TIDMEDEN
RNS Number : 0012Y
Eden Research plc
10 May 2021
10 May 2021
Eden Research Plc
("Eden" or "Company")
Regulatory approval for Cedroz (TM) in Italy
Eden Research plc (AIM: EDEN), the AIM-quoted company focused on
sustainable biopesticides and plastic-free formulation technology
for use in global crop protection, animal health and consumer
products industries, announces that its commercial collaborator,
Eastman Chemical Company ("Eastman"), has received authorisation
for the sale of Cedroz(TM) in Italy.
The approval in Italy covers tomato, eggplant, pepper, chili,
pepino, cucumber, melon, courgette, pumpkin, and strawberries . The
announcement follows the emergency authorisation of Cedroz(TM) in
Italy in May 2020, to coincide with the growing season.
This is Eden's second product to be fully authorised in Italy
with Eden's bio-fungicide Mevalone(R) sold under the trade name
3LOGY(R) by Sipcam since 2016. Both Cedroz and Mevalone are based
on naturally-derived terpene active ingredientsand encapsulated by
Eden's patented Sustaine(R) technology.
Italy is the second largest producer of fruit and vegetables in
the EU, growing 10 million tonnes of fruit and around 7 million
tonnes of vegetables annually. In addition, it boasts 1.9 million
hectares of organic farming land in 2019, with demand for organic
food continuing to increase, making it a key market for Eden.
Cedroz has now been approved for use in four of the top five fruit
producing markets in the European Union, including Spain, Portugal,
Greece and now Italy
Cedroz is a bio-nematicide which utilises Eden's terpene
technology and controls root knot nematodes, a pest that causes
severe damage to crops, both in open field and greenhouse
situations, costing the global agriculture industry $80-100 billion
each year .
Due to shifting consumer expectations and tighter regulation
around traditional nematicides relied on by farmers across the
European Union including in Italy, there is a growing opportunity
for bio-nematicides, such as Cedroz, to take market share. Both
active ingredients used in Cedroz, geraniol and thymol, are
approved as organic inputs across the EU and are exempt from
maximum residue limits. As a result, Cedroz addresses consumer
demands for fewer synthetic chemical inputs and an absence of
pesticide residues in food. Cedroz will provide growers in Italy
with a more environmentally-friendly product and a much-needed
alternative to traditional nematicides, with reliable efficacy.
Sean Smith, Chief Executive Officer of Eden, commented: "Today's
authorisation represents an expansion of Eden's footprint in Italy,
one of Europe's most significant agricultural markets. Last year's
emergency authorisation of Cedroz in Italy highlighted the strong
need for a sustainable alternative for growers in the Italian
market and we are delighted that we have now gone one step further
to full authorisation. Cedroz has now been authorised in 9
countries and we look forward to continuing to work with our
partners, including Eastman to further expand its footprint in this
expanding gap in the market."
Guy Van Den Bossche, General Manager Crop Protection at Eastman,
commented: "The registration of Cedroz in Italy will strengthen our
Soil Care offer in one of the leading fruit and vegetable producing
countries in the EU. It fits very well with the Intregated Pest
Management approach that an increasing number of growers are
adopting in response to consumer expectations for residue free
crops."
For further information contact:
Eden Research plc www.edenresearch.com
Sean Smith
Alex Abrey 01285 359 555
Cenkos Securities plc (Nominated advisor
and broker)
Giles Balleny / Camilla Hume/ Mark Connelly
(corporate finance)
Michael Johnson (sales) 020 7397 8900
Hawthorn Advisors (Financial PR)
Victoria Ainsworth eden@hawthornadvisors.com
Johanna Pemberton
Notes:
About Eden Research
Eden Research is the only UK-listed company focused on
biopesticides for sustainable agriculture. It develops and supplies
innovative biopesticide products and natural microencapsulation
technologies to the global crop protection, animal health and
consumer products industries.
Eden's products are formulated with terpene active ingredients,
based on natural plant defence metabolites. To date, they have been
primarily used on high-value fruits and vegetables, improving crop
yields and marketability, with equal or better performance when
compared with conventional pesticides. Eden has two products
currently on the market:
Cedroz(TM) is a bionematicide that targets free living nematodes
which are parasitic worms that affect a wide range of high-value
fruit and vegetable crops globally. Cedroz is registered for sale
on two continents and Eden's commercial collaborator, Eastman
Chemical, is pursuing registration and commercialisation of this
important new product in numerous countries globally.
Mevalone(R) is a foliar biofungicide which initially targets a
key disease affecting grapes and other high-value fruit and
vegetable crops. It is approved for sale in a number of key
countries whilst Eden and its partners pursue regulatory clearance
in new territories thereby growing Eden's addressable market
globally.
Eden's products are delivered using patented Sustaine(R)
encapsulation technology, which 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. Sustaine is one of the only viable,
proven and immediately registerable solutions to the microplastics
problem in formulations requiring encapsulation.
Eden was admitted to trading on AIM on 11 May 2012 and trades
under the symbol EDEN. It was awarded the London Stock Exchange
Green Economy Mark in January 2021 , which recognises London-listed
companies that derive over 50% of their total annual revenue from
products and services that contribute to the global green economy.
Eden derives 100% of its total annual revenues from sustainable
products and services.
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.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
REAGZGGKLLGGMZM
(END) Dow Jones Newswires
May 10, 2021 02:00 ET (06:00 GMT)
Eden Research (AQSE:EDEN.GB)
Historical Stock Chart
From Jun 2024 to Jul 2024
Eden Research (AQSE:EDEN.GB)
Historical Stock Chart
From Jul 2023 to Jul 2024