Last checked at 17 Oct 2012 10:30
EDEN RESEARCH PLC
("Eden" or "Company")
EU registration milestone reached
Eden Research plc, the agrochemical and encapsulation development company, announces that the European Food Safety Authority ("EFSA") has concluded its review of the three active substance dossiers submitted by Eden for approval under Council Directive 91/414/EEC.
The review report will now be sent to the European Commission for their review before a vote by the EC member states will ultimately take place to approve the three active substances for use in plant protection products within the EU.
Clive Newitt, Managing Director of Eden said, "This is a significant milestone for Eden in a process which has taken a number of years and into which Eden has invested a considerable amount of time, money and effort. We are now at the tail end of the process and look forward to seeing it through to its conclusion which is expected to be in spring 2013, in line with previous announcements."
Eden Research plc | www.edenresearch.com |
Clive Newitt, Managing Director | Tel: 01993 862 761 |
Alex Abrey, Chief Financial Officer | |
Zeus Capital Limited | |
Ross Andrews, Andrew Jones (Nominated Advisor, Broker, Corporate Finance) | Tel: 0161 831 1512 |
John Goold (Institutional Sales)
| Tel: 020 7106 8925 |
Walbrook PR Ltd | Tel: 020 7933 8780 |
Paul McManus (Media Relations) | Mob: 07980 541 893 or paul.mcmanus@walbrookpr.com |
Paul Cornelius (Investor Relations) | Mob: 07827 879 496 or paul.cornelius@walbrookir.com |
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 (2010: £172,000; 2011: £91,000) 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