Eden Regulatory News (EDEN)

15 April 2020

Eden Research Plc

("Eden" or "Company")

Appointment of Director of Regulatory Affairs

Eden Research plc (AIM: EDEN), the AIM-quoted company focused on sustainable biopesticides for use in global crop protection, animal health and consumer products industries, today announces the appointment of Dr. Michael Carroll as Director of Regulatory Affairs.

Mike is a leading figure in the field of crop protection products development and registration. He brings international experience to the team having worked in the UK, Germany, Belgium and the USA, with over 30 years' experience gained in the agrochemical industries. Mike served tenures of over 10 years at both Dow AgroSciences and Monsanto Agricultural Group, holding the various positions including Global Registration Manager and European Registration Manager. At Monsanto and Dow AgroSciences, Mike's responsibilities included the global launch of herbicides and fungicides, experience which will be highly relevant as Eden executes on plans to expand its product offering.

More recently, Mike served as Head of Research and Development for Arysta EMEA, the largest region in Arysta LifeSciences. He was responsible for early stage development and registration of new formulations, the defence of existing active substances, chemical and biosolutions, and ensuring REACH (Registration, Evaluation, Authorisation and restriction of Chemicals) compliance in Europe. For the past year, Michael has been working for TSG Consulting (AIM:SAG) an AIM-quoted Science Group company that provides regulatory and scientific support to chemical companies around the world.

Mike holds BSc and PhD degrees in biochemistry from the UK universities of Bath and London, respectively, and throughout his career has shown interest in how local politics ultimately controls the regulatory process. Mike is a frequent speaker and published author, regularly participating in Informa Ag Chem and Generics speciality conferences and British Crop Production Council conferences. In 2019, he presented at both of these events on the topic of "The EU General Food Law and Transparency".

CEO Sean Smith commented: "Mike is a key appointment that further demonstrates our focus on building a high-calibre team around the core functions within our business. He brings significant capabilities to the Company in the critical areas of product registration and regulatory compliance. Mike has a wealth of international experience which has given him invaluable expertise in product registration globally. Mike comes with a long track record of driving successful regulatory outcomes in the crop protection industry, a network of key industry influencers, and experience in senior roles at industry leaders such as Dow AgroSciences and Monsanto. We are pleased to welcome him to Eden."

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 Notes:

Eden Research is an AIM quoted company that develops and supplies breakthrough biopesticide products and natural microencapsulation technologies to the global crop protection, animal health and consumer products industries

Eden's Sustaine encapsulation technology harnesses the biocidal efficacy of naturally occurring chemicals produced by plants (terpenes) and can 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 extract. They produce stabilised aqueous suspensions which, are easy to mix and apply, have phased release patterns, are safer for the environment and the crops themselves.

The European Chemicals Agency (ECHA) has proposed an EU-wide restriction on the placing on the market or use of "intentionally-added" microplastic particles. The proposed restriction includes the use of microplastics for agricultural and horticultural purposes, including polymers utilized for controlled-release fertilizers, encapsulated plant protection products (PPPs), seed coatings, and biocides.

By 2025 in the EU, pesticides containing synthetic polymer microplastics are likely to be banned and removed from the market. The only acceptable alternative is the substitution with biodegradable formulations. Reformulated products will need to be evaluated and registered within the five-year transition period.

Sustaine is one of the only viable, proven and immediately registerable solutions to the microplastics problem in formulations requiring encapsulation.

Historically, terpenes have had limited commercial use in the agrochemical sector due to their volatility, phytotoxicity and poor solubility. Sustaine provides a unique, environmentally friendly solution to these problems and enables terpenes to be used as effective, low-risk agrochemicals.

Eden 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 14m 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 commercial agreements. 

In May 2013, the three actives that comprise Eden's first commercial product, Mevalone, were approved as new ingredients for use in plant protection products by the European Commission ("EC"). This represented 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 2013, Eden's approvals represented 3 of only 10 new active ingredients approved by the EC.

Mevalone is a foliar fungicide which has been authorised for sale in Kenya, Malta, Greece, Bulgaria, Spain, Italy, France, Cyprus, Albania, Portugal and Macedonia.

Cedroz is a nematicide which has been authorised for sale in Malta, Belgium and Mexico.

Eden was admitted to trading on AIM on 11 May 2012 and trades under the symbol EDEN.