Bioinsecticide Field Trials

Eden Research plc

27 June 2024

 

27 June 2024

 

Eden Research Plc

("Eden" or "Company")

Bioinsecticide Field Trials

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, is pleased to provide an update on the development of its bioinsecticide product following the receipt of recent field trial reports. The trials, which were undertaken by several potential commercial partners for the product, as well as by Eden, represent a significant milestone in the process of bringing the Company's new bioinsecticide to market as Eden continues to develop and expand its product portfolio, in line with its business strategy.

In the more than 30 laboratory trials and more than 140 field trials run in Europe and the United States, the developmental bioinsecticide product was tested against aphids, spider mites, whiteflies and other target pests at various stages of their development. Results showed strong efficacy against all life stages of these key pests and equivalent or superior performance when compared with registered biological reference products produced by some of the world's leading biochemical companies.

Every year, up to 40% of crops are lost due to plant pests and diseases, whilst the United Nations estimates that 50% more food will be needed to feed the world's growing population by 2050. Insects remain one of the most significant challenges to farming efforts across the globe, causing both direct and indirect damage to crops through feeding and the transmission of disease, costing the global economy an estimated $70 billion a year, according to the UN's Food and Agriculture Organization. At the same time, conventional insecticide products face increased regulatory scrutiny due to their potential for harmful effects on the environment and wildlife, including bees and other beneficial insects. Demand is high for sustainable products, like Eden's bioinsecticide, that can provide farmers with sustainable and competitive alternatives, providing similar ease-of-use, efficacy, safety, cost and reliability, representing a significant global market opportunity for Eden.

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

"These promising results further demonstrate Eden's ability to develop market-leading biological formulations at a time when conventional insecticide products are being phased out due to regulatory action. The trials, undertaken by Eden and independently by several potential commercial partners interested in gaining rights to the product, show extremely promising efficacy and consistency in combating these pests known to critically impact crop yields. This is an exciting step in our journey to bring this product to farmers who are looking for effective, sustainable solutions to control pests, whilst also making further progress against our product diversification and business growth objectives."

For further information contact:

Eden Research plc
Sean Smith Alex Abrey	www.edenresearch.com 01285 359 555
Cavendish Capital Markets Limited (Nominated advisor and broker)
Giles Balleny / George Lawson (corporate finance) Charlie Combe (corporate broking) Michael Johnson (sales)	020 7220 0500
Hawthorn Advisors (Financial PR)
Victoria Ainsworth	[e-mail]

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.

 

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