News Archive
Terpene Cross Licensing Agreement
Eden Research plc ("Eden"), a UK leading agrochemical and development company, and owner of intellectual property rights in terpene formulations and encapsulation ("Eden Technology"), is pleased to announce that it has entered into a cross-licensing and data access agreement with Xeda International S.A. ("Xeda"), itself the owner of intellectual property rights covering formulations of any hydroxyl function terpenes ("Xeda Formulations").
Under the agreement Eden will grant Xeda an exclusive license to manufacture and market products using the Eden Technology in post harvest fruit and vegetable applications in the licensed territories. Xeda will make an up-front payment 12 months from the date of grant of the licence of €150,000, and royalties will be on 20% of the gross margin on sales of products. Eden will also provide product development support to Xeda on terms to be agreed.
Eden will also take an exclusive licence to manufacture and market the Xeda Formulations.
Tim Griffiths, Chief Executive of Eden Research, said:
"This is great news for Eden and we look forward to working with Xeda to maximise opportunities for our shareholders."
For further information:
| Tim Griffiths, Chief Executive | Eden Research plc | Tel: 01993 868844 |
| Jonathon Brill /Caroline Stewart | Financial Dynamics | Tel: 020 7831 3113 |
Notes to editors
About Eden Research plc
Eden Research plc is a UK registered company, whose securities are traded on Ofex, specialising in agrochemical and solutions for businesses through the application of an intellectual property bank and licensing projects.
In particular, Eden focuses on developing natural solutions and products for the agricultural sector through the application of terpene based chemistry and other environmentally friendly technologies.
Terpenes are naturally occurring, low-toxicity botanical substances often produced by plants as part of their defence mechanisms. Working closely with several major universities and International research organisations, Eden develops products for licensing on major companies for agricultural application as a pesticide and in the treatment of bacterial and fungal infection of plants, soil infestations and post harvest treatments.
The Directors of Eden Research plc accept responsibility for this announcement.