Eden Research plc Change of Registered Office (8537B)

TIDMEDEN

RNS Number : 8537B

Eden Research plc

13 October 2020

13 October 2020

Eden Research Plc

("Eden" or "Company")

Change of Registered Address

The Company announces that its registered office address has changed with immediate effect to 67C Innovation Drive, Milton Park, Abingdon, Oxfordshire, England, OX14 4RQ. Going forward, all formal notices and general correspondence should be sent to the new address.

The change follows Eden's recently reported move to its new laboratory and office facilities in Milton Park, one of Europe's leading science and technology communities.

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                                [e-mail] 
  Ed Curtis 
 

Notes:

Eden Research is an AIM quoted company that develops and supplies breakthrough biopesticide products and natural microencapsulation technologies to the global crop protection, animal health and consumer products industries

Eden's Sustaine(R) 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(R) is a foliar biofungicide which initially targets a key disease affecting grapes and other high-value fruit and vegetable crops. It is approved for sale in a number of key countries whilst Eden and its partners pursue regulatory clearance in new territories thereby growing Eden's addressable market globally.

Cedroz(TM) is a bionematicide that targets free living nematodes which are parasitic worms that affect a wide range of high-value fruit and vegetable crops globally. Eden's commercial collaborator, Eastman Chemical, is pursuing registration and commercialisation of this important new product in numerous countries globally.

Eden was admitted to trading on AIM on 11 May 2012 and trades under the symbol EDEN.

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October 13, 2020 02:00 ET (06:00 GMT)