Functional Technologies has extensive global intellectual property protection comprised, first and foremost, of exclusive licenses tied to the original university patents and patent applications. The company also has ongoing collaborative research agreements with a number of leading university research teams in the specialized field of wine, yeast and related proprietary technologies. Our management team has significant experience in biologics research, as well as processing and manufacturing know-how. Over time, our own research product pipeline with novel yeast and algae technologies will be brought into view.
Augmenting its in-house research and development, Functional Technologies has a close working relationship with The University of British Columbia and its Wine Research Centre (one of the world's most advanced wine research labs). This gives the company unlimited access to a top genomic research team and state-of-the-art facilities. Functional Technologies also has an excellent working relationship with the Department of Viticulture and Enology at The University of California at Davis. The various patent holders (UBC, The University of California at Davis, The University of Indiana and Indiana's Dr. Wagner) work closely with Functional Technologies, having granted exclusive licences to the company to commercialize their patented yeast and algae technologies.
The company protects its proprietary interests by actively managing the patent procurement process in partnership with its licensors. This has resulted in seven patents issued or approved in various countries covering the proprietary yeast compositions and technologies to degrade urea and reduce the formation of ethyl carbamate. In addition, 14 filed PCT and country patents applications are pending relating to technologies and yeast compositions to reduce the production of H2S in fermentation, as well as to degrade urea. In addition to the above-noted patents, the company's patent rights extend to one issued patent and three pending applications covering proprietary algae technology.
Due to the proprietary nature of the technology, the company has the ability to enforce its intellectual property rights. Patent protection also enables premium pricing for Functional Technologies' unique proprietary specialty yeast products and all future advances.