Eden Research plc Approval of 3AEY in Spain (6498P)

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 
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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)