Burcon and ADM Enter into Clarisoy Letter of Intent

The Letter of Intent outlines the major agreed-upon terms for the proposed Definitive Agreement whereby Burcon will grant an exclusive, world-wide and royalty-bearing license to ADM for Burcon’s CLARISOY soy protein isolate technology.

16 Nov 2010 --- Burcon NutraScience Corporation announced that it has signed a non-binding letter of intent (the "Letter of Intent") with Archer Daniels Midland Company ("ADM") which details the intention of the two parties to enter into a license agreement pursuant to which Burcon will license (the "License") its CLARISOY technology to ADM on an exclusive basis to produce, market and sell CLARISOY soy protein isolates ("CLARISOY" or the "Products") world-wide (the "Definitive Agreement").

The Letter of Intent outlines the major agreed-upon terms for the proposed Definitive Agreement whereby Burcon will grant an exclusive, world-wide and royalty-bearing license to ADM for Burcon’s CLARISOY soy protein isolate technology. The terms of the proposed License include:

• License to ADM of all intellectual property, including know-how and trade secrets, concerning the manufacture and use of CLARISOY

• Royalty stream payable to Burcon on a quarterly basis begins upon the signing of the Definitive Agreement

• Engineering and design of initial semi-works commercial CLARISOY production plant to be completed by ADM concurrent with the completion of the Definitive Agreement.

• Royalty structure incorporates financial incentive for ADM to expand sales globally

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 License.