Product approval in Greece

RNS Number : 5284X

Eden Research plc

01 September 2015

 

Eden Research plc

("Eden" or "Company")

Product approval in Greece

Eden Research Plc (AIM: EDEN), the AIM-listed natural micro-encapsulation company, announces that its first agrochemical product, 3AEY, a fungicide that primarily targets Botrytis on grapes, has been approved for commercial sales and use in Greece.

As part of the regulatory process in the EU, several years' worth of product efficacy trials were conducted in order to generate the data required to support the label claims of Botrytis prevention and control in table and wine grapes. As well as proving disease control, other studies such as taint and vinification have also been conducted to prove the product has no negative quality effects on table grapes or when used to produce wine. 3AEY was considered by the regulatory authority to give a similar level of control to existing commercial chemical fungicides.

3AEY was recently granted authorisation by the zonal Rapporteur Member State Malta for the prevention and cure of botrytis in table and wine grapes. Following this authorisation, the relevant Member States in the southern regulatory zone have 120 days to grant national authorisations thereby allowing sales in key grape growing countries, including three of the top five global grape producers.  Eden's commercialisation partners such as K&N Efthymiadis, Sipcam and Sumi Agro France are now preparing for product launches following authorisation.

Eden's Chief Executive, Sean Smith, commented: "We are very pleased to see the first approval of 3AEY coming through over the traditionally-quiet summer months. K&N Efthymiadis is a well-known and established company in Greece, and we are confident that they will prove to be a good partner to maximise the distribution of 3AEY as well as new 'Eden' agrochemical products as and when they become commercially available.  Though small, Greece is one of the top fifteen grape producers in the world by acreage. Thus, as both an indicator of regulatory progress and as a commercial opportunity, we are pleased with this news and look forward to further national approvals in due course and the launch of product in Greece in early 2016."

K&N Efthymiadis' Chief Executive, Vassos Efthymiadis, commented: "We have been very much looking forward to the launch of 3AEY, as the product has been very well-received by our customers in marketing trials. We are confident that the excellent eco-toxicological and residue characteristics of the product combined with its highly competitive efficacy rate will make this product a great commercial success in the highly sensitive and specialised grape market. Furthermore, we feel that the successful introduction of the product will pave the way for many more products that will use the novel terpene microencapsulation technology developed by Eden."

Enquiries:

Eden Research plc	www.edenresearch.com
Sean Smith, Chief Executive Officer	Tel: [phone]
Alex Abrey, Chief Financial Officer
W H Ireland Limited	www.wh-ireland.co.uk
John Wakefield / Ed Allsopp	Tel: [phone]
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 hydrophobic compounds both natural and synthetic. The technology uses yeast cells 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 has 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. Revenues earned by the Company have been modest whilst the Company has concentrated on securing patent protection for its intellectual property, identifying suitable industrial partners and entering into licence agreements.

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 

K. & N. EFTHYMIADIS S.A. was founded in 1935 and is the largest company in the Efthymiadis Group of Companies, which since 2003 is named "REDESTOS" - Efthymiadis Agro-technology Group. The Group includes 10 subsidiaries in Greece and the Balkans, fully dedicated in the Production, Research & Development and Services for Agriculture.

The Group's activities are separated into four distinct sectors:

·      Agricultural Inputs, Plant Propagation Material, Services and Food Sector

In the sector of Agricultural Inputs, K&N Efthymiadis S.A. holds a leading position in Greece. The company is based in the Industrial Area of Thessaloniki and specializes in the development, production and distribution of plant protection products and specialized fertilizers.

The company cooperates with a number of leading multinational companies including Monsanto, DowAgrosciences, Nippon Soda, Nihon Nohyaku, DuPont, Mitsui Chemicals, ISK, FMC, Bayer, BASF, Chemtura, Agrokanesho, Cheminova, Petronas, Nordox, etc. for the distribution of their products.

For more information about K & N Efthymiadis S.A., please visit http://www.efthymiadis.gr/default.aspx?lang=en-US&page=407

 

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