Today's News |
Burcon Adds Patents, Optimizes Patent Portfolio to Drive Innovation and Efficiency
Wednesday, January 24, 2024Company Profile | Follow Company
Vancouver, BC, January 24, 2024--(T-Net)--Burcon NutraScience Corporation (TSX: BU), a global technology leader in the development of plant-based proteins for foods and beverages, announced 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, according to the company.
The company said in a release that it is commited to diligent cash management and a focus on commercializing its next generation of plant-based protein technologies.
As part of this strategic initiative, Burcon says it 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 says it 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 says it 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.
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. [ MORE ] |
Company Snapshot |
||
Burcon NutraScience Corporation
Vancouver (Biotech/Life Sciences)
|
Other Recent Company News |
|||||||||||||||||||
|