TIDMEDEN
RNS Number : 7454X
Eden Research plc
23 December 2019
23 December 2019
Eden Research plc
("Eden" or "Company")
Distribution Agreements with Sipcam Oxon in Portugal and
Benelux
Eden Research plc (AIM: EDEN), the AIM listed company that
develops and supplies breakthrough biopesticide products and
natural microencapsulation technologies to the global crop
protection, animal health and consumer products industries, is
pleased to announce that it has signed an agreement ("Agreement")
with Sipcam Oxon ("Sipcam") which allows Sipcam to market,
distribute and sell, on an exclusive basis, Eden's fungicide
product, Mevaloneä, in Portugal and the Benelux region.
Agreement highights
-- Under the Agreement, Eden will supply and Sipcam will
distribute Mevalone for use as a fungicide for grapes and minor
crops in Portugal and the Benelux region (subject to regulatory
clearance in the Benelux region)
-- It is expected that sales of Mevalone will commence in
Portugal in the 2020 season (marketing authorisation has already
been received there)
-- Commercial activities will begin in the Benelux region
following the receipt of regulatory clearance in these
countries
Mevalone offers growers tremendous advantages by providing high
levels of efficacy against important crop diseases. The active
ingredients in Mevalone are exempt from residue limits and have
very low or no pre-harvest intervals, giving growers the ability to
apply the product just prior to harvest, providing maximum benefits
and flexibility.
Mevalone is formulated with Eden's Sustaineä encapsulation and
delivery technology, a proven formulation solution for active
ingredients that are challenging to use. Sustaine microcapsules are
naturally sourced, plastic-free, biodegradable micro-spheres
derived from yeast. The Sustaine technology has enabled the safe
and effective use of Eden's registered active ingredients and those
of third parties by improving bioactivity, controlling volatility
and improving crop safety.
Sean Smith, Chief Executive Officer of Eden, said: "We are
pleased to appoint Sipcam as our partner for Mevalone in Portugal
and the Benelux region. Portugal in particular is a significant
grape-growing country, and a key market for our product.
"Sipcam has excellent knowledge of Mevalone, having acted as our
commercial partner for the product in Italy and Spain. Sipcam
currently sells Mevalone under the brands 3logy(R) in Italy and
ARAW(R) in Spain, and their expertise in these countries is
directly transferrable to growers in Portugal and the Benelux
region.
"It is expected that sales of Mevalone will commence in Portugal
in the 2020 season, as marketing authorisation has already been
received there. This is, therefore, a meaningful improvement in our
commercial footprint. We are working with an established and
experienced commercial partner to accelerate market penetration.
Commercial activities will begin in the Benelux region following
the receipt of regulatory clearance in these countries."
Stefano Cartacci, Director of Sipcam Oxon in Europe, said "We
are pleased to extend to Sipcam Portugal and Sipcam BENELUX the
cooperation with Eden on such a high performing product, taking
advantage of the strong experience developed in Italy and Spain.
Growers' lives get more complicated each day due to the rise of new
pests and the reduction of effective solutions. Mevalone is a
perfect fit to our strategy of bringing innovative solutions to the
market, supporting growers in their modern challenges."
The information contained within this announcement (the
"Announcement") is deemed by the Company to constitute inside
information as stipulated under the Market Abuse Regulations (EU)
No. 596/2014. Upon the publication of this Announcement via
Regulatory Information Service, this inside information is now
considered to be in the public domain.
For further information contact:
Eden Research plc www.edenresearch.com
Sean Smith
Alex Abrey 01285 359 555
Cenkos Securities (Nominated advisor and
broker)
Giles Balleny / Cameron MacRitchie (corporate
finance)
Michael Johnson (sales) 020 7397 8900
Powerscourt (Financial PR)
Nick Dibden 020 7250 1446
Courtney Sanford eden@powerscourt-group.com
Notes:
Eden Research is an AIM listed company that develops and
supplies breakthrough biopesticide products and natural
microencapsulation technologies to the global crop protection,
animal health and consumer products industries
Eden's Sustaineä encapsulation technology harnesses the biocidal
efficacy of naturally occurring chemicals produced by plants
(terpenes) and can be used with both natural and synthetic
compounds to enhance their performance and ease-of-use.
Sustaine microcapsules are naturally derived, plastic-free,
biodegradable micro-spheres derived from yeast extract. They
produce stabilised aqueous suspensions which, are easy to mix and
apply, have phased release patterns, are safer for the environment
and the crops themselves.
The European Chemicals Agency (ECHA) has proposed an EU-wide
restriction on the placing on the market or use of
"intentionally-added" microplastic particles. The proposed
restriction includes the use of microplastics for agricultural and
horticultural purposes, including polymers utilized for
controlled-release fertilizers, encapsulated plant protection
products (PPPs), seed coatings, and biocides.
By 2025 in the EU, pesticides containing synthetic polymer
microplastics are likely to be banned and removed from the market.
The only acceptable alternative is the substitution with
biodegradable formulations. Reformulated products will need to be
evaluated and registered within the five-year transition
period.
Sustaine is one of the only viable, proven and immediately
registerable solutions to the microplastics problem in formulations
requiring encapsulation.
Historically, terpenes have had limited commercial use in the
agrochemical sector due to their volatility, phytotoxicity and poor
solubility. Sustaine provides a unique, environmentally friendly
solution to these problems and enables terpenes to be used as
effective, low-risk agrochemicals.
Eden 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 GBP14m 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, Mevalone, were approved as new ingredients for
use in plant protection products by the European Commission ("EC").
This represented 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 2013,
Eden's approvals represented 3 of only 10 new active ingredients
approved by the EC.
Mevaloneä is a foliar fungicide which has been authorised for
sale in Kenya, Malta, Greece, Bulgaria,
Spain, Italy, France, Cyprus, Albania, Portugal and
Macedonia.
Cedrozä is a nematicide which has been authorised for sale in
Malta, Belgium and Mexico.
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.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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