REG - Eden Research plc - Biofungicide Label Extension in Spain

Eden ResearchAnnouncement

24/06/2024 07:00

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RNS Number : 4851T  Eden Research plc  24 June 2024

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Market Abuse Regulation (EU) No. 596/2014 (the "UK MAR") which is part of UK
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now considered to be in the public domain.

 

24 June 2024

 

 

Eden Research Plc

("Eden" or "Company")

 

Biofungicide Label Extension in Spain

 

Eden Research plc (AIM: EDEN), the AIM-quoted company focused on sustainable
biopesticides and plastic-free formulation technologies for use in the global
crop protection, animal health and consumer products industries, announces
that its flagship biofungicide has received authorisation for use in new crops
and fungal pathogens in Spain.

 

Mevalone(®), marketed as Araw(®) in Spain by Sipcam Iberia ("Sipcam"),
Eden's commercial partner in Spain, Portugal and several other countries, will
now be permitted for use against powdery mildew on 22 new crops, botrytis
cinerea on 20 new crops, rust disease on 8 new crops, and sclerotinia on 4 new
crops. These new horticultural crops include a wide range of species such as
avocados, kiwis, mangos, cherries, chickpeas, green beans, asparagus, leeks,
and artichokes.

 

Araw has been a well-established solution to prevent botrytis in grapes since
it was launched in Spain in 2016. Following the first label expansion in 2021,
Araw has become the reference biofungicide in a wide range of horticultural
crops and berries, including blueberry, tomato, cucumber and lettuce.

 

Araw helps growers to meet the highest quality standards and a large
percentage of this produce is exported to other EU countries, as well as the
UK and other premium markets. This has led to a significant increase in the
commercialised volumes of Araw sold in Spain in recent years.

 

This newly expanded label makes Araw one of the most versatile and reliable
solutions to prevent fungal diseases in many crops under organic and
conventional agriculture. Thanks to this new authorisation, obtained through
Sipcam's local regulatory team, all relevant horticultural crops in Spain can
now be protected with Araw representing an excellent opportunity in several
crops of growing importance, such as avocado, mango, and almond, which has
become the third largest tree crop in Spain after olives and grapes. Spain
boasts the largest cultivated area of almond trees in the world and ranks
third in terms of overall production. Eden anticipates that this growth of the
addressable market for Araw will contribute to revenue in 2025 and beyond.
Further details of this expansion will be provided in due course as
commercialisation commences.

 

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

 

"Today's announcement is an excellent demonstration of our strategy to pursue
growth opportunities through both new product introductions and with existing
products by targeting new crop types and new disease targets. We are delighted
to build on the success of our longstanding relationship with Sipcam. They
have done an outstanding job of making the Iberian region an important and
strong revenue-generating territory for the Company. This label extension
represents a significant additional growth opportunity for us. It not only
includes numerous new crops and diseases, but it also includes a number of
high-value crops that are particularly disease prone."

 

 

For further information contact:

 

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

Alex Abrey

                                                                 01285 359 555

 Cavendish Capital Markets Limited (Nominated advisor and broker)
 Giles Balleny / George Lawson (corporate finance)                 020 7220 0500

Charlie Combe (corporate 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 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 seed treatment product, Ecovelex 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, U.S. 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 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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