Share Name Share Symbol Market Type Share ISIN Share Description
Eden LSE:EDEN London Ordinary Share GB0001646941 ORD 1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.00p +0.00% 10.25p 10.00p 10.50p 10.25p 10.125p 10.25p 86,151 14:55:45
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Pharmaceuticals & Biotechnology 0.4 -1.9 -1.0 - 21.22

Eden Research plc AGM Statement

30/06/2017 7:43am

UK Regulatory (RNS & others)


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RNS Number : 7083J

Eden Research plc

30 June 2017

Eden Research Plc

("Eden" or "Company")

AGM Statement

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, will hold its AGM today at 12.00pm at the Institute of Directors, 116 Pall Mall, London SW1Y 5ED.

At the meeting Eden's Chairman, Tom Lupton, will make the following statement:

Since our last AGM, the Company has seen the first commercial sales of 3AEY in Italy, Spain and Greece; received registration of 3AEY in France, as well as other countries within the southern EU zone; signed an exclusive distribution agreement with Eastman Chemical for our nematicide product; and expanded its team through the appointment of experienced sector experts.

We have also today announced the signing of a number of important commercial agreements with Sipcam SpA who, at the same time, have made a strategic investment in Eden. This, in itself, is an important event which serves as a platform upon which we will be able to maximise the value of Eden, its products and technologies.

All of this, I hope, goes to show the significant progress that has been made over the last twelve months.

And yet, the next twelve months is set to be even better for Eden with first commercial sales of 3AEY in France in 2017; product registrations progressing in several regions, including the USA; distribution agreements to be signed covering multiple territories for 3AEY and other products; the launch of Bayer Animal Health's pet products; the launch of TerpeneTech's head-lice product; and research and development work being undertaken which will help to strengthen the Company's portfolio of products.

The Company is well-positioned to grow; by building market acceptance, share and reach of its products through strong partners, such as Sipcam, Eastman Chemical and Bayer Animal Health; by funding product and technology development through the resources that it now has available to it; by developing its own branding, including Sustaineä which will become increasingly well-known and sought after in the sectors in which Eden's technologies and products are commercialised.

The market for natural and naturally-derived products and technologies such as ours continues to grow at a rapid rate and we are pleased to be in a position to take full advantage of this.

Over the last year, Eden has started selling product on a commercial scale, which has moved us from being solely in a development phase to the commercialisation stage. We are now well positioned to build on this and all the development work that we have invested in to date. There is still much to do and more value to be derived and our expanded team will be concentrating its efforts on delivering this over the next twelve months.

Company presentation

After the conclusion of the formal business of the AGM, Eden's Chief Executive Officer, will provide a short presentation to investors with an overview of Company progress and strategy. No new material information will be disclosed in the presentation and it will be available on the Company website later today.

 
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 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 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 commercial agreements.

In May 2013, the three actives that comprise Eden's first commercial product, 3AEY, 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.

3AEY has been authorised for sale in Kenya, Malta, Greece, Bulgaria, Spain, Italy, France, Cyprus and Albania.

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

END

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June 30, 2017 02:43 ET (06:43 GMT)

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