Eden Research plc - New authorisations for Cedroz™ and Mevalone®
("Eden" or "Company")
New authorisations for Cedroz™ and Mevalone®
The approval of Cedroz in
The combined fruit, vegetable and horticultural sector in
The demand for Cedroz stems from it being residue-free with a zero-day pre-harvest interval, which allows for applications right up to harvest. These characteristics, combined with regulatory changes that have limited the availability of traditional nematicides, position Cedroz well for inclusion in French growers' crop protection programmes, helping them to meet consumer demand for quality produce, free from chemical residues.
The organic approval of Mevalone is timely as the French organic farming industry is on the rise, increasing from around 580,000 hectares in 2008 to over 2 million hectares in 2018. Now that Mevalone can be used on organic farms it increases the addressable market for the product. Eden's three EU-registered active ingredients, geraniol, eugenol and thymol, received approval for use in organic farming in the EU in January of this year. There is an opportunity for additional growth in other EU countries when organic approval for Cedroz and Mevalone as full formulations is granted.
Eden has also received authorisation for the sale of Mevalone in
The information contained herein is not expected to have a significant impact on management's expectations of performance for the year.
For further information contact:
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01285 359 555
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Cenkos Securities plc (Nominated advisor and broker)
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020 7397 8900
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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.
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.
Mevalone® 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™ 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
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Quick facts: Eden Research PLC
Market Cap: £32.33 m
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