Eden Research plc Eden and Corteva seek to bring Ecovelex to market (8840A)

TIDMEDEN

RNS Number : 8840A

Eden Research plc

30 May 2023

As the information in this release pertains to EDEN RESEARCH PLC, this announcement is deemed to constitute inside information as stipulated under the retained EU law version of the Market Abuse Regulation (EU) No. 596/2014 (the "UK MAR") which is part of UK law by virtue of the European Union (Withdrawal) Act 2018. The information is disclosed in accordance with the Company's obligations under Article 17 of the UK MAR. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

Eden Research plc and Corteva Agriscience Seek to Bring Ecovelex(TM) to EU and UK Market

The seed treatment product helps farmers safely repel birds

GENEVA, Switzerland, 30 May, 2023 - Eden Research plc has applied for the authorization of Ecovelex(TM) in the EU, with application in the UK to follow, with Corteva Agriscience as its distribution partner. Eden is an AIM listed company that develops and supplies sustainable solutions for crop protection, animal health and consumer products.

Developed by Corteva Agriscience and Eden over three years, Ecovelex represents a new entrant into the seed treatment market and is intended to replace conventional chemicals banned in the EU and UK. It was developed to tackle crop destruction caused by birds - a major cause of losses in maize and other crops.

Ecovelex works by affecting the bird's olfactory system, creating an unpleasant taste or odour that repels the birds, leaving the seeds safely intact and the birds unaffected and free to find alternative food sources.

The product is based on plant-derived chemistry and formulated using Eden's Sustaine(R) microencapsulation system, supporting farmers as they strive to meet consumer demands for more sustainable agriculture.

André Negreiros, EMEA Seed Applied Technologies Lead at Corteva Agriscience, said: "After several years of focused and productive collaboration, we are pleased to be reaching the commercialization of Ecovelex. Every year, farmers face heavy losses caused by birds, and recent regulatory changes have meant that the conventional approaches to combating crop damage are no longer available.

"The solution we have developed with Eden offers farmers an effective and safe alternative whilst representing a huge step forward in sustainability by using plant chemistry. Eden's team has done an excellent job of helping us tackle this tremendous market opportunity, and we look forward to expanding upon this work in the future."

Sean Smith, Eden CEO, said: "Eden's collaboration with Corteva Agriscience over the past several years has been highly productive, and I am pleased to see the first real commercial benefits from these activities within reach.

"Together, we are bringing another safe and effective seed treatment to market in near record time through efficient, open collaboration and a real 'win-win' approach. We will enjoy the rewards of this successful collaboration jointly, but it is the farmers who will also win as we will be providing them with a new tool for improving crop yields, safely and sustainably."

Eden has submitted the dossier and application to Austria, who will act as the interzonal rapporteur member state on behalf of the EU. Review and authorization can take between 18 and 24 months, with each EU member state then able to ratify the authorization or require additional information before granting local authorizations.

In addition to their work on Ecovelex, Corteva Agriscience and Eden have been engaged in widespread collaborations including on the appointment of Corteva as Eden's distribution partner in France for Eden's fungicide product, Mevalone(R).

For further information contact:

 
Eden Research plc 
Sean Smith                                                  www.edenresearch.com 
 Alex Abrey                                                 [phone] 
 
Cenkos Securities plc (NOMAD and broker to Eden Research plc) 
Giles Balleny / Max Gould (corporate finance) 
 Michael Johnson (sales)                                    [phone] 
 
Hawthorn Advisors (Financial PR to Eden Research plc) 
Simon Woods                                            [e-mail] 
 Felix Meston 
Corteva Media Enquiries 
József Máté, Corporate Communications     [e-mail] 
 Leader, EMEA                                                   [phone] 
                                                                 [phone] 
 

Notes to Editors:

About Eden

Eden is the only UK-listed company focused on biopesticides for sustainable agriculture. It develops and supplies innovative biopesticide products and natural microencapsulation technologies to the global crop protection, animal health and consumer products industries. Eden's products are formulated with terpene active ingredients, based on natural plant defence metabolites. To date, they have been primarily used on high-value fruits and vegetables, improving crop yields and marketability, with equal or better performance when compared with conventional pesticides. Eden was admitted to trading on AIM on 11 May 2012 and trades under the symbol EDEN. It was awarded the London Stock Exchange Green Economy Mark in January 2021, which recognises London-listed companies that derive over 50% of their total annual revenue from products and services that contribute to the global green economy. Eden derives 100% of its total annual revenues from sustainable products and services.

   For more information, please visit:   www.edenresearch.com . 

Follow Eden on LinkedIn , Twitter and YouTube .

About Corteva

Corteva, Inc. (NYSE: CTVA) is a publicly traded, global pure-play agriculture company that combines industry-leading innovation, high-touch customer engagement and operational execution to profitably deliver solutions for the world's most pressing agriculture challenges. Corteva generates advantaged market preference through its unique distribution strategy, together with its balanced and globally diverse mix of seed, crop protection, and digital products and services. With some of the most recognized brands in agriculture and a technology pipeline well positioned to drive growth, the company is committed to maximizing productivity for farmers, while working with stakeholders throughout the food system as it fulfils its promise to enrich the lives of those who produce and those who consume, ensuring progress for generations to come. More information can be found at www.corteva.com .

Follow Corteva on Facebook , Instagram , LinkedIn , Twitter and YouTube .

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May 30, 2023 02:00 ET (06:00 GMT)