Eden Research plc Sipcam agreement for Australia and New Zealand (0069E)
15 October 2018 - 5:00PM
UK Regulatory
TIDMEDEN
RNS Number : 0069E
Eden Research plc
15 October 2018
15 October 2018
Eden Research plc
("Eden" or "Company")
Exclusive distribution agreement signed for Australia and New
Zealand
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,
announces that it has signed an exclusive distribution agreement
("Agreement") with Sipcam SpA ("Sipcam") for its fungicide product
(the "Product") to be sold in Australia and New Zealand. The
Product, which is currently sold in Europe and Africa, will be
marketed by Sipcam in Australia and New Zealand under the trade
name "Novellus" following receipt of the requisite approvals. In
conjunction with the distribution agreement, the application for
the registration of Novellus has been submitted to the Australian
regulatory authorities and the process is anticipated to be
completed in time for the 2020 growing season.
The Agreement allows Sipcam to sell Novellus in Australia and
New Zealand on an exclusive basis, primarily for the treatment of
botrytis on grapes. Botrytis is a fungus that affects many plant
species, but it is particularly problematic for grape growers due
to the rapid progression of the disease and its significant impact
on crop yield and wine quality. Sipcam is already the exclusive
distributor for the Product in Italy and Spain, and therefore has
good product knowledge and insight into the grape fungicide market,
making it well-positioned to commercialise the Product in a market
with significant potential.
Australia and New Zealand are both major producers of grapes and
wine, with Australia being included in the world's top ten. The
need for an effective product for the treatment of botrytis is
well-known in both countries and is even more important after the
removal of iprodione for sale in Europe. As much of Australia's
wine is exported, the Australian Wine Research Institute (AWRI) has
stated that products containing the active constituent iprodione
are no longer recommended for use on Australian grapes destined for
export.
Sean Smith, Chief Executive Officer of Eden, said: "There is a
clear opportunity for Novellus to help growers control botrytis in
Australia and New Zealand. The fact that Novellus can also be used
close to harvest will provide a valuable replacement for iprodione.
We are pleased to be taking the first step toward expanding the
existing relationship we have with Sipcam, who has already proven
to be a good commercial partner for the Product in Italy and Spain.
We anticipate the further expansion of our relationship with Sipcam
in due course as our collaboration continues under the various
agreements signed last year."
For further information contact:
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 eden@powerscourt-group.com
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 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 GBP13m 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.
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END
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