Eden Research plc Patents granted in the United States (0006R)

TIDMEDEN

RNS Number : 0006R

Eden Research plc

25 June 2020

25 June 2020

Eden Research Plc

("Eden" or "Company")

Patents granted in the United States

Eden Research plc (AIM: EDEN), the AIM-quoted company focused on sustainable biopesticides and plastic-free encapsulation technology for use in global crop protection, animal health and consumer products industries, today announces that it has been granted two important patents for its technology in the United States (US).

Patents for Eden's Sustaine(R) encapsulation technology and compositions for insecticide products have both been granted by the US Patent Office. Sustaine microcapsules are naturally sourced, plastic-free, biodegradable micro-spheres derived from yeast extract. Importantly, the Sustaine microencapsulation technology enables the use of naturally occurring terpenes for application in commercial crop protection.

The initial patent provides broad compositional protection for the encapsulation of terpenes in hollow cell wall particles. The second patent provides protection for the use of compositions in a method of killing mites or treating/preventing a mite infestation, which is a designed use for Eden's new insecticide products.

Eden outlined its intention to use a proportion of the proceeds from its fundraising in March 2020 to pursue the registration and commercialisation of its first insecticide products. The initial investment and efficacy trials will target some of the highest value insecticide markets in the US, such as mites, in multiple high value crops (citrus, tree fruit and grapes). The total estimated market size for these combined markets in the US is EUR330m. There is a strong need for an effective alternative to conventional insecticides in the US due to strong consumer and regulatory pressures.

The insecticide products will be additions to the Company's current suite of products. Eden's biopesticide product portfolio is based upon the powerful combination of plant-derived active ingredients and the Sustaine microencapsulation system. Eden's plant protection products offer ease of use and efficacy on par with conventional pesticides whilst being exempt from maximum residue levels in Europe and having low or no pre-harvest intervals, giving growers maximum control and flexibility.

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, plastic-free microencapsulation technologies to the global crop protection, animal health and consumer products industries

Eden's Sustaine 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 is a foliar fungicide which has been authorised for sale in Kenya, Malta, Greece, Bulgaria, Spain, Italy, France, Cyprus, Albania, Portugal and Macedonia.

Cedroz is a nematicide which has been authorised for sale in Malta, Belgium and Mexico.

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

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 [e-mail] or visit www.rns.com.

END

MSCFLFITRFISFII

(END) Dow Jones Newswires

June 25, 2020 02:00 ET (06:00 GMT)