News Archive
AGM Statement
Eden Research plc, a leading UK agrochemical development company, announces that at its Annual General Meeting held today all resolutions contained in the notice of meeting were duly passed.
At the meeting, Sir Ben Gill, Non-executive Chairman, made the following statement:
"Recent changes in European Union legislation have meant that there is to be a significant reduction in the portfolio of available agrochemicals to control pests and diseases at a time when there is increasing concern about the future of our food supplies and the need to increase global production to meet the burgeoning demands for food and for crops being used for energy production.
The European Union legislation changes will also favour and encourage the development of "green" products which strikes to the heart of the research and development work that Eden is involved in. As a result the interest in our products continues to be substantial and we look forward to successful exploitation of the substantial number of options open to us.
Our East African partners, Lachlan Kenya Limited, are now compiling and will submit a registration dossier for 3AEY based on the Eden EU dossier. This will gain access for Eden's lead product and subsequent products into the valuable Kenyan cut flower, fruit and vegetable markets.
Environmental Solutions (North Africa) have been appointed as a distribution partner to Eden and registration documents for 3AEY have been compiled for submission into key countries such as Algeria. This submission will also help support further Eden products in other country and crop markets in this region. Recent excellent trial results on other crops in Egypt show the significant potential in the Middle East and Eden is now in negotiations to expand the licences there.
Both Cheminova and Redestos are continuing their work to collate the necessary information for the submission of the dossiers required for national approvals for 3AEY, which will ultimately lead to sales of product throughout Europe and the rest of the World.
Following consultation with the UK regulatory authority, CRD (previously PSD), on the 3AEY EU dossiers, several minor points raised have been satisfactorily addressed by our regulatory consultants JSC International and the final dossier has been submitted to CRD.
To further extend our IP value and product portfolio, formulation work has been on-going and a range of terpene combinations have been encapsulated for large scale screening against key pests in new areas such as grain storage pests and household/personal care treatments.
We are currently in discussion with various parties for the licensing of our nematode and other products and, as such, hope to announce details of those potential agreements in due course together with news on the several co-encapsulation positions where there has been major interest in utilising our platform technology to enhance efficacy and generate new intellectual property positions for our partners.
These deals should enable the business to expedite the commercialisation of its product pipeline and maximise the value of the Company's intellectual property. The further proof of the technology will also pave the way for a smooth transition to a more senior market next year."
Sir Ben Gill, Non-executive Chairman
For further information please contact:
Tim Griffiths, Chief Executive, Eden Research plc
T: 01993 868844
Matthew Robinson, FinnCap
T: 020 7600 1658