Directorate Change

RNS Number : 5954B

Eden Research plc

08 January 2015

 

Eden Research Plc

("Eden" or "Company")

Directorate Change

Eden Research plc (AIM: EDEN), the AIM listed natural micro-encapsulation company, announces that Ken Brooks, Non-Executive Director, has given notice of his intention to retire from the Board at the Company's AGM in June later this year. Ken, who is 58, is seeking to reduce his time commitments and remains a supportive Eden shareholder and advisor.

Sean Smith, Chief Executive Officer of Eden, said: "On behalf of the Board I would like to thank Ken for his contribution to Eden over the last 19 years. We are at a turning point for the Company as we move closer to EU southern zone approval for 3AEY and see more and more of our partners moving towards the commercial launch of products using our patented technologies. I am extremely grateful for all Ken's efforts in getting us to this critical point, and I look forward to continuing to work with him as a member of the Board  through the first half of this year as we continue our progress on the transformation of Eden from pre-revenue to post commercialisation."

Eden Research plc	www.edenresearch.com
Sean Smith, Chief Executive Officer	Tel: [phone]
Alex Abrey, Chief Financial Officer
W H Ireland Limited	Tel: [phone]
John Wakefield / Ed Allsopp
Walbrook PR Ltd	Tel: [phone] or [e-mail]
Paul McManus	Mob: [phone]
Lianne Cawthorne	Mob: [phone]

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 

 

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