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Pin to quick picksEden Regulatory News (EDEN)

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AGM Statement

26 Jun 2014 12:37

RNS Number : 6465K
Eden Research plc
26 June 2014
 



Eden Research Plc

("Eden" or "Company")

 

AGM Statement

 

Eden Research plc (AIM: EDEN), the AIM listed natural micro-encapsulation company, held its Annual General Meeting today at mid-day at The Four Pillars Hotel, Ducklington Lane, Witney OX28 4EX.

 

Following the formal proceedings of the meeting, at which all resolutions were duly passed, the Chairman, Tom Lupton, made the following statement:

 

"In the recently published 2013 Eden Report and Accounts, I gave shareholders a detailed update of the Company's development and trading position. I do not propose to repeat this at great length, however I would like to highlight certain key points which I feel, show that Eden is developing into a commercially successful business.

 

3AEY

"EU approval for the active substances in our first plant protection product, the terpene based fungicide 3AEY, was granted in May 2013 and we expect to complete the EU regulatory process this year. This means that we are less than a year away from 'off the shelf' products being approved. This will allow sales of 3AEY to begin through our licensing partners and, we hope, will provide sustained long term revenues.

 

Encapsulation

"Eden has branded its unique, natural encapsulation technology as GO-E Inside™, which will enable us to build brand recognition and form a basis for all future products developed by Eden and its partners. The first sales of products using GO-E Inside™ have been made by our licensee, TerpeneTech Limited. This is clearly a significant milestone and will result in royalties being paid to Eden.

 

Outlook

"The short-term picture is that of increasing revenues and deal flow. The Board plans to reorganise the business to maximise the value of our intellectual property portfolio. This will give Eden a clearer focus and allow us to strengthen the management team to address the challenges faced in the wide range of sectors where our encapsulation technology may be utilised.

 

"From what I have said to you here, as well as in the Chairman's Report, you will hopefully see that there is a lot happening at Eden. Our aim is to make Eden a leader in natural encapsulation technologies and for GO-E Inside™ to become a globally recognised brand. I believe that we now have a very firm foundation upon which to achieve this."

 

Eden Research plc

www.edenresearch.com

Clive Newitt, Managing Director

Tel: 01993 862 761

Alex Abrey, Chief Financial Officer

W H Ireland Limited

www.wh-ireland.co.uk

John Wakefield

Tel: 0117 945 3471

Walbrook PR Ltd

Tel: 020 7933 8780 or eden@walbrookpr.com

Paul McManus

Mob: 07980 541 893

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 hydrophobic compounds both natural and synthetic. The technology uses yeast cells 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 has 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 £12m in developing and protecting its intellectual property. Revenues earned by the Company have been modest whilst the Company has concentrated on securing patent protection for its intellectual property, identifying suitable industrial partners and entering into licence agreements.

 

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
 
END
 
 
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