made, and, except as may be required by applicable securities laws, Burcon disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise. Although Burcon believes the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance, and, accordingly, investors should not rely on such statements.
Industry and Investor Contact
Paul Lam
Director, Investor Relations and Communications
Burcon NutraScience Corporation
Tel (604) 733-0896, Toll-free (888) 408-7960
plam@burcon.ca www.burcon.ca
Media Contact:
Steve Campbell, APR
President
Campbell & Company Public Relations
Tel (604) 888-5267
TECH@CCOM-PR.COM
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