REG - Eden Research plc - Regulatory update

Eden ResearchAnnouncement

10/05/2022 07:00

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RNS Number : 8493K  Eden Research plc  10 May 2022

10 May 2022

Eden Research Plc

("Eden" or "Company")

Regulatory update: Progress towards EPA approval and further authorisation in
Italy

Eden Research plc (AIM: EDEN), the AIM-quoted company focused on sustainable
biopesticides and a plastic-free formulation technology for use in global crop
protection, animal health and consumer products industries, announces that it
has passed a key milestone in the US for the approval of its products,
Mevalone(®) and CedrozÔ. In addition, Eden's biofungicide, Mevalone(®), has
received authorisation for use on new crops in Italy for the control of the
disease Botrytis cinerea, a destructive fungal pathogen affecting many plant
species, as well as authorisation for use against additional fungal pathogens
Powdery Mildew and Sclerotinia.

 

Progress towards EPA approval

 

The United States Environmental Protection Agency (EPA) has confirmed that it
has granted Eden's plastic-free, microencapsulation technology, Sustaine(®),
an exemption from the requirement of a tolerance for residues in pesticide
formulations in pre-harvest applications to crops. This is a key milestone
with Eden now in the final stages of a process which should result in its
three active ingredients (eugenol, geraniol and thymol) and two formulated
products (Mevalone and Cedroz) receiving authorisation in the US in 2022.

 

The addressable markets in the US, based on the products' current labels, are
approximately €94m for Mevalone and €189m for Cedroz. With the demand for
biopesticides such as these increasing significantly in the US due to rising
regulatory restrictions for conventional chemicals, the tolerance exemption
and subsequent approvals will present a significant opportunity for Eden.

 

Further Mevalone authorisation in Italy

 

Mevalone is sold exclusively in Italy by Eden's commercial partner, Sipcam
Oxon SpA ("Sipcam"), under the brand name "3logy(®)".

 

Eden announces that it has been granted a label extension for 3logy in Italy,
which authorises 3logy to be used against two new fungal pathogens and adds a
number of new crop types to the label including berry fruits, tomato,
watermelon, salad leaves, herbs,  aubergines, cucumbers and peppers.

 

Product applications are permitted close to the point of harvest, with most
new uses having a pre-harvest interval of just one day. 3logy affords growers
maximum flexibility in their crop protection programmes as it is free from
residues and provides the important benefit of avoiding product rejections by
wholesalers and food retailers which can result from higher-than-allowed
pesticide residue levels.

 

Sipcam has extensive experience with 3logy and has recently supported
significant label extensions in Spain and Portugal as well as in Italy. This
approval in Italy will enable Sipcam to expand the market for 3logy across
thousands of hectares of new high value crops, such as strawberries where over
14,000 tonnes are exported from Italy alone on an annual basis.

 

 

 

 

 

 

For further information contact:

 

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

Alex Abrey

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

Michael Johnson (sales)

 Hawthorn Advisors (Financial PR)
 Victoria Ainsworth                                    eden@hawthornadvisors.com (mailto:eden@hawthornadvisors.com)

Stephen Atkinson

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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