What's happening?
Burcon Files Application for Controlled Drugs and Substances License to Pursue the Purified Cannabinoids Market 02/05/2018
Vancouver, British Columbia, February 5, 2018 — Burcon NutraScience Corporation (TSX: BU, NASDAQ: BUR) (“Burcon” or the “Corporation”) a leader in natural product extraction, purification and isolation technologies, is pleased to announce its move into the nascent purified cannabinoids market. Burcon is a Canadian pioneer in the development of novel plant-sourced ingredients, with over eighteen years of expertise in nutritive and phytochemical extraction technologies, developing processes and products for use in global food, nutrition, wellness and supplement products.
Burcon has applied for accreditation from Health Canada’s Office of Controlled Substances to conduct research for the future commercial production of purified cannabinoid extracts. Burcon has submitted an application for a Controlled Drugs and Substances Dealers License to Health Canada and intends to also pursue partnering opportunities with growers and suppliers of hemp and cannabis input materials.
Burcon’s patent portfolio comprises 243 issued patents in various countries, including 65 in the U.S., as well as over 300 active patent applications, including 39 additional U.S. patent applications. The unifying characteristic of Burcon’s extraction processes, which makes them unique, is the adherence to largely gentle processing conditions. Burcon’s technologies seek to minimize the use of excessive pressure, high heat, or harsh chemicals. Burcon’s novel approach to natural product extraction technologies could be particularly valuable in light of the fact that, for medical purposes, raw cannabinoids (cannabinoids that have not been subjected to high heat) can have a higher efficacy in certain medicinal applications.
“Burcon’s strategy is to capitalize on our eighteen years of know-how in phytochemical extraction technologies, and our innovative team of scientists and chemical engineers at our Winnipeg technical center, to develop technologies for the production of highly-purified cannabis-derived compounds,” said Johann Tergesen, Burcon’s president and chief operating officer, adding, “We can bring to bear not only our experienced team of scientists and engineers, but also our broad intellectual property portfolio in natural plant-sourced extraction processes, and our 10,000 square foot research and production facility, outfitted with appropriately tailored analytical and functionality laboratories.”
Burcon was assisted in the licensing application process by certain third-party advisors and intends to engage an advisor or advisors to assist in arranging partnering discussions.