REG - Eden Research plc - Biofungicide regulatory authorisation in Germany

Eden ResearchAnnouncement

13/08/2024 07:00

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RNS Number : 1616A  Eden Research plc  13 August 2024

13 August 2024

 

 

Eden Research Plc

("Eden" or "Company")

 

Biofungicide regulatory authorisation in Germany

 

Eden Research plc (AIM: EDEN), the AIM-quoted company focused on sustainable
biopesticides and a plastic-free formulation technology for use in the global
crop protection, animal health and consumer products industries, is pleased to
announce that it has been granted regulatory authorisation for use of its
flagship biofungicide Mevalone® in Germany. Mevalone is authorised for
professional use on grapevines and apples to control Botrytis on grapes and
for the prevention of storage diseases on apples.

 

Renowned for its world-class white wines, Germany is the fourth largest
wine-producing country in Europe. The nation is home to 13 designated wine
regions accounting for a total area of 103,000 hectares. Germany is
particularly famous for Riesling, a grape variety that produces some of the
world's finest white wines and the most widely planted grape variety in
Germany. Germany's cooler climate is well-suited for growing white grape
varieties that flourish in such conditions; however, these conditions are also
favourable for the development of fungal diseases which at the end of the
growing season can threaten the harvest. Mevalone with its high efficacy
against Botrytis and its short pre-harvest interval, is a key solution to
prevent and to stop these fungal attacks.

 

Germany is also a highly significant apple-growing nation, with annual
harvests of more than 1.1 million tonnes. They are typically grown in
environments with cooler winters and warmer summers with adequate rainfall
that can often lead to humid conditions. For this reason, apples are one of
the most intensive crops in terms of preventative fungicide applications, but
there is still the need to reduce their load of fungi in the fruit during long
cold storage periods. In this case, Mevalone will prolong these storage
periods without the need of additional conventional fungicides.

 

Among EU countries, Germany has the third highest registered share of all sold
pesticides at 15% (following France at 21% and Spain at 18%), according to
data from the European Commission. In accordance with the EU's Green Deal and
Farm to Fork Strategy, which aims to halve the use of pesticides by 2030 and
increase consumer demand for organic produce, there has been a growing market
drive to adopt more sustainable farming practices in the Central Europe region
to reduce reliance on harmful conventional fungicides. With this latest
approval, Eden Research alongside its commercial partner in the region, Sumi
Agro Europe, will look to take a notable portion of Germany's biopesticide
market share by providing local farmers with a sustainable alternative that
performs in much the same way as conventional pesticides.

 

Sean Smith, Chief Executive Officer of Eden Research plc, commented:

 

"Today's news marks the fourth significant regulatory announcement over the
past 12 months. It is another sign of real progress for our corporate growth
strategy that we are able to deliver an additional market entry opportunity
for an existing product which will add meaningful revenue within three years
of product launch. In the context of our EU addressable market, Germany is a
particularly notable territory gain for Eden and Mevalone given the prevalence
of fungal disease in the cooler conditions in which wine grapes and apples are
grown. It is also encouraging to note the German regulator's support for
products such as Mevalone as, like growers across Europe and the UK, German
farmers are increasingly challenged by the removal of conventional pesticides
from the market.  Mevalone is the perfect tool to sustainably support farmers
with efficacious products that help protect their crops, yields and profits.

 

"We will be working with our commercial partner SumiAgro Germany over the
coming months to optimise the commercial strategy for the region in time for
the next growing season."

 

 

For further information contact:

 

 Eden Research plc
 Sean Smith                                                        www.edenresearch.com (http://www.edenresearch.com)

Alex Abrey

                                                                 01285 359 555

 Cavendish Capital Markets Limited (Nominated advisor and broker)
 Giles Balleny / George Lawson (corporate finance)                 020 7220 0500

Charlie Combe (corporate broking)

Michael Johnson (sales)

 Hawthorn Advisors (Financial PR)
 Victoria Ainsworth                                                eden@hawthornadvisors.com (mailto:eden@hawthornadvisors.com)

 

Notes to Editors:

 

Eden Research is the only UK-listed company focused on biopesticides for
sustainable agriculture. It develops and supplies innovative biopesticide
products and natural microencapsulation technologies to the global crop
protection, animal health and consumer products industries.

 

Eden's products are formulated with terpene active ingredients, based on
natural plant defence metabolites. To date, they have been primarily used on
high-value fruits and vegetables, improving crop yields and marketability,
with equal or better performance when compared with conventional pesticides.
Eden has three products currently on the market:

 

Based on plant-derived active ingredients, Mevalone® is a foliar
biofungicide which initially targets a key disease affecting grapes and other
high-value fruit and vegetable crops.  It is a useful tool in crop defence
programmes and is aligned with the requirements of integrated pest management
programmes. It is approved for sale in a number of key countries whilst Eden
and its partners pursue regulatory clearance in new territories thereby
growing Eden's addressable market globally.

 

Cedroz™( )is a bionematicide that targets free living nematodes which are
parasitic worms that affect a wide range of high-value fruit and vegetable
crops globally.  Cedroz is registered for sale on two continents and Eden's
commercial collaborator, Eastman Chemical, is pursuing registration and
commercialisation of this important new product in numerous countries
globally.

 

Eden's seed treatment product, Ecovelex™ was developed to safely tackle
crop destruction caused by birds - a major cause of losses in maize and other
crops. Ecovelex works by creating an unpleasant taste or odour that repels
birds, leaving the seeds safely intact and the birds unaffected and free to
find alternative food sources. The product is based on Eden's plant-derived
chemistry, registered in the EU, U.S. and elsewhere, and formulated using
Eden's Sustaine® microencapsulation system.

 

Eden's Sustaine(®)( )encapsulation technology is used to harness 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. Sustaine microcapsules are
naturally-derived, plastic-free, biodegradable micro-spheres derived from
yeast. It is one of the only viable, proven and immediately registerable
solutions to the microplastics problem in formulations requiring
encapsulation.

 

Eden was admitted to trading on AIM on 11 May 2012 and trades under the
symbol EDEN. It was awarded the London Stock Exchange Green Economy
Mark in January 2021, which recognises London-listed companies that derive
over 50% of their total annual revenue from products and services that
contribute to the global green economy. Eden derives 100% of its total annual
revenues from sustainable products and services. In 2024, the Company was
named ESG Company of the Year by the Small Cap Network Awards.

 

For more information about Eden, please visit:  www.edenresearch.com
(http://www.edenresearch.com/) .

 

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