TIDMEDEN
RNS Number : 4104C
Eden Research plc
28 June 2016
Eden Research Plc
("Eden" or "Company")
AGM Statement
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, will hold its AGM today at 12.00pm at the Institute of
Directors, 116 Pall Mall, London SW1Y 5ED.
At the meeting Eden's Chairman, Tom Lupton, will make the
following statement:
Since Eden's last AGM, I am pleased to report that, following
the initial EU approval by Malta of our agrochemical fungicide
product, 3AEY, further approvals have been granted in Italy,
Bulgaria, Kenya, Greece and Spain. Already, product sales have been
made directly to our partners in Kenya and Greece, with sales to be
made this year in Italy and Spain where our partner is
manufacturing the product itself. French approval is expected
during 2016.
Eden has a strong portfolio of products based on the three
active substances for which we already have EU approval. We are now
able, thanks to the funding received in March 2016, to progress
registration of 3AEY and other products in areas such as Australia,
USA and South America, where we can leverage the safety and in some
cases trial data which we have already generated for the EU
approval process.
In crop protection, we have a number of well-established
partners to sell our products (Sumi Agro France, Sipcam Italia and
Iberia and Efthymiadis) with trials on-going with partners for
other areas of the world (USA, South America, Australia, Central
Europe and North Africa).
Eden continues to develop and commercialise, with partners, a
range of products using its patented GO-E encapsulation system with
terpene technology in agrochemicals and other markets such as human
(TerpeneTech for biocide and head-lice applications) and animal
health (Bayer Animal Health for animal health products). Some of
these opportunities are well advanced, such as Eden's nematicide
product, where formulation work, field trials and testing are
complete and arrangements are being concluded with our prospective
partner to commercialise this product. Other opportunities are
earlier stage concepts where the potential is significant, but the
risk of commercial success is higher.
Developing products takes time, as does nurturing relationships
with any customer, especially the bigger players where just getting
a foot in the door can take a lot of time and effort. Field trials
have to be conducted, the regulatory requirements have to be
checked and met. Distributors and users then have to be convinced
that these new products really do work. Then, you can sell
products, generate revenues and, ultimately, make profits.
Eden has a well-balanced portfolio of products, projects and
opportunities at differing levels of risk of commercial success,
the first of which is now bearing fruit, with a strong pipeline
behind it. All part of the process of Eden becoming a truly
commercial entity, having shifted from a purely development
phase.
In the 2015 Annual Report, your CEO said that "the outlook for
the Company is better than it has been at any point in the past". I
would like to reiterate his comment and assure you that I will do
my best to make sure we capitalise on our position and make Eden
the success it should be.
On behalf of the Board I would like to thank you for your
continued support.
In addition, Sean Smith, Chief Executive Officer, will provide
shareholders with a short background presentation on the Company's
technology and business model. The presentation is available on the
Company website here:
www.edenresearch.com/html/group_profile/presentation.asp
Eden Research plc www.edenresearch.com
Sean Smith, Chief Executive Tel: 01285 359 555
Officer
Alex Abrey, Chief Financial
Officer
Shore Capital and Corporate www.shorecap.com
Limited
Stephane Auton/Patrick Tel: 020 7408 4090
Castle
Walbrook PR Ltd Tel: 020 7933 8780 or eden@walbrookpr.com
Paul McManus Mob: 07980 541 893
Lianne Cawthorne Mob: 07584 391 303
Notes:
Eden is an early stage revenue company with intellectual
property and expertise in encapsulation, terpenes and
environmentally friendly technologies to provide naturally
occurring solutions to the global agrochemicals industry, the
animal health industry, and consumer products.
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 hydrophobic
compounds. 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, cosmetic
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.
With leading consultants in their respective fields, the Company
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 licence 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 represents 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 already been authorised for sale in Kenya, Malta,
Greece, Bulgaria, Spain and Italy.
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
This information is provided by RNS
The company news service from the London Stock Exchange
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