Memorandum of Understanding with FMC Corporation

RNS Number : 8467X

Eden Research plc

22 February 2012

 



22 February 2012

GB0001646941/GBP/PLUS-exn

EDEN RESEARCH PLC

("Eden" or the "Company")

Memorandum of Understanding with FMC Corporation

Eden Research plc, the agrochemical and encapsulation development company, is pleased to announce that it has signed a Memorandum of Understanding ("MoU") with FMC Corporation ("FMC"), of the United States, for an exclusive licence for Eden's nematode product in Latin America.

FMC, which recently celebrated its 80^th anniversary of its listing on the New York Stock Exchange, is one of the world's foremost, diversified chemical companies with leading positions in agricultural, industrial and consumer markets. In 2011, FMC had annual sales of circa US$3.4 billion, it employs approximately 5,000 people globally and recently became one of the world's top ten agro-chemical companies.

This MoU substitutes Eden's licencing agreement with Stockton Agrimor AG for Latin America and Mexico.

Sir Ben Gill, Chairman of Eden, said, "We're delighted to be working with such a world renowned company as FMC. Nematodes represent enormous potential for providing an environmentally friendly and hugely efficient way of treating crops. Latin America is of great importance to the agricultural world and increasingly aware of the need for sustainable treatments. We look forward to working with FMC to provide a viable solution to these and other needs."

The Directors of Eden are responsible for the contents of this announcement.

Enquiries:

Eden Research plc                                                                                                           01993 862761

Clive Newitt, Managing Director                                                                                             

Zeus Capital                                                                                                                     0161 831 1512

Ross Andrews/Brian Stockbridge

Newgate Threadneedle                                                                                                020 7653 9850

Josh Royston, Beth Harris

Notes:

Eden has developed a terpene-based encapsulation technology which uses yeast cells to deliver a slow release of natural compounds for agricultural and non-agricultural uses.

Terpenes are natural compounds which function as defence mechanisms in many plant groups and are released in response to infection, attack by pests, stress or mechanical injury. 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.

The next-generation encapsulation technology, licensed from University of Massachusetts Medical School ("UMMS") recently, provides significant additional benefits to the original system as it allows release to be controlled by environmental factors rather than relying solely upon the chemistry of the substances used. This means that there is more control over the timing of the release of the active compound being carried allowing for further reduction in chemicals applied whilst ensuring maximum effectiveness.

The UMMS license also significantly expands the potential use of the Eden technology in non-agricultural applications such as health and beauty, cosmetics and animal health.

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

 

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