TIDMEDEN
RNS Number : 1726X
Eden Research plc
26 April 2019
26 April 2019
Eden Research plc
("Eden" or "Company")
Italy grants "emergency use" authorisation for Cedroz to meet
grower demands
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 a 120 day "emergency use"
authorisation for Eden's nematicide formulation, marketed as
Cedroz(TM) by Eastman, from the Italian Ministry of Agriculture.
Such "emergency" authorisations are allowed by EU member states
when local regulatory authorities judge that they are needed in the
local market in order to meet the requirements of growers in the
absence of suitable commercially-available alternatives. During
this period, Italy and other member states will continue to process
Eastman's request for the authorised use and sale of Cedroz
following Malta's earlier authorisation.
Cedroz is an innovative and sustainable solution designed to
fight plant parasitic nematodes, pests that are known to cause
severe damage to crops globally in both open field and greenhouse
horticulture, resulting in significant yield losses and increasing
growers' costs.
In line with consumer demand and a policy push for products that
support sustainable agriculture with greatly reduced or no
pesticide residues, Cedroz is an attractive alternative for farmers
looking to fight plant parasitic nematodes in a safer and more
sustainable way. Unlike many other products, Cedroz will have no
set maximum residue level and a zero-day pre-harvest interval,
thereby allowing applications right up to harvest, when
required.
As previously announced, Malta has recently authorised the use
of Cedroz on a wide range of crops, including cucumbers,
courgettes, melons, aubergine, peppers, tomatoes and strawberries
marking the initial authorisation for Cedroz in the EU. 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 and patent protection
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 and increasing demand for biopesticides as
alternatives to conventional pesticide treatments due to their
health and environmental safety profiles. We are looking forward to
working with Eastman to capitalise on this growing demand and
helping them to launch Cedroz in a number of new territories,
including the UK.
"The Italian market represents a significant opportunity for
Cedroz and, as such, it is great to see the regulatory authorities
respond positively by granting this emergency authorisation. This
also verifies that there is a limited number of alternative
products available to tackle nematodes in the Italian market and
consequently growers need new tools to help control this damaging
pest on a range of important high value crops."
Guy Van Den Bossche, General Manager Crop Protection at Eastman,
said: "This 120 day "emergency use" authorisation is a great early
opportunity that allows growers to upscale Cedroz in real growing
conditions and confirm the numerous successful trials done during
the development of the product in Italy as a bigger market looking
for alternative sustainable solutions to cope with the growing
nematode issue."
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
MSCDMGZDZKNGLZZ
(END) Dow Jones Newswires
April 26, 2019 02:01 ET (06:01 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