REG - Eden Research plc - Mevalone authorisation in New Zealand

Eden ResearchAnnouncement

15/05/2023 07:00

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RNS Number : 3292Z  Eden Research plc  15 May 2023

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15 May 2023

 

 

Eden Research Plc

("Eden" or "Company")

 

Eden obtains authorisation for Mevalone in New Zealand

Eden Research plc (AIM: EDEN), the AIM-quoted company focused on sustainable
biopesticides and plastic-free formulation technology for use in the global
crop protection, animal health and consumer products industries, is delighted
to announce that its flagship biofungicide has received regulatory
authorisation in New Zealand for use on wine and table grapes, targeting
outbreaks of Botrytis cinerea (Botrytis), where it will be marketed as
Novellus®.

 

While accounting for a smaller portion of global wine production, the damp
conditions and fluctuating temperatures of New Zealand's wine-growing regions
present an ideal environment for Botrytis cinerea to thrive, thereby creating
strong demand for botryticides such as Novellus. Botrytis is responsible for
significant crop loss and food waste in New Zealand vineyards. This is
particularly prevalent with the nation's most popular wine grape varietal,
Sauvignon Blanc (comprising over two-thirds of New Zealand's wine production),
where the berries grow very closely bunched together. It is estimated that
Botrytis bunch rot can have a financially destructive effect of up to $NZ
5,000 per hectare, with winegrowers typically spending $NZ 1,500 on fungal
crop protection measures to prevent such losses.

 

Sipcam Oxon SpA ("Sipcam") has been appointed as the Company's exclusive
distributor of Novellus for the region, with product distribution expected to
commence in time for its 2023/24 growing season. Typical fungal treatment of
grapes in New Zealand occurs during the months of December to May when the
fruit ripens throughout the Southern Hemisphere summer and early autumn.

 

Sean Smith, Chief Executive Officer of Eden, commented:

 

"We are pleased to receive regulatory authorisation for Novellus in New
Zealand, a prominent wine-growing nation with challenging grape growing
conditions. Botrytis is a widespread problem amongst vineyard operators. We
are proud to play a part in providing a sustainable solution to tackling this
destructive fungal disease that can have a dramatic impact on crop yields and
wine production.

 

"New Zealand is the second country in Oceania in which we now have a foothold,
following Novellus' authorisation in Australia. Operating in these two
Southern Hemisphere markets demonstrates Novellus' strong versatility and
efficacy in working in various environments. We see good sales growth
potential in this market and look forward to commencing marketing and
distribution efforts with Sipcam."

 

 

For further information contact:

 

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

Alex Abrey

                                                     01285 359 555

 Cenkos Securities plc (Nominated advisor and broker)
 Giles Balleny / Max Gould (corporate finance)         020 7397 8900

Michael Johnson (sales)

 Hawthorn Advisors (Financial PR)
 Felix Meston                                          eden@hawthornadvisors.com (mailto:eden@hawthornadvisors.com)

 Simon Woods

 

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 two 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 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.

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

 

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