This announcement contains information which, prior to its disclosure, was considered inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 (MAR).
Eden Research Plc
("Eden" or "Company")
Extension of patent protection in Greece
Eden Research plc (AIM: EDEN), the AIM-listed company that provides breakthrough natural bio-control products and microencapsulation technologies to the global agrochemicals, animal health and consumer products industries, announces that is has received a Supplementary Protection Certificate from the Patent Office in Greece for its 3AEY plant protection product.
A Supplementary Protection Certificate extends the duration of a patent in relation to a specific product. In Eden's case, this means a five-year extension to the patent protection for Eden's fungicide product, 3AEY, which has now been extended in Greece until May 2030. 3AEY is protected under Patent No. 3082101, entitled: "Compositions containing a hollow glucan particle or a cell wall particle encapsulating a terpene component, methods of making and using them."
Eden supplies 3AEY to its partner in Greece, K&N Efthymiadis, who then distributes the product (marketed as 'Mevalone') to its customers. 3AEY is also marketed in Italy as '3logy', in Spain as 'ARAW', in Kenya as 'Hawk' and will be sold in France from this year as 'Mevalone'.
Sean Smith, Chief Executive Officer of Eden, said: "Intellectual property is a critical element for Eden's success and value creation. A five-year extension for the patent which covers our first product is valuable to both us and our partners.
"This is the first of several applications for Supplementary Protection Certificates in key territories. As part of the Company's ongoing intellectual property lifecycle management, we are pursing the extension of patented rights in key markets globally."
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 and Corporate Limited |
www.shorecap.com |
Stephane Auton/Patrick Castle |
Tel: 020 7408 4090 |
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Walbrook PR Ltd |
Tel: 020 7933 8780 or [email protected] |
Paul McManus |
Mob: 07980 541 893 |
Lianne Cawthorne |
Mob: 07584 391 303 |
Notes:
Eden Research is a technology development and commercialisation company with intellectual property and expertise in encapsulation, terpenes and environmentally friendly technologies to provide naturally occurring solutions for the global agrochemicals, animal health, and consumer product industries.
Eden's encapsulation technology harnesses the biocidal efficacy of naturally occurring chemicals produced by plants (terpenes) and can also be used with both natural and synthetic compounds to enhance their performance and ease-of-use. The technology uses yeast cells that are a by-product of numerous commercial production processes to deliver a slow release of natural compounds for agricultural and non-agricultural uses. Terpenes are already widely used in the food flavouring, cosmetics 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 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 and seeking regulatory approval for products that rely upon the Company's technologies. Revenues earned by the Company have been modest whilst the Company has concentrated on securing patent protection for its intellectual property, gaining regulatory approvals, identifying suitable industrial partners, and entering into commercial agreements.
In May 2013, the three actives that comprise Eden's first commercial product, 3AEY, were approved as new ingredients for use in plant protection products. This represents a major milestone in the commercialisation of Eden's technology and is a significant accomplishment for any company. To illustrate this point, one should note that in all of 2013, Eden's approvals represented 3 of only 10 new active ingredients approved by the EC.
3AEY has been authorised for sale in Kenya, Malta, Greece, Bulgaria, Spain, Italy and France.
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
