TIDMEDEN
RNS Number : 5325Q
Eden Research plc
20 February 2019
20 February 2019
Eden Research plc
("Eden" or "Company")
EU Product Authorisation - Cedroz
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 its commercial partner, Eastman Chemical
Company ("Eastman"), has received authorisation for Eden's
nematicide formulation, marketed as Cedroz by Eastman, from the
Regulatory Affairs Directorate in Malta. Malta is acting as the
zonal rapporteur Member State for the Southern EU agricultural zone
and on behalf of a number of EU countries for indoor uses.
Cedroz is an innovative and natural solution designed to fight
nematodes, a species that is known to cause severe damage to crops
globally for both open field and greenhouse growers, resulting in
yield losses and increasing farmers costs. Malta has authorised the
use of Cedroz on a wide range of crops, including cucumbers,
courgettes, melons, aubergine, peppers, tomatoes and
strawberries.
In line with consumer demand and a regulatory push for "safer"
products, Cedroz is an attractive alternative for farmers looking
to fight nematodes in an environmentally friendly way. Unlike many
other products, Cedroz will have zero residues and a zero-day
pre-harvest interval, thereby allowing applications right up to
harvest, if required.
Following the authorisation by Malta, the concerned Member
States ("cMS") must grant their individual approvals for the sale
and use of Cedroz within their jurisdictions. The pending approvals
will cover Spain and Italy, for outdoor uses and will also cover
France, Belgium, the Netherlands and the United Kingdom, as well as
Spain and Italy, for professional greenhouse uses. Once approved,
Cedroz will be the first of Eden's formulations to be sold and used
in the United Kingdom, where the company is headquartered.
Sean Smith, Chief Executive Officer of Eden, said: "Following
Eden's initial investment in the formulation of this important
product , Eastman has invested significant resource over the past
three years in the further development of Cedroz, and it is
pleasing to see our collective efforts coming to fruition.
"Traditional crop protection products are increasingly coming
under threat from global regulatory pressures , based upon the
potential impact these products may have on the environment. There
is significant demand for biopesticides as an alternative measure,
due to its safe nature and the absence of pesticide residue and we
are looking forward to working with Eastman to capitalise on this
growing demand and helping them to launch the product in a number
of new territories, including the UK.
"The UK imported GBP5.4bn worth of its fruit and vegetables in
the first six months of 2018 and has a heavy reliance on the EU for
produce. Almost a fifth (19%) of imports come from Spain, and 11%
from the Netherlands. Within the UK, the application of Cedroz
would help to increase the yield of home-grown products, such as
cucumbers and tomatoes, for every day produce."
Guy Van Den Bossche, General Manager Crop Protection at Eastman,
said: "This authorisation by Malta is a great achievement for the
commercial development of Cedroz. We gained strong interest in the
product from farmers, following successful trials, and are
confident that Cedroz will now prove itself in field and greenhouse
both as a standalone solution to the problem of root-knot nematodes
and as part of integrated pest management programs for the approved
geographies and crops."
For further information contact:
Eden Research plc www.edenresearch.com
Sean Smith
Alex Abrey 01285 359 555
Shore Capital (Nomad) 020 7408 4090
Stephane Auton / Patrick Castle
Powerscourt (Financial PR) 020 7250 1446
Nick Dibden eden@powerscourt-group.com
Jana Tsiligiannis
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.
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 GBP13m 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. 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 all of 2013, Eden's approvals
represented 3 of only 10 new active ingredients approved by the
EC.
Mevalone has been authorised for sale in Kenya, Malta, Greece,
Bulgaria, Spain, Italy, France, Cyprus, Albania and Portugal.
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
MSCTLMRTMBJBBPL
(END) Dow Jones Newswires
February 20, 2019 02:00 ET (07:00 GMT)
Eden Research (LSE:EDEN)
Historical Stock Chart
From Apr 2024 to May 2024
Eden Research (LSE:EDEN)
Historical Stock Chart
From May 2023 to May 2024