Regulatory Application for Ecovelex in the UK

Eden Research plc

03 July 2023

 

As the information in this release pertains to EDEN RESEARCH PLC, this announcement is deemed to constitute inside information as stipulated under the retained EU law version of the Market Abuse Regulation (EU) No. 596/2014 (the "UK MAR") which is part of UK law by virtue of the European Union (Withdrawal) Act 2018. The information is disclosed in accordance with the Company's obligations under Article 17 of the UK MAR. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

03 July 2023

Eden Research

("Eden" or "the Company")

Regulatory application for authorised use of Ecovelex™ in the United Kingdom

Jointly developed with Corteva Agriscience, the seed treatment product helps farmers safely repel birds and protects crop yields.

Eden Research plc (AIM: EDEN; OTCQB: EDNSF), the AIM-quoted company focused on sustainable biopesticides and plastic-free formulation technology for use in the global crop protection, animal health and consumer products industries, today announces that it has applied for the authorisation of Ecovelex™ in its home country, the United Kingdom, following the recent application for authorisation in the European Union. 

Developed by Corteva Agriscience and Eden over the past three years, Ecovelex represents a new entrant into the seed treatment market and is intended to replace conventional chemicals banned in the EU and UK. It has been developed to tackle crop destruction caused by birds, a major cause of losses in maize and other crops.

Ecovelex works by affecting the bird's olfactory system, creating an unpleasant taste or odour that repels the 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 and formulated using the Company's Sustaine® microencapsulation system, supporting farmers as they strive to meet consumer and regulator demands for more sustainable agriculture.

Sean Smith, CEO of Eden Research plc, said:

"Following our three-year collaborative development efforts with Corteva, we are pleased to be pursuing regulatory clearance in our home country.  I am particularly proud of our Oxfordshire-based team that led the technical development of Ecovelex, and we can truly say that this is a home-grown solution to a problem that impacts farmers in the UK and elsewhere every year.  Eden's collaboration with Corteva Agriscience over the past several years has been highly productive, and I am pleased to see the first commercial benefits from these activities within reach. 

In late May 2023, Eden submitted the regulatory dossier and application to Austria, who will act as the interzonal rapporteur member state on behalf of the EU. Review and authorisation can take between 18 and 24 months, with each EU member state then able to ratify the authorisation or require additional information before granting local authorisations.  It is anticipated that review and eventual authorisation in the UK will take a similar amount of time, though it should be noted that the pace of regulatory actions is controlled by the relevant authorities with whom Eden will work to ensure that we are able to bring our effective, sustainable solution to the aid of farmers affected by bird damage to their crops as quickly as possible."

For further information contact:

Eden Research plc
Sean Smith Alex Abrey	www.edenresearch.com [phone]
Cenkos Securities plc (NOMAD and Broker)
Giles Balleny / Max Gould (corporate finance) Michael Johnson (sales)	[phone]
Hawthorn Advisors (Financial PR)
Simon Woods Felix Meston	[e-mail]

Notes to Editors:

About Eden

Eden 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 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, please visit:  www.edenresearch.com.

Follow Eden on LinkedIn, Twitter and YouTube. 

About Corteva 

Corteva, Inc. (NYSE: CTVA) is a publicly traded, global pure-play agriculture company that combines industry-leading innovation, high-touch customer engagement and operational execution to profitably deliver solutions for the world's most pressing agriculture challenges. Corteva generates advantaged market preference through its unique distribution strategy, together with its balanced and globally diverse mix of seed, crop protection, and digital products and services. With some of the most recognised brands in agriculture and a technology pipeline well positioned to drive growth, the company is committed to maximising productivity for farmers, while working with stakeholders throughout the food system as it fulfils its promise to enrich the lives of those who produce and those who consume, ensuring progress for generations to come. More information can be found at www.corteva.com. 

Follow Corteva on Facebook, Instagram, LinkedIn, Twitter and YouTube. 

 

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