REG - Eden Research plc - Regulatory authorisation for Mevalone in Poland

Eden ResearchAnnouncement

17/04/2023 07:00

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RNS Number : 3414W  Eden Research plc  17 April 2023

17 April 2023

 

 

Eden Research Plc

("Eden" or "Company")

 

Eden obtains authorisation for Mevalone in Poland

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, announces
that its flagship biofungicide, Mevalone(®), has received regulatory
authorisation in Poland. The certification will allow farmers to apply
Mevalone to their wine and table grapes to protect and treat outbreaks of
Botrytis cinerea as well as on apples to prevent post-harvest storage diseases
thereby helping to reduce food waste in the supply chain.

 

SumiAgro Europe has been appointed as the Company's exclusive distributor of
Mevalone in the territory with product distribution expected to commence
imminently. SumiAgro has extensive experience with Mevalone, having previously
supported Eden with significant label extensions in France.

 

Poland represents a significant new market for Eden and the commercialisation
of Mevalone, given it is the EU's largest producer of apples, producing almost
2.5 million tons annually. Eden expects to receive additional regulatory
approvals in due course in additional Central European member states such as
Germany, Austria, and Hungary, where high levels of wine production are found.
Central Europe is a strategic target market for Eden with the ultimate
addressable market for Eden's products being comparable in value to that of
Southern Europe and potential sales of Mevalone estimated to peak at €3.2m.

 

Sean Smith, Chief Executive Officer of Eden, said:

 

"Our regulatory approval in Poland marks the beginning of our commercial push
into Central Europe, and we are excited by further approvals in the region in
due course. While the Polish grape market is relatively small when compared
with neighbouring Central European countries, we are encouraged by the
opportunities that lie within the apples segment for post-harvest storage
disease control. Pre-harvest application of Mevalone helps to protect produce
from diseases that can develop during the long storage period, further
demonstrating the versatility within our product offering.  We are proud to
be able to provide farmers with a highly effective crop protection solution
that not only supports sustainability in agriculture but also helps to reduce
food waste in the supply chain.

 

"Furthermore, we are delighted to continue our partnership with SumiAgro, a
company with significant influence across Central Europe and the ability to
gain market share. We expect distribution of our product to commence
imminently with meaningful sales to be realised in the upcoming seasons."

 

 

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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