Burcon will license its Clarisoy technology to ADM on an exclusive basis to produce, market and sell Clarisoy soy protein isolates worldwide.
The Letter of Intent outlines the major agreed-upon terms for the proposed Definitive Agreement, whereby Burcon will grant an exclusive, worldwide and royalty-bearing licence to ADM for Burcon’s Clarisoy soy protein isolate technology. The terms of the proposed licence include:
Concurrent with and forming part of the Letter of Intent, Burcon has also agreed to enter into a stand-still/no-shop agreement with ADM while the two parties negotiate and execute the Definitive Agreement for the Clarisoy licence.
Source: Burcon NutraScience
© FoodBev Media Ltd 2024