News Archive
Results for the year ended 31st December 2006
Eden Research plc (EDEN), the leading UK agrochemical development and intellectual property company, today announces its Annual Results for the year ended 31 st December 2006.
Eden seeks to develop commercial, natural solutions to agricultural and healthcare related problems where there are no current alternatives available, utilising the low risk biocidal properties of terpenes. The Company is currently undertaking the formality of regulatory testing of its active substances as well as conducting a wide variety of efficacy trials worldwide with contract research organisations, academics, and commercial partners. It has continued to attract interest from major long-term potential partners, and has concluded two significant deals in the last year.
- Commercial partnerships were signed with Cheminova A/S and Zagro Singapore PTE Ltd, two leading international crop protection product manufacturers & distributors
- The excellent efficacy and cost competitiveness of Eden’s lead product (3AEY) for control of botrytis, a major disease of fruit and vegetables, was reconfirmed under tough conditions in field trials conducted in Spain, Portugal and Greece
- Excellent control of Powdery Mildew was seen in extensive glasshouse trials conducted in Spain and Greece
- Further positive results were observed in a suite of nematode control screening trials conducted in the USA, South Africa, Greece and Belgium. Following this, further field trials against nematodes were initiated
- The filing of additional pest and disease control patents
- Joint venture research projects continue in Europe, the USA, and South East Asia.
- A net loss was incurred of GBP2,587,589 (2005: GBP2,577,607), including amortisation of GBP1,111,904 (2005: GBP1,438,271)
Tim Griffiths, Chief Executive, Eden Research plc said:
“Following the recent conclusion of a major agreement with Cheminova A/S and finalisation of earlier co-operative agreements with Xeda S.A. and Zagro pte., we move forward with renewed confidence for the Company’s next stage of development.
“Regulatory activities related to our lead Botryticide product (3AEY) and its active ingredients are progressing well, following successful and supportive discussions with European regulatory authorities. Early results from the statutory testing of our active ingredients in the EU have confirmed US observations about their safety, so we do not anticipate any obstacles to us completing our first EU wide regulatory dossier well before the end of 2007. This will allow a number of EU states to grant regulatory approval for the product shortly afterwards, allowing Redestos in Greece and surrounding territories, and Cheminova in the rest of Western Europe to commence sales.
“Achieving regulatory approval for the active substances in the botryticide product has an added benefit in that the time to market of new products showing efficacy against pests and diseases which contain the same ingredients is significantly reduced and more cost effective.
“I believe that our increasing commercial success confirms the validity of the independent valuation and market analysis presented to shareholders at the last two AGMs and with the progress we have made during 2006, and with our world-class partners, we believe this is an exciting time for Eden.”
The full results are available to download in PDF formatFor further information:
| Tim Griffiths, Chief Executive | Eden Research plc | Tel: 01993 868844 |
| Jonathon Brill /Caroline Stewart | Financial Dynamics | Tel: 020 7831 8113 |