TIDMEDEN
RNS Number : 4889D
Eden Research plc
10 October 2018
10 October 2018
Eden Research plc
("Eden" or "Company)
TerpeneTech granted regulatory clearance for head-lice
product
Eden Research plc (AIM: EDEN), the AIM listed company that
develops and supplies breakthrough biopesticide products and
natural microencapsulation technologies to the global crop
protection, animal health and consumer products industries, is
pleased to announce that its associate company, TerpeneTech Limited
("TerpeneTech"), has received regulatory clearance to sell its
head-lice product in the European Economic Area ("EEA").
Sales of the head-lice product into the distribution channel are
expected to begin before the end of 2018 in the UK, where
TerpeneTech's distribution channel partner has already been
established, with commercial launch at the beginning of 2019. Sales
will commence in other countries in the EEA once arrangements with
additional distribution partners have been finalised. This is
expected to take place during 2019.
Eden will supply a concentrate of encapsulated active
ingredients (based upon Eden's microencapsulation technology) to
TerpeneTech, who will then formulate the finished product for
initial sale by its distribution partner into the UK retail
market.
Sean Smith, Chief Executive Officer of Eden, said: "The
development of this head-lice product has been in progress for
approximately three years and it is good to see it now being
commercialised.
The launch of any consumer product into a regulated market, such
as the head-lice treatment products market, is significantly more
complicated, time consuming and costly than launching products into
unregulated markets. Therefore, we are pleased with the progress
that TerpeneTech has made in only three years since it was granted
a licence to use Eden's microencapsulation technology for head-lice
treatment formulations.
The head-lice markets, globally, tend to be quite fragmented,
and so we feel that the approach being taken by TerpeneTech's
distribution partner to include the under-served discount-retail
market is sensible."
Antoine Biron, Director of TerpeneTech, said: "Our head-lice
treatment product has performed very well in clinical trials where
it has been tested against leading, competitive products. We
believe that the product will be well-received by consumers due to
the product's naturally-derived active ingredients, ease of use,
safety and efficacy.
We look forward to the UK product launch being the first of
several in the EEA and eventually the US for both the head-lice
product and other products, such as our naturally-derived under-arm
deodorant, subject to any requisite regulatory approval."
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
Nick Dibden eden@powerscourt-group.com
Jana Tsiligiannis
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 GBP13m 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.
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END
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