Eden Research plc
("Eden" or "Company")
Further progress with EU product approvals
Eden Research plc (AIM: EDEN), the AIM-listed company that provides breakthrough natural microencapsulation technologies to the global agrochemicals, animal health and consumer products industries, announces that its first agrochemical product, 3AEY, a fungicide that primarily targets botrytis on grapes, has been approved for commercial sale and use in Bulgaria. Bulgaria is in the top 20 wine producing countries globally, and wine grapes make up the vast majority of Bulgarian production.
As part of the regulatory process in the EU, several years' worth of product efficacy trials were conducted in order to generate the data required to support the label claims of botrytis prevention and control in table and wine grapes. As well as proving disease control, other studies such as taint and vinification have also been conducted to prove the product has no negative quality effects on table grapes or when used to produce wine. Eden's 3AEY is considered by the regulatory authority to give a similar level of control to existing commercial chemical fungicides. Furthermore, the active ingredients for Eden's product have been granted an exemption from maximum residue levels in the EU thereby giving growers maximum flexibility in their crop protection programmes.
3AEY was granted authorisation by the zonal Rapporteur Member State, Malta, in May 2015 for the prevention and cure of botrytis in table and wine grapes. This was followed by authorisation in Greece in September 2015. These authorisations pave the way for commercialisation in each country. Eden's commercialisation partners such as Redestos, Sipcam and Sumi Agro France are now preparing for product launches following authorisation.
Eden's Chief Executive, Sean Smith, commented: "Authorisation of 3AEY in Bulgaria is an important additional milestone for Eden and its regional commercialisation partner, Redestos. This is now the third of seven countries in the Southern EU zone to grant its approval for the sale and use of our first product. Though outside of our control, we continue to anticipate authorisation in the remaining member states in due course, and in time for this year's growing season. Our partners are already preparing for official commercial product launches in 2016 across the region."
Enquiries:
Eden Research plc |
www.edenresearch.com |
Sean Smith, Chief Executive Officer |
Tel: 01285 359 555 |
Alex Abrey, Chief Financial Officer |
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Shore Capital Stephane Auton / Patrick Castle |
Tel: 020 7408 4090 |
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Walbrook PR Ltd |
Tel: 020 7933 8780 or [email protected] |
Lianne Cawthorne |
Mob: 07584 391 303 |
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
