Last checked at 19 Dec 2014 07:00
Eden Research Plc
("Eden" or "Company")
Progress on Southern EU zone approval of 3AEY
Eden Research plc (AIM: EDEN), the AIM listed natural micro-encapsulation company, announces that it has commented on the draft Registration Report from the regulatory authorities in Malta in relation to its review of the application for the authorisation of 3AEY, Eden's agrochemical product which is used to tackle botrytis, a fungal disease affecting many plants, including grapes.
The Company has provided comprehensive responses to points raised by the Maltese authorities. The Maltese authorities will next collate all comments received and then advise Eden whether or not all of the information that has been submitted by Eden is sufficient for authorisation of 3AEY. Once authorisation has been given by Malta, the remaining Southern EU zone member states will have 120 days in which to issue their authorisations. Eden, its advisors and its licensees fully expect authorisation in due course, following the processes and requirements of the regulatory authorities.
Sean Smith, Chief Executive Officer of Eden, said: "Whilst the process for registering plant protection products in Europe is onerous and lengthy, particularly given the low risk nature of 3AEY, it is designed to protect the environment and consumers and will ultimately lead to Eden and its partners, such as Sipcam and Sumi Agro France, having a strong competitive position in the market, resulting in royalties to Eden.
"Our partners understand these processes very well and are clearly comfortable with our progress, hence the recently-announced licence agreements and further deals which we expect to announce in due course. Furthermore, we are leveraging our partners' expertise and strengths to help secure final regulatory authorisation for 3AEY as quickly as possible."
Eden Research plc | www.edenresearch.com |
Sean Smith, Chief Executive Officer | Tel: 01993 862 761 |
Alex Abrey, Chief Financial Officer | |
W H Ireland Limited | Tel: 0117 945 3471 |
John Wakefield / Ed Allsopp | |
Walbrook PR Ltd | Tel: 020 7933 8780 or eden@walbrookpr.com |
Paul McManus | Mob: 07980 541 893 |
Lianne Cawthorne | Mob: 07584 391 303 |
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 both natural and synthetic hydrophobic compounds. 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, 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 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 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 licence agreements.
In May of 2013, the three actives that comprise Eden's first commercial product, 3AEY, were approved as new ingredients for use in plant protection products. This represents 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.
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