Vancouver, British Columbia--(Newsfile Corp. - January 24, 2020) - Burcon NutraScience Corporation (TSX: BU), a global technology leader in the development of plant-based proteins, is pleased to announce today that Burcon, Nestlé and Merit Functional Foods Corporation ("Merit") have entered into a joint development agreement to tailor Burcon and Merit's novel plant-based proteins for use in Nestlé food and beverage applications.
The joint agreement commences what is intended to be a long-term relationship among the parties covering ongoing innovation and the future supply of Burcon and Merit's novel plant-based proteins from the commercial-scale production facility, which Merit is currently building.
The collaboration brings together Burcon's proven capability in plant protein development with Nestle's expertise in the development, production and commercialization of plant-based foods and beverages and Merit's state-of-the-art protein production facility. The aim of the joint development is to tailor the functionality of Burcon and Merit's plant-proteins, to be supplied from Merit's production facility, for use by Nestlé in nutritious and great tasting plant-based meat and dairy alternatives.
"We are thrilled to be partnering with Nestlé, to customize our already exciting novel plant-based proteins," said Johann F. Tergesen, Burcon's president and chief executive officer, adding, "This collaboration among Burcon, Nestlé and Merit is about strategic innovation to deliver unique, sustainable, great tasting, and highly nutritious plant-based products."
"Partnering with Nestlé - a global leader in food and nutrition - is a major milestone for Merit Functional Foods," Merit Co-CEO Ryan Bracken said. "Merit has already demonstrated the value of our novel proteins in plant-based foods. This new partnership helps build on this, and it's a major step in developing the next generation of nutritious and delicious plant-based products that draw on the benefits of our novel proteins."
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About Merit Functional Foods Corporation
Established in 2019, Merit Functional Foods is committed to exceeding expectations for plant-based protein, providing the market with the highest quality protein ingredients and blends that offer unmatched purity, exceptional taste, and excellent solubility. Merit is building a state-of-the-art production facility in Winnipeg, where it will produce a portfolio of pea and canola protein ingredients with exceptional functional and nutritional values. For more information, visit .
About Burcon NutraScience Corporation
Burcon is a global technology leader in the development of plant-based proteins. With over 270 issued patents and more than 260 additional patent applications, developed over a span of more than twenty years, Burcon has grown an extensive portfolio of composition, application, and process patents covering novel plant-based proteins derived from pea, canola, soy, hemp, sunflower seed and more. In 2019, Merit Functional Foods Corporation was established in a joint venture by Burcon and three veteran food industry executives. Merit Foods is building a state-of-the-art protein production facility in Manitoba, Canada, where it will produce, under license, Burcon's novel pea and canola protein ingredients. For more information visit .
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 other than statements of historical fact included in this release are forward-looking statements, including, without limitation, statements regarding expectations, intentions and plans contained in this press release. 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 actual results of business negotiations, marketing activities, adverse general economic, market or business conditions, regulatory changes 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 dated July 2, 2019 filed with the Canadian securities administrators on . Any forward-looking statement or information only speaks 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 that 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.
Investor Contact:
Paul Lam
Manager, Business Development
Burcon NutraScience Corporation
Tel (604) 733-0896, Toll-free (888) 408-7960
Media Contact:
Steve Campbell, APR
President
Campbell & Company Public Relations
Tel (604) 888-5267
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