Eden Research hails Chile approval of grape fungicide

(Alliance News) - Eden Research PLC on Friday said it has received regulatory authorisation from Chile for its Novellus+ fungicide to control grey mould and powdery mildew in wine and table grapes.

Shares in Eden Research climbed 16% to 3.53 pence on Friday afternoon in London.

Eden Research is an Oxfordshire, England-based developer of biopesticides and formulation technologies for the crop protection, animal health and consumer products industries.

Sipcam Chile SpA will be the exclusive distributor of the fungicide.

The company said the Chilean market is "particularly attractive", noting that Chile is recognised as one of South America's leading agricultural markets.

Chief Executive Sean Smith said: "Moving forward, we intend to expand the Novellus+ label to include other high-value crops.

"Given the clear intention of the local industry and regulators to move towards more sustainable agriculture, we are confident that our first step into South America will deliver excellent results for our partner, growers, and Eden's stakeholders."

By Roya Shahidi, Alliance News reporter

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