REG - Eden Research plc - Regulatory Application for Ecovelex in the UK

Eden ResearchAnnouncement

03/07/2023 07:00

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RNS Number : 6294E  Eden Research plc  03 July 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.

 

03 July 2023

 

 

 

Eden Research

("Eden" or "the Company")

 

Regulatory application for authorised use of Ecovelex™ in the United Kingdom

 

Jointly developed with Corteva Agriscience, the seed treatment product helps
farmers safely repel birds and protects crop yields.

 

Eden Research plc (AIM: EDEN; OTCQB: EDNSF), 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,
today announces that it has applied for the authorisation of Ecovelex™ in
its home country, the United Kingdom, following the recent application for
authorisation in the European Union.

 

Developed by Corteva Agriscience and Eden over the past 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 has been 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 Eden's plant-derived chemistry and formulated using
the Company's Sustaine® microencapsulation system, supporting farmers as they
strive to meet consumer and regulator demands for more sustainable
agriculture.

 

Sean Smith, CEO of Eden Research plc, said:

 

"Following our three-year collaborative development efforts with Corteva, we
are pleased to be pursuing regulatory clearance in our home country.  I am
particularly proud of our Oxfordshire-based team that led the technical
development of Ecovelex, and we can truly say that this is a home-grown
solution to a problem that impacts farmers in the UK and elsewhere every
year.  Eden's collaboration with Corteva Agriscience over the past several
years has been highly productive, and I am pleased to see the first commercial
benefits from these activities within reach.

 

In late May 2023, Eden submitted the regulatory dossier and application to
Austria, who will act as the interzonal rapporteur member state on behalf of
the EU. Review and authorisation can take between 18 and 24 months, with each
EU member state then able to ratify the authorisation or require additional
information before granting local authorisations.  It is anticipated that
review and eventual authorisation in the UK will take a similar amount of
time, though it should be noted that the pace of regulatory actions is
controlled by the relevant authorities with whom Eden will work to ensure that
we are able to bring our effective, sustainable solution to the aid of farmers
affected by bird damage to their crops as quickly as possible."

 

 

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)
 Giles Balleny / Max Gould (corporate finance)     +44 (0) 20 7397 8900

Michael Johnson (sales)

 Hawthorn Advisors (Financial PR)
 Simon Woods                                       eden@hawthornadvisors.com (mailto:eden@hawthornadvisors.com)

 Felix Meston

 

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 recognised brands in agriculture
and a technology pipeline well positioned to drive growth, the company is
committed to maximising 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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