Eden News

This announcement contains information which, prior to its disclosure, was considered inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 (MAR).

Eden Research plc (AIM: EDEN), the AIM listed company that provides breakthrough natural microencapsulation technologies to the global agrochemicals, animal health and consumer products industries, announces its preliminary results for the year ended 31 December 2018.

Financial highlights:

• Revenue of £2.8m (2017: £1.9m)
• Operating loss of £0.5m (2017: £0.8m)
• Loss before tax of £0.5m (2017: £0.8m)
• Loss per share of 0.16p (2017: 0.33p)
• Net cash of £2.5m (2017: £3.7m)
• Operating profit, before non-cash items (share-based payment charge and amortisation), and one-time items (licence renewal fee and royalties refund) of £0.02m (2017: loss £0.4m)
• Product sales increased 112% to £1.6m (2017: £0.8m)
• Upfront and milestone payments of £1.2m (2017: £1.1m)

Commercial highlights:

• Multiple distribution agreements signed with Sipcam SpA (“Sipcam”) for Mevalone in ten new territories, for which a fee of €0.9m (£0.8m) was paid to Eden
• Exclusive distribution agreement signed with Sipcam for its fungicide product Novellus to be sold in Australia and New Zealand
• Successful positioning of Mevalone as an early-season treatment contributing to product sales growth of 112%
• A healthy pipeline of collaborations progressing with majors in Eden’s distributor network

Operational highlights:

• Lykele van der Broek, former COO of Bayer Crop Science and former Head of the Animal Health division of Bayer Health Care, appointed as Chairman with effect from 1 January 2018
• Regulatory applications submitted in new countries for Mevalone and Cedroz, including the US which is currently undergoing scientific review by the United States Environmental Protection Agency (“EPA”)
• Regulatory clearance received for head lice treatment product by TerpeneTech to be sold in the European Economic Area

Lykele van der Broek, Chairman commented: “We have undergone a year of significant growth at Eden in 2018, with a boost to revenue from product sales and the contribution of Sipcam SpA exercising it’s option for new distribution agreements in ten additional territories.

“Behind the scenes, significant regulatory activity has been progressing with promising potential to unlock future product sales expansion for the business. The Board is currently prioritising the long-term viability and growth potential of the Company and is looking forward to making further commercial progress in 2019.”

For further information contact:

Notes:

Eden Research is a technology development and commercialisation company with intellectual property and expertise in encapsulation, terpenes and environmentally friendly technologies to provide naturally occurring solutions for the global agrochemicals, animal health, and consumer product industries.

Eden's encapsulation technology harnesses the biocidal efficacy of naturally occurring chemicals produced by plants (terpenes) and can also be used with both natural and synthetic compounds to enhance their performance and ease-of-use. The technology uses yeast cells that are a by-product of numerous commercial production processes to deliver a slow release of natural compounds for agricultural and non-agricultural uses. Terpenes are already widely used in the food flavouring, cosmetics and pharmaceutical industries.

Historically, terpenes have had limited commercial use in the agrochemical sector due to their volatility, phytotoxicity and poor solubility. Eden's platform encapsulation technology provides a unique, environmentally friendly solution to these problems and enables terpenes to be used as effective, low-risk agrochemicals.

Eden is developing these technologies through innovative research and a series of commercial production, marketing and distribution partnerships.

The Company has a number of patents and a pipeline of products at differing stages of development targeting specific areas of the global agrochemicals industry. To date, the Company has invested in the region of £13m in developing and protecting its intellectual property and seeking regulatory approval for products that rely upon the Company's technologies. Revenues earned by the Company to date have been modest whilst the Company has concentrated on securing patent protection for its intellectual property, gaining regulatory approvals, identifying suitable industrial partners, and entering into commercial agreements.

In May 2013, the three actives that comprise Eden's first commercial product, 3AEY, were approved as new ingredients for use in plant protection products. This represented a major milestone in the commercialisation of Eden's technology and is a significant accomplishment for any company. To illustrate this point, it should be noted that in all of 2013 Eden's approvals represented 3 of only 10 new active ingredients approved by the EC.

3AEY has been authorised for sale in Kenya, Malta, Greece, Bulgaria, Spain, Italy, France, Cyprus, Albania, Portugal and the Republic of Macedonia.

Eden was admitted to trading on AIM on 11 May 2012 and trades under the symbol EDEN.

For more information about Eden, please visit: www.edenresearch.com.

Eden Research plc (AIM: EDEN), the AIM listed company that develops and supplies breakthrough biopesticide products and natural microencapsulation technologies to the global crop protection, animal health and consumer products industries, is pleased to provide the following unaudited trading update for the year ended 31 December 2018.

The Company has delivered a pleasing year of growth with revenue for the year expected to be in the region of £2.8m, up 48% from £1.9m in 2017, with a loss before tax of approximately £1.0m (2017: loss of £0.8m).  Statutory operating loss is expected to be c.£0.9m (2017: loss of £0.6m). Operating profit, excluding share-based payment charges, exceptional royalties refund and amortisation, is expected to be c.£0.02m (2017: loss of £0.6m). The majority of revenue was product sales which doubled in 2018 to c.£1.6m from £0.8m in 2017.  The balance of the revenue in 2018, being c.£1.2m, was made up of upfront, milestone and other payments and royalties (2017: £1.1m). The Group’s cash position remains strong with cash at the year-end of c.£2.5m (2017: £3.7m).

