REG - Eden Research plc - Eden and Corteva seek to bring Ecovelex to market

Eden ResearchAnnouncement

30/05/2023 07:15

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RNS Number : 8840A  Eden Research plc  30 May 2023

As the information in this release pertains to EDEN RESEARCH PLC, this
announcement is deemed to constitute inside information as stipulated under
the retained EU law version of the Market Abuse Regulation (EU) No. 596/2014
(the "UK MAR") which is part of UK law by virtue of the European Union
(Withdrawal) Act 2018. The information is disclosed in accordance with the
Company's obligations under Article 17 of the UK MAR. Upon the publication of
this announcement, this inside information is now considered to be in the
public domain.

 

 

 

Eden Research plc and Corteva Agriscience Seek to Bring Ecovelex™ to EU and
UK Market

 

The seed treatment product helps farmers safely repel birds

 

 

GENEVA, Switzerland, 30 May, 2023 - Eden Research plc has applied for the
authorization of Ecovelex™ in the EU, with application in the UK to follow,
with Corteva Agriscience as its distribution partner. Eden is an AIM listed
company that develops and supplies sustainable solutions for crop protection,
animal health and consumer products.

 

Developed by Corteva Agriscience and Eden over three years, Ecovelex
represents a new entrant into the seed treatment market and is intended to
replace conventional chemicals banned in the EU and UK. It was developed to
tackle crop destruction caused by birds - a major cause of losses in maize and
other crops.

 

Ecovelex works by affecting the bird's olfactory system, creating an
unpleasant taste or odour that repels the birds, leaving the seeds safely
intact and the birds unaffected and free to find alternative food sources.

 

The product is based on plant-derived chemistry and formulated using Eden's
Sustaine® microencapsulation system, supporting farmers as they strive to
meet consumer demands for more sustainable agriculture.

 

André Negreiros, EMEA Seed Applied Technologies Lead at Corteva Agriscience,
said: "After several years of focused and productive collaboration, we are
pleased to be reaching the commercialization of Ecovelex. Every year, farmers
face heavy losses caused by birds, and recent regulatory changes have meant
that the conventional approaches to combating crop damage are no longer
available.

 

"The solution we have developed with Eden offers farmers an effective and safe
alternative whilst representing a huge step forward in sustainability by using
plant chemistry. Eden's team has done an excellent job of helping us tackle
this tremendous market opportunity, and we look forward to expanding upon this
work in the future."

 

Sean Smith, Eden CEO, said: "Eden's collaboration with Corteva Agriscience
over the past several years has been highly productive, and I am pleased to
see the first real commercial benefits from these activities within reach.

 

"Together, we are bringing another safe and effective seed treatment to market
in near record time through efficient, open collaboration and a real 'win-win'
approach.  We will enjoy the rewards of this successful collaboration
jointly, but it is the farmers who will also win as we will be providing them
with a new tool for improving crop yields, safely and sustainably."

 

Eden has submitted the dossier and application to Austria, who will act as the
interzonal rapporteur member state on behalf of the EU. Review and
authorization can take between 18 and 24 months, with each EU member state
then able to ratify the authorization or require additional information before
granting local authorizations.

 

In addition to their work on Ecovelex, Corteva Agriscience and Eden have been
engaged in widespread collaborations including on the appointment of Corteva
as Eden's distribution partner in France for Eden's fungicide product,
Mevalone®.

 

 

For further information contact:

 

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

Alex Abrey

                                                      +44 (0) 1285 359 555

 Cenkos Securities plc (NOMAD and broker to Eden Research plc)
 Giles Balleny / Max Gould (corporate finance)          +44 (0) 20 7397 8900

Michael Johnson (sales)

 Hawthorn Advisors (Financial PR to Eden Research plc)
 Simon Woods                                            eden@hawthornadvisors.com (mailto:eden@hawthornadvisors.com)

 Felix Meston
 Corteva Media Enquiries
 József Máté, Corporate Communications Leader, EMEA     jozsef.mate@corteva.com (mailto:jozsef.mate@corteva.com)

+41 22 775 36 70

                                                        +41 79 597 2709

 

Notes to Editors:

 

About Eden

 

Eden 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 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.

 

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

 

Follow Eden on LinkedIn (https://www.linkedin.com/company/eden-research-plc/)
, Twitter (https://twitter.com/edenresearch)  and YouTube
(https://www.youtube.com/@edenresearch580) .

 

 

About Corteva

 

Corteva, Inc. (NYSE: CTVA) is a publicly traded, global pure-play agriculture
company that combines industry-leading innovation, high-touch customer
engagement and operational execution to profitably deliver solutions for the
world's most pressing agriculture challenges. Corteva generates advantaged
market preference through its unique distribution strategy, together with its
balanced and globally diverse mix of seed, crop protection, and digital
products and services. With some of the most recognized brands in agriculture
and a technology pipeline well positioned to drive growth, the company is
committed to maximizing productivity for farmers, while working with
stakeholders throughout the food system as it fulfils its promise to enrich
the lives of those who produce and those who consume, ensuring progress for
generations to come. More information can be found at www.corteva.com
(https://www.corteva.com/) .

 

Follow Corteva on Facebook (https://www.facebook.com/Corteva/) , Instagram
(https://www.instagram.com/corteva/) , LinkedIn
(https://www.linkedin.com/company/corteva/) , Twitter
(https://twitter.com/corteva)  and YouTube (https://www.youtube.com/corteva)
.

 

 

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