Last checked at 11 Aug 2014 07:00
Eden Research Plc
("Eden" or "Company")
Exclusive evaluation agreement signed for Eden's nematicide product
Eden Research plc (AIM: EDEN), the AIM listed natural micro-encapsulation company, announces that it has signed an exclusive evaluation agreement ("Agreement") with Belgian speciality chemicals expert, Taminco BVBA ("Taminco").
The Agreement grants Taminco the right to evaluate Eden's nematicide product for crop protection uses until 31 December 2014. It is anticipated, in case of a successful evaluation and if a profitable business case can be made, that Eden and Taminco will negotiate a global licensing arrangement to allow the commercialisation of the nematicide product which is expected to use Eden's active ingredients and GO-E Inside™, Eden's natural encapsulation technology.
Clive Newitt, Managing Director of Eden, said: "The market for nematicides is worth around $1 billion per year at grower level and, in recent years, has seen a significant number of effective products being removed from sale due to their risk profiles. Eden has created an effective, natural alternative to replace some of these products' uses which we believe Taminco will be able to commercialise alongside their existing soil fumigant business in order to fully exploit this opportunity."
Eden Research plc | www.edenresearch.com |
Clive Newitt, Managing Director | Tel: 01993 862 761 |
Alex Abrey, Chief Financial Officer | |
W H Ireland Limited | Tel: 0117 945 3471 |
John Wakefield or Ed Allsopp | |
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 document contains statements that may constitute forward-looking statements. A variety of factors, many of which are beyond Taminco's or Eden's control could cause the actual developments to be materially different from any developments that may be expressed or implied by such forward-looking statements.
Taminco and Eden neither intend, nor assume any obligation, to update or revise these forward-looking statements in light of developments which differ from those anticipated.