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
  0.00 0.0% 4.75 4.50 5.00 4.75 4.75 4.75 6,048 01:00:00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Pharmaceuticals & Biotechnology 1.4 -2.5 -0.7 - 18

Eden Research plc New Major Crop Use for Mevalone in France

02/12/2021 7:00am

UK Regulatory (RNS & others)

Eden Research (LSE:EDEN)
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RNS Number : 2982U

Eden Research plc

02 December 2021

2(nd) December 2021

Eden Research plc

("Eden" or "the Company")

New Major Crop Use for Mevalone(R) in France

Eden Research plc (AIM: EDEN), the AIM-quoted company focused on sustainable biopesticides and plastic-free formulation technology for use in global crop protection, animal health and consumer products industries, is pleased to announce that the French regulatory authority ANSES has granted full authorisation of Eden's biofungicide Mevalone(R) for use on pome fruits (such as apples and pears) to prevent post-harvest storage diseases.

France produces close to 1.6 million tonnes of apples annually and exports almost half of that volume. France is consistently among the top three apple producing countries in the EU.

This authorisation represents the first full authorisation for a major new use and the first use of Mevalone on pome fruit after an emergency authorisation was granted in 2019. The original emergency authorisation was granted as apple growers are coming under increasing pressure to protect their harvests while the list of available conventional treatments are being reduced due to regulatory action.

Many conventional fungicide products have relatively long pre-harvest intervals (the minimum time allowed between application of a pesticide and harvest) because they leave detectable chemical residues. This means that they cannot be applied to a crop in the critical last weeks of the season when fruit can be vulnerable to damage to the skin leading to rot during storage and ultimately, food loss. Collectively, post-harvest diseases cause significant economic losses worldwide on an annual basis, with fruit losses ranging from 5 to 20%.

Fortunately, Mevalone(R) offers growers a sustainable alternative, as it is based on natural plant active ingredients which are exempt from EU crop residue limits and can be applied up to three days before harvest, significantly reducing the risk of loss to farmers and the generation of food waste.

This latest authorisation is a significant addition to the existing Mevalone(R) label in France, where it is already approved for use on grapes to control botrytis and distributed by Sumi Agro France.

Sean Smith, Chief Executive Officer of Eden Research plc, said:

"The new use of Mevalone on apples, which are classed as a major crop in France, is an exciting development for Eden, and grows our addressable market in this key European territory. Mevalone has significant potential in several market segments, and we are focussed on developing the product to meet the needs of farmers who are increasingly unable to use many conventional chemicals due to more stringent regulations. We look forward to receiving further product authorisations in due course and further helping farmers efficiently and sustainably provide food for our growing population."

For further information contact:

 Eden Research plc                           
 Sean Smith 
  Alex Abrey                                                 01285 359 555 
 Cenkos Securities plc (Nominated advisor 
  and broker) 
 Giles Balleny / Camilla Hume / Mark Connelly 
  (corporate finance) 
  Michael Johnson (sales)                                    020 7397 8900 
 Hawthorn Advisors (Financial PR) 
 Victoria Ainsworth                     
  Johanna Pemberton 

Notes to Editors:

Eden Research 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 has two products currently on the market:

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. Cedroz is registered for sale on two continents and Eden's commercial collaborator, Eastman Chemical, is pursuing registration and commercialisation of this important new product in numerous countries globally.

Eden's Sustaine(R) encapsulation technology is used to harness 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. Sustaine microcapsules are naturally-derived, plastic-free, biodegradable micro-spheres derived from yeast. It is one of the only viable, proven and immediately registerable solutions to the microplastics problem in formulations requiring encapsulation.

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 about Eden, please visit:  . 

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