TIDMEDEN
RNS Number : 0109Z
Eden Research plc
12 December 2017
12 December 2017
Eden Research plc
("Eden" or "Company)
Regulatory progress update
Eden Research plc (AIM: EDEN), the AIM listed company that
provides breakthrough natural microencapsulation technologies to
the global agrochemicals, animal health and consumer products
industries, announces that its distribution partner, Eastman
Chemical ("Eastman"), has announced the submission of the
regulatory dossiers for its new nematicide, Cedroz(TM) . Cedroz
will be a new tool for farmers to control a wide range of
economically important nematodes.
The first product dossiers were submitted to the authorities in
Israel, Europe, and Mexico for the use in fruit and vegetable
farming against root knot nematodes. The first sales are expected
towards the end of 2019.
Cedroz is an innovative formulation based on specific
nature-identical terpenes and based on an encapsulation technology
which was developed and patented by Eden Research plc ("Eden").
Eastman is Eden's exclusive partner for the development and
distribution of this product in more than 25 key countries around
the world. The favourable toxicological regulatory profile of
Cedroz will provide a high level of flexibility on the timing of
application for farmers and comfort for the workers. In all
regulatory trials completed, no residues were found in the crops at
harvest.
Sean Smith, Chief Executive Officer of Eden, said: "We are very
pleased with the progress that Eastman has made with the
far-reaching registration of Cedroz in their territories. They have
proven themselves to be a dedicated and efficient partner, and in
tackling such a large undertaking, they are building an impressive
platform for the commercialization of Cedroz as an important
solution to the challenges that nematodes create for farmers
globally".
Guy Van Den Bossche, General Manager of Eastman's Crop
Protection business, said: "Eastman is a leading supplier in soil
disinfection for high value crops, and extending our portfolio
worldwide with this new post-planting nematicide is an exciting
step for our customers. The sustainable profile and the agronomical
performance of Cedroz offers a solution to the challenges in the
soil treatment market and broader societal need for increasing
sustainability in crop protection."
Save as set out in the additional information section below
there are no further disclosures required to be made in respect of
the appointments under Schedule 2(g) of the AIM Rules for
Companies.
For further information contact:
Eden Research plc www.edenresearch.com
Sean Smith
Alex Abrey 01285 359 555
Shore Capital (Nomad) 020 7408 4090
Stephane Auton / Patrick
Castle
Powerscourt (Financial
PR) 020 7250 1446
Samantha Trillwood
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 GBP12m 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, 3AEY, 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.
3AEY 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.
Eastman is a global advanced materials and specialty additives
company that produces a broad range of products found in items
people use every day.
With a portfolio of specialty businesses, Eastman works with
customers to deliver innovative products and solutions while
maintaining a commitment to safety and sustainability. Its
market-driven approaches take advantage of world-class technology
platforms and leading positions in attractive end-markets such as
transportation, building and construction, and consumables.
Eastman focuses on creating consistent, superior value for all
stakeholders.
As a globally diverse company, Eastman serves customers in more
than 100 countries and had 2016 revenues of approximately $9.0
billion.
The company is headquartered in Kingsport, Tennessee, USA and
employs approximately 14,000 people around the world.
For more information, please visit: www.eastman.com.
This information is provided by RNS
The company news service from the London Stock Exchange
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