TIDMEDEN
RNS Number : 0006R
Eden Research plc
25 June 2020
25 June 2020
Eden Research Plc
("Eden" or "Company")
Patents granted in the United States
Eden Research plc (AIM: EDEN), the AIM-quoted company focused on
sustainable biopesticides and plastic-free encapsulation technology
for use in global crop protection, animal health and consumer
products industries, today announces that it has been granted two
important patents for its technology in the United States (US).
Patents for Eden's Sustaine(R) encapsulation technology and
compositions for insecticide products have both been granted by the
US Patent Office. Sustaine microcapsules are naturally sourced,
plastic-free, biodegradable micro-spheres derived from yeast
extract. Importantly, the Sustaine microencapsulation technology
enables the use of naturally occurring terpenes for application in
commercial crop protection.
The initial patent provides broad compositional protection for
the encapsulation of terpenes in hollow cell wall particles. The
second patent provides protection for the use of compositions in a
method of killing mites or treating/preventing a mite infestation,
which is a designed use for Eden's new insecticide products.
Eden outlined its intention to use a proportion of the proceeds
from its fundraising in March 2020 to pursue the registration and
commercialisation of its first insecticide products. The initial
investment and efficacy trials will target some of the highest
value insecticide markets in the US, such as mites, in multiple
high value crops (citrus, tree fruit and grapes). The total
estimated market size for these combined markets in the US is
EUR330m. There is a strong need for an effective alternative to
conventional insecticides in the US due to strong consumer and
regulatory pressures.
The insecticide products will be additions to the Company's
current suite of products. Eden's biopesticide product portfolio is
based upon the powerful combination of plant-derived active
ingredients and the Sustaine microencapsulation system. Eden's
plant protection products offer ease of use and efficacy on par
with conventional pesticides whilst being exempt from maximum
residue levels in Europe and having low or no pre-harvest
intervals, giving growers maximum control and flexibility.
For further information contact:
Eden Research plc www.edenresearch.com
Sean Smith
Alex Abrey 01285 359 555
Cenkos Securities plc (Nominated advisor
and broker)
Giles Balleny / Cameron MacRitchie (corporate
finance)
Michael Johnson (sales) 020 7397 8900
Hawthorn Advisors (Financial PR)
Jana Tsiligiannis eden@hawthornadvisors.com
Ed Curtis
Notes:
Eden Research is an AIM quoted company that develops and
supplies breakthrough biopesticide products and natural,
plastic-free microencapsulation technologies to the global crop
protection, animal health and consumer products industries
Eden's Sustaine encapsulation technology harnesses the biocidal
efficacy of naturally occurring chemicals produced by plants
(terpenes) and can be used with both natural and synthetic
compounds to enhance their performance and ease-of-use.
Sustaine microcapsules are naturally derived, plastic-free,
biodegradable micro-spheres derived from yeast extract. They
produce stabilised aqueous suspensions which, are easy to mix and
apply, have phased release patterns, are safer for the environment
and the crops themselves.
The European Chemicals Agency (ECHA) has proposed an EU-wide
restriction on the placing on the market or use of
"intentionally-added" microplastic particles. The proposed
restriction includes the use of microplastics for agricultural and
horticultural purposes, including polymers utilized for
controlled-release fertilizers, encapsulated plant protection
products (PPPs), seed coatings, and biocides.
By 2025 in the EU, pesticides containing synthetic polymer
microplastics are likely to be banned and removed from the market.
The only acceptable alternative is the substitution with
biodegradable formulations. Reformulated products will need to be
evaluated and registered within the five-year transition
period.
Sustaine is one of the only viable, proven and immediately
registerable solutions to the microplastics problem in formulations
requiring encapsulation.
Historically, terpenes have had limited commercial use in the
agrochemical sector due to their volatility, phytotoxicity and poor
solubility. Sustaine 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 14m 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 by the European Commission ("EC").
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 2013,
Eden's approvals represented 3 of only 10 new active ingredients
approved by the EC.
Mevalone is a foliar fungicide which has been authorised for
sale in Kenya, Malta, Greece, Bulgaria, Spain, Italy, France,
Cyprus, Albania, Portugal and Macedonia.
Cedroz is a nematicide which has been authorised for sale in
Malta, Belgium and Mexico.
Eden was admitted to trading on AIM on 11 May 2012 and trades
under the symbol EDEN.
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
MSCFLFITRFISFII
(END) Dow Jones Newswires
June 25, 2020 02:00 ET (06:00 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