TIDMEDEN
RNS Number : 8840A
Eden Research plc
30 May 2023
As the information in this release pertains to EDEN RESEARCH
PLC, this announcement is deemed to constitute inside information
as stipulated under the retained EU law version of the Market Abuse
Regulation (EU) No. 596/2014 (the "UK MAR") which is part of UK law
by virtue of the European Union (Withdrawal) Act 2018. The
information is disclosed in accordance with the Company's
obligations under Article 17 of the UK MAR. Upon the publication of
this announcement, this inside information is now considered to be
in the public domain.
Eden Research plc and Corteva Agriscience Seek to Bring
Ecovelex(TM) to EU and UK Market
The seed treatment product helps farmers safely repel birds
GENEVA, Switzerland, 30 May, 2023 - Eden Research plc has
applied for the authorization of Ecovelex(TM) in the EU, with
application in the UK to follow, with Corteva Agriscience as its
distribution partner. Eden is an AIM listed company that develops
and supplies sustainable solutions for crop protection, animal
health and consumer products.
Developed by Corteva Agriscience and Eden over three years,
Ecovelex represents a new entrant into the seed treatment market
and is intended to replace conventional chemicals banned in the EU
and UK. It was developed to tackle crop destruction caused by birds
- a major cause of losses in maize and other crops.
Ecovelex works by affecting the bird's olfactory system,
creating an unpleasant taste or odour that repels the birds,
leaving the seeds safely intact and the birds unaffected and free
to find alternative food sources.
The product is based on plant-derived chemistry and formulated
using Eden's Sustaine(R) microencapsulation system, supporting
farmers as they strive to meet consumer demands for more
sustainable agriculture.
André Negreiros, EMEA Seed Applied Technologies Lead at Corteva
Agriscience, said: "After several years of focused and productive
collaboration, we are pleased to be reaching the commercialization
of Ecovelex. Every year, farmers face heavy losses caused by birds,
and recent regulatory changes have meant that the conventional
approaches to combating crop damage are no longer available.
"The solution we have developed with Eden offers farmers an
effective and safe alternative whilst representing a huge step
forward in sustainability by using plant chemistry. Eden's team has
done an excellent job of helping us tackle this tremendous market
opportunity, and we look forward to expanding upon this work in the
future."
Sean Smith, Eden CEO, said: "Eden's collaboration with Corteva
Agriscience over the past several years has been highly productive,
and I am pleased to see the first real commercial benefits from
these activities within reach.
"Together, we are bringing another safe and effective seed
treatment to market in near record time through efficient, open
collaboration and a real 'win-win' approach. We will enjoy the
rewards of this successful collaboration jointly, but it is the
farmers who will also win as we will be providing them with a new
tool for improving crop yields, safely and sustainably."
Eden has submitted the dossier and application to Austria, who
will act as the interzonal rapporteur member state on behalf of the
EU. Review and authorization can take between 18 and 24 months,
with each EU member state then able to ratify the authorization or
require additional information before granting local
authorizations.
In addition to their work on Ecovelex, Corteva Agriscience and
Eden have been engaged in widespread collaborations including on
the appointment of Corteva as Eden's distribution partner in France
for Eden's fungicide product, Mevalone(R).
For further information contact:
Eden Research plc
Sean Smith www.edenresearch.com
Alex Abrey +44 (0) 1285 359 555
Cenkos Securities plc (NOMAD and broker to Eden Research plc)
Giles Balleny / Max Gould (corporate finance)
Michael Johnson (sales) +44 (0) 20 7397 8900
Hawthorn Advisors (Financial PR to Eden Research plc)
Simon Woods eden@hawthornadvisors.com
Felix Meston
Corteva Media Enquiries
József Máté, Corporate Communications jozsef.mate@corteva.com
Leader, EMEA +41 22 775 36 70
+41 79 597 2709
Notes to Editors:
About Eden
Eden 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 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.
For more information, please visit: www.edenresearch.com .
Follow Eden on LinkedIn , Twitter and YouTube .
About Corteva
Corteva, Inc. (NYSE: CTVA) is a publicly traded, global
pure-play agriculture company that combines industry-leading
innovation, high-touch customer engagement and operational
execution to profitably deliver solutions for the world's most
pressing agriculture challenges. Corteva generates advantaged
market preference through its unique distribution strategy,
together with its balanced and globally diverse mix of seed, crop
protection, and digital products and services. With some of the
most recognized brands in agriculture and a technology pipeline
well positioned to drive growth, the company is committed to
maximizing productivity for farmers, while working with
stakeholders throughout the food system as it fulfils its promise
to enrich the lives of those who produce and those who consume,
ensuring progress for generations to come. More information can be
found at www.corteva.com .
Follow Corteva on Facebook , Instagram , LinkedIn , Twitter and
YouTube .
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