AGM Statement

RNS Number : 6997P

Eden Research plc

10 June 2015

 



Eden Research plc

("Eden" or "Company")

AGM Statement

Eden Research Plc (AIM: EDEN), the AIM-listed natural micro-encapsulation company, will hold its Annual General Meeting today at 12pm at The Four Pillars Hotel, Ducklington Lane, Witney, OX28 4EX.

Following the formal proceedings of the meeting the Chairman, Tom Lupton, will make the following statement:

I am delighted to report that since the publication of the 2014 Annual Report and Accounts we have been able to announce the EU approval of our first agrochemical product, 3AEY.

Our shareholders know that the process that we have gone through to achieve this key milestone has been lengthy and not without issue and, as such, is a momentous achievement for the Company. The EU has one of the toughest regulatory regimes in the world and one of the very few that requires manufacturers to demonstrate product efficacy in addition to safety.

The EU approval paves the way for sales in France, Spain, Italy, Greece, Portugal and the Balkans, a list that includes three of the top five grape producing countries worldwide. 

The potential for sales of 3AEY through our existing licensees (Sumi-Agro France, Sipcam and Redestos) is significant in Europe alone, but the opportunity is even more valuable when markets outside of the EU, such as the US and South America, are considered and we are making progress in arranging commercial terms with new licensees in these regions.

The approval of 3AEY also provides comfort to our other partners, such as Eastman who have the exclusive option on our nematicide product, that our safe, effective and commercially viable products meet the high standards set by the EU regulatory process.

Moving forward, we expect to see further agrochemical products being developed and commercialised for use in a wider range of crops; to further develop co-encapsulation using existing actives substances with our GO-E technology; to see product sales in the animal health sector through our licensee, Bayer Animal Health; to enter into agreements in other areas such as food ingredients and flavourings, cosmetics, nutraceuticals and human health.

We believe we are well placed to realise the commercial potential of our technology.

After twenty years of service with Eden, we are saying goodbye to Ken Brooks, Non-executive Director, who has stepped down from the Board today. Ken has been instrumental in the running of the Company and has provided invaluable support and advice over the years which has helped Eden to become what it is today. We are very grateful to him and wish him well for the future.

Over the last year we have strengthened our management team with the appointment of Sean Smith as CEO, and we are delighted to have Rob Cridland join the Board as Non-executive Director. We intend to strengthen our team further over the next year.

In addition, Sean Smith, Chief Executive Officer, will provide shareholders with a short background presentation on the Company's technology and business model. The presentation is available on the Company website here:

www.edenresearch.com/html/group_profile/presentation.asp

Enquiries:

Eden Research plc	www.edenresearch.com
Sean Smith, Chief Executive Officer	Tel: [phone]
Alex Abrey, Chief Financial Officer
W H Ireland Limited	www.wh-ireland.co.uk
John Wakefield / Ed Allsopp	Tel: [phone]
Walbrook PR Ltd	Tel: [phone] or [e-mail]
Paul McManus	Mob: [phone]
Lianne Cawthorne	Mob: [phone]

Notes:

Eden is an early stage revenue company with intellectual property and expertise in encapsulation, terpenes and environmentally friendly technologies to provide naturally occurring solutions to the global agrochemicals industry, the animal health industry, and consumer products.

Eden's encapsulation technology harnesses the biocidal efficacy of naturally occurring chemicals produced by plants (terpenes) and can also be used with hydrophobic compounds both natural and synthetic. The technology uses yeast cells to deliver a slow release of natural compounds for agricultural and non-agricultural uses. 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.

With leading consultants in their respective fields, the Company is developing these technologies through innovative research and a series of commercial production, marketing and distribution partnerships.

The Company has a number of patents and has a pipeline of products at differing stages of development targeting specific areas of the global agrochemicals industry. To date, the Company has invested in the region of £12m in developing and protecting its intellectual property. Revenues earned by the Company have been modest whilst the Company has concentrated on securing patent protection for its intellectual property, identifying suitable industrial partners and entering into licence agreements.

Eden was admitted to trading on AIM on 11 May 2012 and trades under the symbol EDEN.

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

 

END

 

 

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