TIDMEDEN
RNS Number : 7083J
Eden Research plc
30 June 2017
Eden Research Plc
("Eden" or "Company")
AGM Statement
Eden Research plc (AIM: EDEN), the AIM-listed company that
provides breakthrough natural microencapsulation technologies to
the global agrochemicals, animal health and consumer products
industries, will hold its AGM today at 12.00pm at the Institute of
Directors, 116 Pall Mall, London SW1Y 5ED.
At the meeting Eden's Chairman, Tom Lupton, will make the
following statement:
Since our last AGM, the Company has seen the first commercial
sales of 3AEY in Italy, Spain and Greece; received registration of
3AEY in France, as well as other countries within the southern EU
zone; signed an exclusive distribution agreement with Eastman
Chemical for our nematicide product; and expanded its team through
the appointment of experienced sector experts.
We have also today announced the signing of a number of
important commercial agreements with Sipcam SpA who, at the same
time, have made a strategic investment in Eden. This, in itself, is
an important event which serves as a platform upon which we will be
able to maximise the value of Eden, its products and
technologies.
All of this, I hope, goes to show the significant progress that
has been made over the last twelve months.
And yet, the next twelve months is set to be even better for
Eden with first commercial sales of 3AEY in France in 2017; product
registrations progressing in several regions, including the USA;
distribution agreements to be signed covering multiple territories
for 3AEY and other products; the launch of Bayer Animal Health's
pet products; the launch of TerpeneTech's head-lice product; and
research and development work being undertaken which will help to
strengthen the Company's portfolio of products.
The Company is well-positioned to grow; by building market
acceptance, share and reach of its products through strong
partners, such as Sipcam, Eastman Chemical and Bayer Animal Health;
by funding product and technology development through the resources
that it now has available to it; by developing its own branding,
including Sustaineä which will become increasingly well-known and
sought after in the sectors in which Eden's technologies and
products are commercialised.
The market for natural and naturally-derived products and
technologies such as ours continues to grow at a rapid rate and we
are pleased to be in a position to take full advantage of this.
Over the last year, Eden has started selling product on a
commercial scale, which has moved us from being solely in a
development phase to the commercialisation stage. We are now well
positioned to build on this and all the development work that we
have invested in to date. There is still much to do and more value
to be derived and our expanded team will be concentrating its
efforts on delivering this over the next twelve months.
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 website later today.
Eden Research plc www.edenresearch.com
Sean Smith, Chief Executive Tel: 01285 359 555
Officer
Alex Abrey, Chief Financial
Officer
Shore Capital and Corporate www.shorecap.com
Limited
Stephane Auton/Patrick Tel: 020 7408 4090
Castle
Walbrook PR Ltd Tel: 020 7933 8780 or eden@walbrookpr.com
Paul McManus Mob: 07980 541 893
Lianne Cawthorne Mob: 07584 391 303
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 agrochemicals, 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 GBP12m 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 and Albania.
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
This information is provided by RNS
The company news service from the London Stock Exchange
END
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