Eden Regulatory News (EDEN)

17 April 2023

Eden Research Plc

("Eden" or "Company")

Eden obtains authorisation for Mevalone in Poland

Eden Research plc (AIM: EDEN), the AIM-quoted company focused on sustainable biopesticides and plastic-free formulation technology for use in the global crop protection, animal health and consumer products industries, announces that its flagship biofungicide, Mevalone®, has received regulatory authorisation in Poland. The certification will allow farmers to apply Mevalone to their wine and table grapes to protect and treat outbreaks of Botrytis cinerea as well as on apples to prevent post-harvest storage diseases thereby helping to reduce food waste in the supply chain.

SumiAgro Europe has been appointed as the Company's exclusive distributor of Mevalone in the territory with product distribution expected to commence imminently. SumiAgro has extensive experience with Mevalone, having previously supported Eden with significant label extensions in France.

Poland represents a significant new market for Eden and the commercialisation of Mevalone, given it is the EU's largest producer of apples, producing almost 2.5 million tons annually. Eden expects to receive additional regulatory approvals in due course in additional Central European member states such as Germany, Austria, and Hungary, where high levels of wine production are found. Central Europe is a strategic target market for Eden with the ultimate addressable market for Eden's products being comparable in value to that of Southern Europe and potential sales of Mevalone estimated to peak at €3.2m.

Sean Smith, Chief Executive Officer of Eden, said:

"Our regulatory approval in Poland marks the beginning of our commercial push into Central Europe, and we are excited by further approvals in the region in due course. While the Polish grape market is relatively small when compared with neighbouring Central European countries, we are encouraged by the opportunities that lie within the apples segment for post-harvest storage disease control. Pre-harvest application of Mevalone helps to protect produce from diseases that can develop during the long storage period, further demonstrating the versatility within our product offering. We are proud to be able to provide farmers with a highly effective crop protection solution that not only supports sustainability in agriculture but also helps to reduce food waste in the supply chain. 

"Furthermore, we are delighted to continue our partnership with SumiAgro, a company with significant influence across Central Europe and the ability to gain market share. We expect distribution of our product to commence imminently with meaningful sales to be realised in the upcoming seasons."

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Notes to Editors:

Eden Research is the only UK-listed company focused on biopesticides for sustainable agriculture. It develops and supplies innovative biopesticide products and natural microencapsulation technologies to the global crop protection, animal health and consumer products industries. 

Eden's products are formulated with terpene active ingredients, based on natural plant defence metabolites. To date, they have been primarily used on high-value fruits and vegetables, improving crop yields and marketability, with equal or better performance when compared with conventional pesticides. Eden has two products currently on the market: 

Based on plant-derived active ingredients, Mevalone® is a foliar biofungicide which initially targets a key disease affecting grapes and other high-value fruit and vegetable crops.  It is a useful tool in crop defence programmes and is aligned with the requirements of integrated pest management programmes. It is approved for sale in a number of key countries whilst Eden and its partners pursue regulatory clearance in new territories thereby growing Eden's addressable market globally.

Cedroz™ is a bionematicide that targets free living nematodes which are parasitic worms that affect a wide range of high-value fruit and vegetable crops globally. Cedroz is registered for sale on two continents and Eden's commercial collaborator, Eastman Chemical, is pursuing registration and commercialisation of this important new product in numerous countries globally.

Eden's Sustaine® encapsulation technology is used to harness 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. Sustaine microcapsules are naturally-derived, plastic-free, biodegradable micro-spheres derived from yeast. It is one of the only viable, proven and immediately registerable solutions to the microplastics problem in formulations requiring encapsulation.

Eden was admitted to trading on AIM on 11 May 2012 and trades under the symbol EDEN. It was awarded the London Stock Exchange Green Economy Mark in January 2021, which recognises London-listed companies that derive over 50% of their total annual revenue from products and services that contribute to the global green economy. Eden derives 100% of its total annual revenues from sustainable products and services. 

For more information about Eden, please visit: www.edenresearch.com.