Eden Research Plc
("Eden" or "Company")
Extension of TerpeneTech licence agreement
Eden Research plc (AIM: EDEN), the AIM listed natural micro-encapsulation company, announces it has extended the scope of the existing licence agreement with TerpeneTech Ltd ("TerpeneTech") to include a wider range of biocide applications.
TerpeneTech has a licence agreement with Eden for the use of Eden's patented encapsulation technology, GO-E Inside™, in consumer and agro-industrial related biocides. Under the agreement Eden receives ongoing royalty income on the net sales of products once commercialised.
The extension of the agreement follows on from the commercial launch of two TerpeneTech pet odour neutralising products for companion animals in France. The products utilise Eden's encapsulation technology and marked the first ever commercial launch of products using Eden's intellectual property ("IP") and expertise in encapsulation. The extension of the agreement will allow TerpeneTech to launch a range of additional products using Eden's IP for agro-industrial use in ant, mite and insect control as well as consumer products that address outdoor insect control, odour neutralisation and carpet bugs.
Clive Newitt, Managing Director of Eden, said: "The extension of our original licence agreement signed in September 2011 opens up a much wider group of commercial products that will be launched using GO-E Inside™. This is an important step for the business as we work with our partners to launch a portfolio of products that will provide an on-going stream of royalty revenues for Eden. With two products already launched by TerpeneTech we are confident that these new products will move into commercialisation quickly."
Eden Research plc |
www.edenresearch.com |
Clive Newitt, Managing Director |
Tel: 01993 862 761 |
Alex Abrey, Chief Financial Officer |
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W H Ireland Limited |
Tel: 0117 945 3471 |
John Wakefield |
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Walbrook PR Ltd |
Tel: 020 7933 8780 or [email protected] |
Paul McManus |
Mob: 07980 541 893 |
Notes:
Eden is an early stage revenue company with intellectual property and expertise in encapsulation, terpenes and environmentally friendly technologies to provide naturally occurring solutions to the global agrochemicals industry, the animal health industry, and consumer products.
Eden's encapsulation technology harnesses the biocidal efficacy of naturally occurring chemicals produced by plants (terpenes) and can also be used with hydrophobic compounds both natural and synthetic. The technology uses yeast cells to deliver a slow release of natural compounds for agricultural and non-agricultural uses. Terpenes are already widely used in the food flavouring, cosmetic and pharmaceutical industries.
Historically, terpenes have had limited commercial use in the agrochemical sector due to their volatility, phytotoxicity and poor solubility. Eden's platform encapsulation technology provides a unique, environmentally friendly solution to these problems and enables terpenes to be used as effective, low-risk agrochemicals.
With leading consultants in their respective fields, the Company is developing these technologies through innovative research and a series of commercial production, marketing and distribution partnerships.
The Company has a number of patents and has a pipeline of products at differing stages of development targeting specific areas of the global agrochemicals industry. To date, the Company has invested in the region of £12m in developing and protecting its intellectual property. Revenues earned by the Company have been modest whilst the Company has concentrated on securing patent protection for its intellectual property, identifying suitable industrial partners and entering into licence agreements.
Eden was admitted to trading on AIM on 11 May 2012 and trades under the symbol EDEN.
For more information about Eden, please visit www.edenresearch.com
