TIDMEDEN
Eden Research plc
01 July 2020
1 July 2020
Eden Research Plc
("Eden" or "Company")
New office and laboratory in Oxfordshire
New laboratory facilities in Oxfordshire supports Eden's growth
ambitions
Eden Research plc (AIM: EDEN), the AIM-quoted company focused on
sustainable biopesticides and plastic-free encapsulation technology
for use in global crop protection, animal health and consumer
products industries, today announces that it has moved office and
opened up a new laboratory facility at Milton Park, one of Europe's
leading science and technology communities, located in Oxfordshire.
The Company's registered office address has not changed.
The new laboratory facility will allow the Company to do more
in-house, including formulation, microbiological screening, plant
and seed evaluations and analytical work. It also features
high-tech plant growth chambers, allowing Eden to undertake
relatively rapid, small scale tests on different plant species.
Eden also plans to use the laboratory for important insect-focussed
work as part of the Company's plan to develop its first
bioinsecticide products, which will allow the Company to enter new
addressable markets valued at approximately EUR850m in the EU and
US combined.
Milton Park is home to more than 250 companies and over 9,000
workers and is one of the largest science clusters in the country.
The business community features cutting-edge science, technology
and innovative businesses, making it a perfect fit for Eden to
relocate as part of its strategic ambition to capitalise on new
product and market opportunities.
Sean Smith, CEO of Eden Research, commented: "We are delighted
to have been able to complete our office move on time and safely,
in spite of the challenges posed by the Covid-19 pandemic. The
opening of our new laboratory facilities is an important milestone
for Eden. The fact that we now have the ability to conduct in-house
research and development improves the efficiency of our operations,
helping us to expand the footprint of our business through product
development.
"Milton Park is well regarded for being home to some of the UK's
top science and technology firms. We are excited to be joining the
community and look forward to continuing our work in sustainable
agriculture from our new Oxfordshire base."
For further information contact:
Eden Research plc www.edenresearch.com
Sean Smith
Alex Abrey 01285 359 555
Cenkos Securities plc (Nominated advisor
and broker)
Giles Balleny / Cameron MacRitchie (corporate
finance)
Michael Johnson (sales) 020 7397 8900
Hawthorn Advisors (Financial PR)
Jana Tsiligiannis eden@hawthornadvisors.com
Ed Curtis
Notes:
Eden Research is an AIM quoted company that develops and
supplies breakthrough biopesticide products and natural,
plastic-free microencapsulation technologies to the global crop
protection, animal health and consumer products industries
Eden's Sustaine encapsulation technology harnesses the biocidal
efficacy of naturally occurring chemicals produced by plants
(terpenes) and can be used with both natural and synthetic
compounds to enhance their performance and ease-of-use.
Sustaine microcapsules are naturally derived, plastic-free,
biodegradable micro-spheres derived from yeast extract. They
produce stabilised aqueous suspensions which, are easy to mix and
apply, have phased release patterns, are safer for the environment
and the crops themselves.
The European Chemicals Agency (ECHA) has proposed an EU-wide
restriction on the placing on the market or use of
"intentionally-added" microplastic particles. The proposed
restriction includes the use of microplastics for agricultural and
horticultural purposes, including polymers utilized for
controlled-release fertilizers, encapsulated plant protection
products (PPPs), seed coatings, and biocides.
By 2025 in the EU, pesticides containing synthetic polymer
microplastics are likely to be banned and removed from the market.
The only acceptable alternative is the substitution with
biodegradable formulations. Reformulated products will need to be
evaluated and registered within the five-year transition
period.
Sustaine is one of the only viable, proven and immediately
registerable solutions to the microplastics problem in formulations
requiring encapsulation.
Historically, terpenes have had limited commercial use in the
agrochemical sector due to their volatility, phytotoxicity and poor
solubility. Sustaine 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 14m 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, Mevalone, were approved as new ingredients for
use in plant protection products by the European Commission ("EC").
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 2013,
Eden's approvals represented 3 of only 10 new active ingredients
approved by the EC.
Mevalone is a foliar fungicide which has been authorised for
sale in Kenya, Malta, Greece, Bulgaria, Spain, Italy, France,
Cyprus, Albania, Portugal and Macedonia.
Cedroz is a nematicide which has been authorised for sale in
Malta, Belgium and Mexico.
Eden was admitted to trading on AIM on 11 May 2012 and trades
under the symbol EDEN.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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