Successful Rights Offering
Burcon NutraScience completed a successful rights offering, raising $9.4 million to support strategic initiatives and build a strong financial position for future growth.
Launch of Innovative Products
Burcon launched two new products: a sunflower isolated protein, which is expected to disrupt the plant protein market, and the next-generation Peazazz Pea protein, which has generated significant market interest.
Strategic Partnership with ProMan
Burcon signed a binding turnkey agreement with ProMan to purchase a new production facility in the U.S., ensuring full control over production and enabling the launch of their entire product portfolio by mid-2025.
Strong Customer Pipeline
Burcon has over 100 product samples under evaluation and 17 expressions of interest from customers, indicating strong demand and potential for recurring revenue.
Collaboration with Puratos
Burcon is collaborating with Puratos to bring canola protein products to the baking industry, highlighting the potential for innovation and market expansion.
Path to Profitability
Burcon outlined a clear path to being cash flow positive by 2026, with expectations for ongoing margin expansion and growth through sales execution and technology licensing.