Eden Research plc Approval of 3AEY in Spain (6498P)
February 22 2016 - 1:00AM
UK Regulatory
TIDMEDEN
RNS Number : 6498P
Eden Research plc
22 February 2016
Eden Research Plc
("Eden" or "Company")
Approval of 3AEY in Spain
Eden Research plc (AIM: EDEN), the AIM-listed company that
provides breakthrough natural microencapsulation technologies to
the global agrochemicals, animal health and consumer products
industries, announces that is has now received authorisation in
Spain for its first product, 3AEY, for use in the prevention and
treatment of botrytis in table and wine grapes. 3AEY will be sold
in Spain by Eden's partner Sipcam Iberia, S.L. ("Sipcam") under the
tradename "ARAW"(TM). Eden will realise royalties from the sale of
ARAW in Spain.
This is another significant milestone for Eden which allows the
Company to access the third largest wine producer in the world.
3AEY has already been authorised for sale in Kenya, Malta, Greece,
Bulgaria and most recently Italy, increasing the geographic
footprint of sales in the 2016 growing season. 3AEY is a
terpene-based fungicide that specifically targets Botrytis, a
widespread fungal disease that causes grey mould on many fruits and
vegetables leading to the rapid loss of commercially valuable
crops. Botrytis can destroy as much as 30% of a vineyard in a
matter of days if vines are left untreated.
Sean Smith, Chief Executive Officer of Eden, said: "Approval in
Spain represents the clearance of another hurdle in the
commercialisation of 3AEY across Southern Europe, which has been
eagerly anticipated by Eden, Sipcam and growers alike. Spain is a
major producer of high-value fruits and vegetables, including
grapes, and it is the third largest wine producer in the world.
Sipcam has already initiated pre-marketing efforts and is now able
to pursue full product launch for ARAW(TM) in time for this year's
growing season. Sipcam is well-positioned to gain a substantial
market share over the next few years, and we will work to support
them wherever possible.
"Going forward, we will continue to work with Sipcam to support
the further development of 3AEY for non-grape crops through the
label extension process. Furthermore, we are also working together
to explore the potential to develop 3AEY for the treatment of other
fungal pathogens on grapes and other high-value fruits and
vegetables.
"Spain grows a number of other indoor crops which are exported
all around the world. The worker safety benefits of using
effective, biological products, such as 3AEY, when used in enclosed
environments are clear and desirable. This presents Sipcam with the
opportunity to sell 3AEY, in due course, for crops other than
grapes which will help to derive further value from the investment
that both Eden and Sipcam have made to date."
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 is an early stage revenue company with intellectual
property and expertise in encapsulation, terpenes and
environmentally friendly technologies to provide naturally
occurring solutions to the global agrochemicals industry, the
animal health industry, and consumer products.
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 hydrophobic
compounds. 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, cosmetic
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 licence agreements.
In May of 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 already been authorised for sale in Kenya, Malta,
Greece, Bulgaria and Italy.
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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February 22, 2016 02:00 ET (07:00 GMT)