TIDMEDEN
RNS Number : 8493K
Eden Research plc
10 May 2022
10 May 2022
Eden Research Plc
("Eden" or "Company")
Regulatory update: Progress towards EPA approval and further
authorisation in Italy
Eden Research plc (AIM: EDEN), the AIM-quoted company focused on
sustainable biopesticides and a plastic-free formulation technology
for use in global crop protection, animal health and consumer
products industries, announces that it has passed a key milestone
in the US for the approval of its products, Mevalone(R) and Cedroz
Ô . In addition, Eden's biofungicide, Mevalone(R) , has received
authorisation for use on new crops in Italy for the control of the
disease Botrytis cinerea, a destructive fungal pathogen affecting
many plant species, as well as authorisation for use against
additional fungal pathogens Powdery Mildew and Sclerotinia.
Progress towards EPA approval
The United States Environmental Protection Agency (EPA) has
confirmed that it has granted Eden's plastic-free,
microencapsulation technology, Sustaine(R) , an exemption from the
requirement of a tolerance for residues in pesticide formulations
in pre-harvest applications to crops. This is a key milestone with
Eden now in the final stages of a process which should result in
its three active ingredients (eugenol, geraniol and thymol) and two
formulated products (Mevalone and Cedroz) receiving authorisation
in the US in 2022.
The addressable markets in the US, based on the products'
current labels, are approximately EUR94m for Mevalone and EUR189m
for Cedroz. With the demand for biopesticides such as these
increasing significantly in the US due to rising regulatory
restrictions for conventional chemicals, the tolerance exemption
and subsequent approvals will present a significant opportunity for
Eden.
Further Mevalone authorisation in Italy
Mevalone is sold exclusively in Italy by Eden's commercial
partner, Sipcam Oxon SpA ("Sipcam"), under the brand name "3logy(R)
".
Eden announces that it has been granted a label extension for
3logy in Italy, which authorises 3logy to be used against two new
fungal pathogens and adds a number of new crop types to the label
including berry fruits, tomato, watermelon, salad leaves, herbs,
aubergines, cucumbers and peppers.
Product applications are permitted close to the point of
harvest, with most new uses having a pre-harvest interval of just
one day. 3logy affords growers maximum flexibility in their crop
protection programmes as it is free from residues and provides the
important benefit of avoiding product rejections by wholesalers and
food retailers which can result from higher-than-allowed pesticide
residue levels.
Sipcam has extensive experience with 3logy and has recently
supported significant label extensions in Spain and Portugal as
well as in Italy. This approval in Italy will enable Sipcam to
expand the market for 3logy across thousands of hectares of new
high value crops, such as strawberries where over 14,000 tonnes are
exported from Italy alone on an annual basis.
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 / Max Gould (corporate
finance)
Michael Johnson (sales) 020 7397 8900
Hawthorn Advisors (Financial PR)
Victoria Ainsworth eden@hawthornadvisors.com
Stephen Atkinson
Notes to Editors:
Eden Research is the only UK-listed company focused on
biopesticides for sustainable agriculture. It develops and supplies
innovative biopesticide products and natural microencapsulation
technologies to the global crop protection, animal health and
consumer products industries.
Eden's products are formulated with terpene active ingredients,
based on natural plant defence metabolites. To date, they have been
primarily used on high-value fruits and vegetables, improving crop
yields and marketability, with equal or better performance when
compared with conventional pesticides. Eden has two products
currently on the market:
Based on plant-derived active ingredients, Mevalone (R) is a
foliar biofungicide which initially targets a key disease affecting
grapes and other high-value fruit and vegetable crops. It is a
useful tool in crop defence programmes and is aligned with the
requirements of integrated pest management programmes. 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 (TM) 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. Cedroz is registered
for sale on two continents and Eden's commercial collaborator,
Eastman Chemical, is pursuing registration and commercialisation of
this important new product in numerous countries globally.
Eden's Sustaine (R) encapsulation technology is used to harness
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.
Sustaine microcapsules are naturally-derived, plastic-free,
biodegradable micro-spheres derived from yeast. It is one of the
only viable, proven and immediately registerable solutions to the
microplastics problem in formulations requiring encapsulation.
Eden was admitted to trading on AIM on 11 May 2012 and trades
under the symbol EDEN. It was awarded the London Stock Exchange
Green Economy Mark in January 2021, which recognises London-listed
companies that derive over 50% of their total annual revenue from
products and services that contribute to the global green economy.
Eden derives 100% of its total annual revenues from sustainable
products and services.
For more information about Eden, please visit: www.edenresearch.com .
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