AGM Statement

RNS Number : 0568S

Eden Research plc

21 June 2018

 

 21 June 2018 

Eden Research Plc

("Eden" or "Company")

AGM Statement

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, will hold its AGM today at 1.30pm at the Institute of Directors, 116 Pall Mall, London SW1Y 5ED.

At the meeting Eden's Chairman, Lykele van der Broek, will make the following statement:

"I am delighted to be Chairing my first AGM for Eden at such an exciting time in the Company's evolution.

Since retiring from Bayer CropScience, I have sought out just a few companies in which I could take an interest in and spend time challenging and supporting the executive team to grow and develop their businesses using my experience,  and so I was pleased to be offered the role of Chairman at Eden as, after careful consideration, I felt that this business had a lot of potential as well as synergy with my professional background.

It seems to me that Eden has invested a significant amount of time and resource to get to where it has got to today and that this is now starting to pay off with commercialisation in full-swing.

In short order, we will see crop protection, animal health and consumer products on the market, all of which have been either developed by Eden itself, or by partners using Eden's terpene and SustaineÔ encapsulation technologies.

Sustaine clearly has such a wide-variety of applications, which is excellent, however, I think the approach being taken by the Company to concentrate its efforts on a handful of different market sectors, initially, is sensible.

Over the coming year, I hope to oversee an increase in revenue along with an increase in research and development activity which will help to advance the Company's product pipeline apace. In addition, I will assist management in expanding the core team so as to effectively manage the increase in activities that we are seeing, as well as using my experience to progress commercial activity, as appropriate.

In the longer term, I will strive to help Eden become a significant player in the crop protection, animal health and consumer products sectors, which I believe it can be."

Company presentation

After the conclusion of the formal business of the AGM, Eden's Chief Executive Officer will provide a short presentation to investors with an overview of Company progress and strategy. No new material information will be disclosed in the presentation and it will be available on the Company's website later today.

Eden Research plc	www.edenresearch.com
Sean Smith Alex Abrey	01285 359 555
Shore Capital (Nomad)	020 7408 4090
Stephane Auton / Patrick Castle
Powerscourt (Financial PR)	020 7250 1446
Nick Dibden Jana Tsiligiannis

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 crop protection, 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.

 

END

 

 

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