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Eden Research plc - Key patent granted for Eden’s Sustaine technology

RNS Number : 9625Y
Eden Research plc
15 September 2020
 

15 September 2020

Eden Research Plc

("Eden" or "Company")

Key patent granted for Eden's Sustaine® technology

Eden Research plc (AIM: EDEN), the AIM-quoted company focused on sustainable biopesticides and plastic-free encapsulation technology for use in the global crop protection, animal health and consumer products industries, today announces that the patent behind its Sustaine® encapsulation technology has been granted in Australia; the first patent specifically covering the use of Sustaine with third party active ingredients to be granted anywhere in the world.

The patent is for "Encapsulation of High Potency Actives" allowing for the combination of Sustaine with a wide range of active ingredients from third parties. Sustaine microcapsules are naturally-derived, biodegradable micro-spheres produced from yeast extract, and are one of the few viable alternatives to plastic-based microencapsulation technologies which are used widely in fertilisers, encapsulated plant protection products (PPPs), seed coatings, and biocides. 

Eden has engaged in a number of projects around the world to test the compatibility of Sustaine with third party active ingredients in order to determine whether benefits such as formulation stability, improved efficacy, dose reduction or resistance management can be achieved. In January 2020, Eden announced an exclusive agreement with Corteva Agriscience which allows the pure-play agriculture company to evaluate formulations based upon Sustaine in certain major territories. The patent allows Eden to exploit opportunities of this kind in the Australian market with a patent protected position. Patent protection gives the technology competitive advantage, affording Eden and its partners a significant additional benefit and reason to use the Sustaine system as an alternative to plastic-based microencapsulation approaches. Patents are being pursued by Eden in a total of 27 key territories around the world, including the United States, Europe, China and Brazil.

In addition to being used to harness the benefit of nature-identical, terpene active ingredients in Eden's own commercial products such as Mevalone® and Cedroz™, the potential of Sustaine extends to the technology's effectiveness with other natural and synthetic compounds such as those widely used in Eden's key markets. This opens up a vast range of opportunities for the Company globally as pressure builds to cut out the use of plastic in the food supply chain. Many of the synthetic compounds used in agricultural products currently use microplastic encapsulation in their formulations which could be replaced with Sustaine. Regulatory steps are underway to phase out the use of these "intentionally-added" microplastics, as demonstrated by the European Chemicals Agency's proposed EU-wide restriction on their use for agricultural and horticultural purposes, which is a part of a wider ban on the intentional use of plastics. The granting of the patent behind Sustaine supports Eden's ability to leverage the technology whilst capitalising on the changing regulatory environment. Working with its commercial partners globally, Eden will explore opportunities to utilise Sustaine with third parties as part of the company's wider vision is to become a leader in sustainable bioactive products.

Sean Smith, Chief Executive Officer of Eden Research plc, said: "The 'High Potency Actives' patent family, which will eventually cover many of the world's major economies, protects the use of our Sustaine technology with a wide range of active ingredients and is therefore valuable to Eden. Taking conventional agchem products and encapsulating them in our Sustaine system allows us to provide a new offering; creating more plastic-free alternatives for use in farming. With various projects underway using third-party ingredients, we now have a unique position to apply our Sustaine system in Australia with patent protection and contribute to sustainable agriculture and the reduction of the microplastics problem more widely."

 

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
Ed Curtis

[email protected]

 

 

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® 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 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™ is a nematicide 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 partner, 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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Price: 8.375

Market: AIM
Market Cap: £31.85 m
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