Eden Regulatory News (EDEN)

13 November 2018

Eden Research plc

("Eden" or "Company")

Eastman highly commended at prestigious Agrow Awards for Eden's nematicide formulation, Cedroz

Eden Research plc (AIM: EDEN), the AIM listed company that develops and supplies breakthrough biopesticide products and natural microencapsulation technologies to the global crop protection, animal health and consumer products industries, is pleased to announce that its commercial partner, Eastman Chemical ("Eastman"), has been highly commended in the 'Best New Biological Product' category at the 11th Agrow Awards in London last night. The accolade was given for Eden's nematicide formulation, Cedroz.

The Agrow Awards is a highly prestigious global event, celebrating excellence among companies, teams, and individuals in the crop protection and seed sector.

Cedroz is an innovative and nature-identical product formulated and patented by Eden Research plc and developed in conjunction with Eastman as a post-planting solution to the problem of root-knot nematodes (Meloidogyne spp.) in Solanaceae and Cucurbitaceae crops. Cedroz is a water-based formulation of the terpenes thymol and geraniol, which are encapsulated using Eden's Sustaine system, a natural microencapsulation system that enables the use of otherwise difficult-to-use active ingredients.

In line with the ever-increasing consumer demand for 'safe' products, Cedroz is an attractive alternative for farmers looking to fight nematodes in an environmentally friendly way. With registration files under evaluation, it is expected that the product will have zero residues and a zero-day pre-harvest interval, thereby allowing applications right up to harvest, if desired. Cedroz offers farmers ease of use, since it is applied using the existing irrigation system. The two multi-site active ingredients not only work synergistically, thereby maximising efficacy on the target pest, but also offer a robust anti-resistance strategy. As no resistance is foreseen, effective repeated use is possible.

Sean Smith, Chief Executive Officer of Eden, said: "We are delighted that Eastman's efforts to commercialise Cedroz have been recognised through being high commended for the best new biological product. Eastman has been an excellent partner for us, investing significant resources and capital to advance the commercialisation of Cedroz. We congratulate the Eastman team involved in these efforts and look forward to our ongoing collaboration with them in advancing Cedroz and exploring new opportunities."

For further information contact:

Notes:

Eden Research is a technology development and commercialisation company with intellectual property and expertise in encapsulation, terpenes and environmentally friendly technologies to provide naturally occurring solutions for the global agrochemicals, animal health, and consumer product industries.

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 compounds to enhance their performance and ease-of-use. 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, cosmetics 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.

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 £13m 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, 3AEY, were approved as new ingredients for use in plant protection products. 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 all of 2013, Eden's approvals represented 3 of only 10 new active ingredients approved by the EC.

3AEY has been authorised for sale in Kenya, Malta, Greece, Bulgaria, Spain, Italy, France, Cyprus, Albania and Portugal.

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.