REG - Eden Research plc - Regulatory approval for Novellus+ in Mexico

Eden ResearchAnnouncement

20/12/2024 07:00

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RNS Number : 8377Q  Eden Research plc  20 December 2024

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20 December 2024

 

 

Eden Research plc

("Eden" or "the Company")

 

 

Regulatory approval for Novellus+ in Mexico

 

 

Eden Research plc (AIM: EDEN), a leader in sustainable biopesticide and
biocontrol products, is pleased to announce that it has received regulatory
approval in Mexico for Novellus®+, a new, enhanced version of its flagship
fungicide, MevaloneÒ. The product's regulatory approval applies to its use
against botrytis on a range of horticultural crops, comprising grapes,
tomatoes, peppers, potatoes, strawberries, blueberries, raspberries,
gooseberries, eggplant, okra, as well as several other high value fruit and
vegetables.

 

Novellus+ will be exclusively distributed and sold by Sipcam Oxon's Mexican
subsidiary, Advan Mexico SA de CV ("Advan"). Advan is one of Mexico's largest
agrochemical input providers and supplies an extensively network of farmers
across the nation.

 

This latest authorisation is Eden's second authorised product in Mexico,
having previously obtained regulatory approval for its bionematicide,
Cedroz™, in 2019.  The addition of Novellus+ is expected to meaningfully
contribute to the Company's revenues in the coming seasons.

 

The Mexican agricultural sector is recognised for being a diverse market with
its wide variety of crops in multiple categories. Mexico ranks with the
world's largest 15 economies and is home to a number of leading international
organisations, accompanied by world class universities and research centres
specialised in crop science. A large share of Mexico's agricultural production
is exported, with the US as its largest export market. Such exports demand
high quality production standards and a strong pressure for residue-free
harvests from the food chain to meet strict cross-border regulations. Mexican
exports of berries to the US represented approximately $3.5 billion in 2022,
with tomatoes and peppers constituting approximately $2.5 billion and $1.6
billion(1) respectively.

 

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

 

"Given the significance of Mexico's agricultural exports, the approval for
Novellus+ in Mexico marks an important milestone for the Company as we
continue to grow our product sales across North America. Critically, this
latest approval includes an extensive range of crops which means that we are
able to take advantage of the diverse nature of Mexico's agricultural market
as well as its standing as one of the world's largest crop producing nations.

 

This is also an exciting development as Novellus+ represents an evolution of
Mevalone, allowing improved rates in the field, high levels of efficacy and a
broader list of targets, all contributing to a larger addressable market in
select territories. Registration efforts are also well underway in several
additional countries, and we look forward to providing further updates on the
growth of Novellus+ within our portfolio.

 

We believe that the sustainability and efficacy of Novellus+ will stand our
product apart in a growing market, particularly as local regulations
increasingly demand strict control of pesticide residues on fruit and
vegetables in order to meet consumer expectations and international
standards."

 

Giulio Testa, Product Manager Biorationals, Sipcam Oxon, commented:

 

"Sipcam Oxon is excited about the new registration of Novellus+ in Mexico.
This milestone further strengthens the product development pipeline in key
markets where Sipcam Oxon operates through its affiliates. With its high-value
crops and vegetables, primarily grown for export, Mexico offers significant
market potential for botanical products like Novellus+. The successful
development of Novellus+ highlights the fruitful collaboration between Eden
and Sipcam, combining their expertise to create an enhanced formulation that
delivers consistent efficacy and versatility."

 

 

 

(1) SOURCE:
https://www.ers.usda.gov/topics/international-markets-u-s-trade/countries-regions/usmca-canada-mexico/mexico-trade-fdi/
(https://www.ers.usda.gov/topics/international-markets-u-s-trade/countries-regions/usmca-canada-mexico/mexico-trade-fdi/)
 

 

 

- ENDS -

 

 

For further information contact:

 

 

 Eden Research plc                                                 www.edenresearch.com (http://www.edenresearch.com/)
 Sean Smith                                                        01285 359 555

Alex Abrey

 Cavendish Capital Markets Limited (Nominated advisor and broker)
 Giles Balleny / George Lawson (Corporate Finance)                 020 7397 8900

 Charlie Combe (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 targets fungal diseases, such as Botyrtis cinerea, powdery
mildew, and downy mildew, affecting 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, EcovelexÔ 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, US 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 the Company still holds to date. The Green
Economy Mark 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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