Eden Research plc Grant of 'Emergency use' authorisation (9444G)
July 29 2019 - 1:00AM
UK Regulatory
TIDMEDEN
RNS Number : 9444G
Eden Research plc
29 July 2019
The information contained within this announcement is deemed by
the Company to constitute inside information stipulated under the
Market Abuse Regulation (EU) No. 596/2014. Upon the publication of
this announcement via the Regulatory Information Service, this
inside information is now considered to be in the public
domain.
Eden Research plc
("Eden" or "Company")
France grants 120-day "emergency" authorisation for use on
apples
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, Sumi Agro France
("Sumi Agro"), has received a 120 day "emergency use" authorisation
for Eden's fungicide, Mevalone, from the French authorities for the
treatment of storage diseases on apples. 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.
Sumi Agro has been selling Mevalone in France since receiving
approval for the sale and use of Mevalone for the treatment of
botrytis on table and wine grapes in January 2017. This 120-day
derogation represents the first authorisation for the use of
Mevalone on apples and for the treatment of post-harvest storage
diseases. Under this 120-day derogation, Sumi Agro will sell
Mevalone to apple producers who will apply Mevalone just prior to
harvest. France is one of the top ten producers of apples globally
and is the third largest producer in Europe. France is also the
fifth largest exporter of apples globally by value.
Mevalone offer growers tremendous advantages by providing
efficacy against important crop diseases with active ingredients
that are exempt from residue limits and the ability to apply the
product just prior to harvest. The benefits of Mevalone are further
expanded in this new use as growers are now able to extend the
shelf-life of apples and help to reduce food waste and cost in the
supply chain. Regulatory authorisation of Mevalone for this use in
France and other territories remains subject to full regulatory
approval.
Sean Smith, Chief Executive Officer of Eden, said: "This is
excellent news supporting the further growth of Mevalone sales as
it represents a major new use on an important crop for the
treatment of diseases that affect the shelf life of apples.
Extending the shelf life of any produce is an impactful way of
helping to reduce food chain costs and food waste.
"Whist this derogation is valid until the 21(st) of November
2019, it is a useful illustration of the importance placed by the
authorities on the introduction of new, sustainable crop protection
products that meet consumer demand for safe foods that are free
from pesticide residues. We are working actively with Sumi Agro to
support the full authorisation of Mevalone for use in the treatment
of pome fruit storage disease, and we believe that this is
achievable in the foreseeable future."
Antoine Meyer, President of Sumi Agro France, said: "For the
Sumi Agro France team, this emergency use is another important
opportunity to promote Mevalone to growers and to better serve a
modern and evolving agriculture responding fully to the needs of
society. It represents also the strong and constructive cooperation
between Eden and Sumi Agro France vis-à-vis influencers and
political and administrative authorities."
For further information contact:
Eden Research plc www.edenresearch.com
Sean Smith
Alex Abrey 01285 359 555
Cenkos Securities (Nominated advisor and
broker)
Giles Balleny / Cameron MacRitchie (corporate
finance)
Michael Johnson (sales) 020 7397 8900
Powerscourt (Financial PR)
Nick Dibden 020 7250 1446
eden@powerscourt-group.com
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.
END
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