Share Name Share Symbol Market Type Share ISIN Share Description
Eden Research Plc 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
  -0.225 -2.74% 7.975 7.70 8.25 8.20 7.975 8.20 214,022 12:40:59
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Pharmaceuticals & Biotechnology 2.8 -0.5 -0.2 - 17

Eden Research plc Grant of 'Emergency use' authorisation

29/07/2019 7:00am

UK Regulatory (RNS & others)


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RNS Number : 9444G

Eden Research plc

29 July 2019

The information contained within this announcement is deemed by the Company to constitute inside information stipulated under the Market Abuse Regulation (EU) No. 596/2014. Upon the publication of this announcement via the Regulatory Information Service, this inside information is now considered to be in the public domain.

Eden Research plc

("Eden" or "Company")

France grants 120-day "emergency" authorisation for use on apples

Eden Research plc (AIM: EDEN), the AIM listed company that develops and supplies breakthrough biopesticide products and natural microencapsulation technologies to the global crop protection, animal health and consumer products industries, is pleased to announce that its commercial partner, Sumi Agro France ("Sumi Agro"), has received a 120 day "emergency use" authorisation for Eden's fungicide, Mevalone, from the French authorities for the treatment of storage diseases on apples. Such "emergency" authorisations are allowed by EU member states when local regulatory authorities judge that they are needed in the local market in order to meet the requirements of growers in the absence of suitable commercially-available alternatives.

Sumi Agro has been selling Mevalone in France since receiving approval for the sale and use of Mevalone for the treatment of botrytis on table and wine grapes in January 2017. This 120-day derogation represents the first authorisation for the use of Mevalone on apples and for the treatment of post-harvest storage diseases. Under this 120-day derogation, Sumi Agro will sell Mevalone to apple producers who will apply Mevalone just prior to harvest. France is one of the top ten producers of apples globally and is the third largest producer in Europe. France is also the fifth largest exporter of apples globally by value.

Mevalone offer growers tremendous advantages by providing efficacy against important crop diseases with active ingredients that are exempt from residue limits and the ability to apply the product just prior to harvest. The benefits of Mevalone are further expanded in this new use as growers are now able to extend the shelf-life of apples and help to reduce food waste and cost in the supply chain. Regulatory authorisation of Mevalone for this use in France and other territories remains subject to full regulatory approval.

Sean Smith, Chief Executive Officer of Eden, said: "This is excellent news supporting the further growth of Mevalone sales as it represents a major new use on an important crop for the treatment of diseases that affect the shelf life of apples. Extending the shelf life of any produce is an impactful way of helping to reduce food chain costs and food waste.

"Whist this derogation is valid until the 21(st) of November 2019, it is a useful illustration of the importance placed by the authorities on the introduction of new, sustainable crop protection products that meet consumer demand for safe foods that are free from pesticide residues. We are working actively with Sumi Agro to support the full authorisation of Mevalone for use in the treatment of pome fruit storage disease, and we believe that this is achievable in the foreseeable future."

Antoine Meyer, President of Sumi Agro France, said: "For the Sumi Agro France team, this emergency use is another important opportunity to promote Mevalone to growers and to better serve a modern and evolving agriculture responding fully to the needs of society. It represents also the strong and constructive cooperation between Eden and Sumi Agro France vis-à-vis influencers and political and administrative authorities."

For further information contact:

 
 Eden Research plc                                www.edenresearch.com 
 Sean Smith 
  Alex Abrey                                      01285 359 555 
 
 
   Cenkos Securities (Nominated advisor and 
   broker) 
 Giles Balleny / Cameron MacRitchie (corporate 
  finance) 
  Michael Johnson (sales)                         020 7397 8900 
 
 
   Powerscourt (Financial PR) 
 Nick Dibden                                      020 7250 1446 
                                                   eden@powerscourt-group.com 
 

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 GBP13m 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. 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.

Mevalone has been authorised for sale in Kenya, Malta, Greece, Bulgaria, Spain, Italy, France, Cyprus,

Albania and Portugal.

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.

END

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

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