Agreement with Phytalexin Limited

RNS Number : 5816Z

Eden Research plc

19 March 2012

 



19 March 2012

GB0001646941/GBP/PLUS-exn

EDEN RESEARCH PLC

("Eden" or the "Company")

Agreement with Phytalexin Limited for head-lice product

Eden Research plc, the agrochemical and encapsulation development company, is pleased to announce that it has signed a licence agreement with Phytalexin Limited ("Phytalexin").

Under the licence, Phytalexin has been granted exclusive rights to Eden's formulations and encapsulation technologies primarily for use as a head-lice product.

Phytalexin has been set up by David Taylor, a co-founder of Kerris Pharmaceuticals Ltd, the company that developed the technology behind the very successful Hedrin range of head-lice treatments. Under its marketing partner, Thornton and Ross, Hedrin quickly gained 40% of the UK market and is now gaining share in most European markets, South America and Australia.

Eden has the right to appoint one of its directors to the Board of Phytalexin.

Sir Ben Gill, Chairman of Eden, said, "Eden has had a head-lice product in its portfolio of products for a number of years which was proven to be very effective in killing both the lice and the eggs. With the added benefit of the encapsulation technology, it should be possible to create a novel, attractive, effective and naturally derived product, which we believe is important given that it will be mainly applied on children.

We needed to find a partner who had the experience and ability to take this product forward and believe we have found this in David Taylor and his Phytalexin team."

The Directors of Eden are responsible for the contents of this announcement.

Enquiries:

Eden Research plc                                                                                                           01993 862761

Clive Newitt, Managing Director                                                                                             

Zeus Capital Limited                                                                                                      0161 831 1512

Ross Andrews/Brian Stockbridge

Notes:

Eden has developed a terpene-based encapsulation technology which uses yeast cells to deliver a slow release of natural compounds for agricultural and non-agricultural uses.

Terpenes are natural compounds which function as defence mechanisms in many plant groups and are released in response to infection, attack by pests, stress or mechanical injury. Terpenes are already widely used in the food flavouring, cosmetic and pharmaceutical industries.

Historically, terpenes have had limited commercial use in the agrochemical sector due to their volatility, phytotoxicity and poor solubility. Eden's platform encapsulation technology provides a unique, environmentally friendly solution to these problems and enables terpenes to be used as effective, low-risk agrochemicals.

The next-generation encapsulation technology, licensed from University of Massachusetts Medical School ("UMMS") recently, provides significant additional benefits to the original system as it allows release to be controlled by environmental factors rather than relying solely upon the chemistry of the substances used. This means that there is more control over the timing of the release of the active compound being carried allowing for further reduction in chemicals applied whilst ensuring maximum effectiveness.

The UMMS license also significantly expands the potential use of the Eden technology in non-agricultural applications such as health and beauty, cosmetics and animal health.

For more information about Eden, please visit www.edenresearch.com  

 

END

 

 

AGRJLMRTMBMBMBT