TIDMEDEN
RNS Number : 7788U
Eden Research plc
23 January 2017
Eden Research Plc
("Eden" or "Company")
Fungicide product approved for sale in France
Environmentally friendly product to combat botrytis (grape
rot)
in one of the world's largest wine producing nations
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 authorisation in France for its first product, 3AEY, for
use in the prevention and treatment of botrytis in table and wine
grapes. 3AEY will be sold in France by Eden partner SumiAgro France
under the brand name "Mevalone(TM)".
This is a significant and long-awaited milestone for the Company
and will allow SumiAgro France to sell Mevalone to its established
customers. Mevalone is a terpene-based fungicide that can prevent
and treat botrytis, a widespread fungal disease that causes grey
mould on many fruits and vegetables leading to the rapid loss of
commercially valuable crops. The average losses from affected crops
account for around 20% of the total harvest, costing producers
between EUR10-100 billion annually worldwide, depending upon
weather conditions. The market for Botryticides alone is more than
$350 million per annum.
Sean Smith, Chief Executive Officer of Eden, said: "France is
one of the leading wine producers in the world and is certainly one
of the most prestigious, not only because of the quantity of wine
produced but also the intense focus upon quality production. We are
delighted that Mevalone is registered and available for sale in
2017 in this important market. Since we signed the agreement with
SumiAgro in late 2014, there has been a lot of work by both parties
to ensure that we could achieve this key product registration as
quickly as possible, and we are pleased to have realised this
ambition with the strong support of SumiAgro France.
"Following marketing trials undertaken in 2015 and 2016,
Mevalone has been well received by customers throughout the EU
southern zone. The unique characteristics that Mevalone has in
terms of its safety and environmental profile, efficacy and
exemption from Maximum Residue Limits make it an interesting and
useful product for growers. This is particularly relevant in the
late stages of the growing season when botrytis can be prevalent
and where many alternative products cannot be used due to residue
issues, leaving growers with few options in the last few weeks
before harvest due to the long pre-harvest intervals associated
with many competing fungicides. Mevalone is also an extremely
useful tool in managing the resistance of pests to many common
conventional fungicides."
Antoine Meyer, President of SumiAgro France, said: "We are
delighted by the Eden Research team's support to the project and
the fruitful cooperation with the French Authorities and Regulatory
Agencies to bring this innovative biocontrol solution to French
growers and worldwide wine consumers. Mevalone fits growers and
consumers market demands in terms of performance and
characteristics. I strongly believe that the uniqueness of the
Mevalone technology provides outstanding and long-desired benefits
to the French wine producers and exporters. "
Change of Registered Office
In addition, the Company announces that its Registered Office
has been changed to: 6 Priory Court, Priory Court Business Park,
Poulton, Cirencester GL7 5JB.
The announcement contains inside information for the purposes of
Article 7 of Regulation (EU) No 596/2014.
Eden Research plc www.edenresearch.com
Sean Smith, Chief Executive Tel: 01285 359 555
Officer
Alex Abrey, Chief Financial
Officer
Shore Capital and Corporate www.shorecap.com
Limited
Stephane Auton/Patrick Tel: 020 7408 4090
Castle
Walbrook PR Ltd Tel: 020 7933 8780 or eden@walbrookpr.com
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 GBP12m 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
This information is provided by RNS
The company news service from the London Stock Exchange
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