Eden Regulatory News (EDEN)

29 June 2022

Eden Research Plc

("Eden" or "Company")

AGM Statement

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, will hold its Annual General Meeting today at 12:00pm at 10 -11 Carlton House Terrace, London.

At the meeting, Eden's Chairman, Lykele van der Broek, will make the following statement:

"The world has changed since we last came together in-person for Eden's AGM. Despite this unprecedented backdrop, Eden has continued to make positive strides that have seen us lay down firm foundations for revenue growth.

Over the past year, we have expanded our regulatory footprint for our flagship biopesticide products, Cedroz™ and Mevalone®, and diversified and strengthened the business through increased crop and disease coverage in existing territories. This has resulted in modest sales growth, despite the highly challenging environment, with increased growth expected in 2022 and beyond.

We eagerly await the approval of our two products and three active ingredients in the US, which will see us significantly expand our addressable market by entering one of the largest agricultural markets in the world.

2021 also saw us sign an exclusive agreement with Corteva Agriscience, the fourth largest agriscience input company in the world. This partnership is strong and we work hard together to bring our innovative seed treatment product to the market, based on Eden's active ingredients and Sustaine® microencapsulation technology.

After a few challenging years, we have a positive outlook for 2022, with an anticipated return to stronger year-on-year growth, despite some difficult conditions.

We remain focused on registering and commercialising new products, including our insecticide and seed treatment offerings, expanding the addressable market for our existing product set, further developing the use of Sustaine with conventional agrochemical partners, and expanding our product portfolio.

We seek to achieve this using our relatively new in-house innovation capabilities, which have reduced our dependence on third parties, and which help us to bring products to market in a more efficient and cost-effective way.

We are the only UK-listed company focused on sustainable biopesticides and plastic free encapsulation technology. As regulators continue to regulate out conventional crop protection products across the world, and farmers urgently seek alternatives to maintain their crop yields, Eden's products align perfectly with the course set for the global industry. We think that this offers a significant opportunity for our shareholders, commercial partners and growers and we look forward to working together and sharing good news in the coming year."

Company presentation

After the conclusion of the formal business of the AGM, Sean Smith, Eden's Chief Executive Officer, will provide a short presentation to investors with an overview of the Company's progress and strategy.

At the beginning of the presentation, Eden will play a short video entitled "From Lab to Leaf: The biopesticide registration journey", which seeks to shine a light on the journey that an Eden product goes through from conception to commercialisation and seeks to raise awareness and understanding of this complex process.

The presentation and short video will be made available on the Company's website later today.

For further information contact:

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® 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™ 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® 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 .