Preliminary results

30 May 2014

Eden Research plc (AIM: EDEN), the AIM listed natural micro-encapsulation company, announces its unaudited preliminary results for the year ended 31 December 2013. In the year the Company has met key milestones as part of its evolution from a research and development company to a commercial business.

Financial highlights

• Revenue of £0.08m (2012: £0.04m)
• Operating loss of £1.58m (2012: £1.60m)
• Loss before tax reduced to £1.63m (2012: £2.28m) - significant reduction in finance costs
• Loss per share of 1.30p (2012: 2.11p loss)
• Cash in bank of £0.31m (2012: £0.34m)

Operational highlights

• Major milestone achieved with EU approval of three active substances used in 3AEY
  • First country approval expected by end 2014, with remaining countries in Spring 2015
  • Product approvals advancing in line with expectations
  • Additional revenues through access to regulatory data and dossiers
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• Development of products in human health, cosmetics, flavours & fragrances, and animal health
• Proprietary technology rebranded as GO-E™ to maximise exploitation of IP base
• Exclusive, worldwide licence agreement with Neo-Pharma Innovations Ltd for head-lice product
• IP protection expanded with further patent grants

Post period end

• Sir Ben Gill, Non-Executive Chairman passed away on 8 May 2014
• Tom Lupton appointed as Non-Executive Chairman on 19 May 2014
• First products using Eden's encapsulation technology launched by TerpeneTech in France

Commenting on outlook, Tom Lupton, Chairman said: "With the significant EU regulatory hurdle having been surmounted, national product approvals just around the corner and product sales already underway, I am very optimistic that Eden has a bright future and that all of the hard work and significant investment is now coming to fruition.

"The Board is confident that it will be able to deliver against the shareholders' high expectations. In addition to new licence agreements being signed and royalties being received within the next twelve months, it is the Board's intention to re-organise the business so as to further protect its IP and maximise shareholder value from each business sector where GO-E™ is applicable.

"This, we believe, will clarify Eden's valuable business proposition to investors and also strategically place Eden in the sights of larger companies who are interested in adopting our various technologies for their particular market sector."

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