Burcon Receives Notice of Allowance from the USPTO for a Key Peazazz Pea Protein Patent
Vancouver, British Columbia--(Newsfile Corp. - January 24, 2023) - 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 received a notice of allowance from the United States Patent and Trademark Office ("USPTO") for a patent application covering characteristics of Burcon's Peazazz® pea protein made by Burcon's unique process. A notice of allowance from the USPTO is a written notification that a patent application has cleared internal review, is pending issuance and will grant in the near future.
"Securing this patent has been a priority for Burcon and we are very pleased to receive this key pea protein patent allowance, which maintains, protects and ensures our pea protein licensee, Merit Functional Foods, with marketplace differentiation," said Kip Underwood, Burcon's chief executive officer, adding, "Merit's pea protein sales have been gaining traction among customers, this patent protection helps Merit continue to offer high quality and unparalleled pea protein ingredients for many years to come."
U.S. patent application 14/811,052, which covers valuable properties of pulse protein products made by Burcon's unique processes, including the high protein purity of Peazazz, was allowed on January 5, 2023. This patent allowance adds to Burcon's existing patent portfolio of 322 issued patents in various countries, including 72 issued U.S. patents, and in excess of 170 additional pending patent applications, 26 of which are U.S. patent applications. The patent allowance which is the subject of this news release will be issued as a granted U.S. patent in the near future.
About Burcon NutraScience Corporation
Burcon is a global technology leader in the development of plant-based proteins for foods and beverages. With over two decades of experience formulating high-purity proteins that have superior functionality, taste and nutrition, Burcon has amassed an extensive patent portfolio covering its novel plant-based proteins derived from pea, canola, soy, hemp and sunflower seeds, among other plant sources. In 2019, Merit Functional Foods Corporation ("Merit Foods") was established between Burcon and three veteran food industry executives. Merit Foods has since built and commissioned a state-of-the-art protein production facility in Manitoba, Canada that is producing, under license from Burcon, best-in-class pea and canola proteins for the food and beverage industries. Burcon currently holds a 31.6% shareholding interest in Merit Foods. For more information, visit www.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," "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, 2022 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
Director, Investor Relations
Burcon NutraScience Corporation
Tel (604) 733-0896, Toll-free (888) 408-7960
Steve Campbell, APR
Campbell & Company Public Relations
Tel (604) 888-5267
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/152241