In December, the Company’s commercial partner, Sipcam Oxon SpA (“Sipcam”), exercised its option over the exclusive distribution rights in all ten countries covered under the 2017 Evaluation and Option Agreement, for which a fee of €0.9m (£0.8m) has been paid to Eden. As a result, Sipcam will be the exclusive distributor of Eden’s fungicide product, known as Mevalone, in twelve countries including Italy, Spain, USA, China, Brazil and Japan.

During the year, Eden made an application to the US Environmental Protection Agency (EPA) for the regulatory approval of Mevalone, Cedroz (a nematicide product being marketed by our partner, Eastman Chemical) and three active ingredients in the USA. The EPA’s scientific reviews are expected to be completed before the end of 2019. The USA is the largest market in the world for crop protection products and is a major producer of grapes, and the addition of this important country to our commercial footprint is expected to contribute meaningfully to the Company’s revenue in the years to come. Now, with commercial partners in place, we only await the regulatory clearance before sales can commence.  Additional product commercialisation opportunities for new products are expected to be possible once approval of the three active ingredients is granted.

Given the considerable importance of regulatory approvals to the growth of the Company’s business, Eden submitted its application for authorisation of Mevalone in Australia and received approval for authorisation in the Republic of Macedonia.  Furthermore, Eden’s partner, Eastman, is actively pursuing registration of Eden’s second product, Cedroz, in a total of 29 countries.  Initial authorisations are anticipated in 2019, but the precise timing is subject to the successful completion of the regulatory review process in each country.

On 10 October 2018, the Company announced that TerpeneTech, Eden’s associate company, had received regulatory clearance to sell its head-lice product in the European Economic Area. TerpeneTech is now working with its distribution partner to launch that product in the U.K. in 2019.  TerpeneTech is also actively working to establish distribution partners in new territories including elsewhere in Europe and also the United States.

The launch of animal health products in the USA by Eden’s partner, Bayer Animal Health (“Bayer”), has been delayed due to a recently-identified need for additional formulation work on one of the three initial products Bayer has developed. It is now anticipated that the launch of these products will take place in 2019, subject to successful completion of the additional formulation work.  Bayer and Eden are working closely together to expedite matters.

Sean Smith, Chief Executive Officer of Eden, said: “2018 showed continued growth in the sale of Mevalone in southern Europe despite low disease pressure attributed to another hot, dry summer. We are encouraged by the doubling of Mevalone sales during the year as this reflects the increasing acceptance of Mevalone in the market, the optimised product positioning initiated by our partners and its adoption and continued use by growers.

The opportunities in Eden’s core crop protection business are growing well. In addition to the products that Eden has developed and is commercialising through its partners, there are a number of pipeline products which are in the process of being tested by potential partners including several candidate insecticide products which would represent our first entry into the insecticide segment.  Whilst it is early in the development of these formulations, initial results have been encouraging.

Sustaine, Eden’s patented, natural micro-encapsulation technology, is being evaluated by an increasing number of parties, including Sipcam, on a large and growing number of active ingredients used in crop protection.  This technology represents significant medium-term potential for the Company, and we are pleased with the attention it is receiving in the hands of current and new collaborators.

We are pleased with the overall performance of the business in 2018 and believe that we have established an excellent platform from which we can continue to grow both in 2019 and, importantly, the medium and long term.”

For further information, please contact:

Notes:

Eden Research is a technology development and commercialisation company with intellectual property and expertise in encapsulation, terpenes and environmentally friendly technologies to provide naturally occurring solutions for the global agrochemicals, animal health, and consumer product industries.

Eden's encapsulation technology harnesses the biocidal efficacy of naturally occurring chemicals produced by plants (terpenes) and can also be used with both natural and synthetic compounds to enhance their performance and ease-of-use. The technology uses yeast cells that are a by-product of numerous commercial production processes to deliver a slow release of natural compounds for agricultural and non-agricultural uses. Terpenes are already widely used in the food flavouring, cosmetics and pharmaceutical industries.

Historically, terpenes have had limited commercial use in the agrochemical sector due to their volatility, phytotoxicity and poor solubility. Eden's platform encapsulation technology provides a unique, environmentally friendly solution to these problems and enables terpenes to be used as effective, low-risk agrochemicals.

Eden is developing these technologies through innovative research and a series of commercial production, marketing and distribution partnerships.

The Company has a number of patents and a pipeline of products at differing stages of development targeting specific areas of the global agrochemicals industry. To date, the Company has invested in the region of £13m in developing and protecting its intellectual property and seeking regulatory approval for products that rely upon the Company's technologies. Revenues earned by the Company have been modest whilst the Company has concentrated on securing patent protection for its intellectual property, gaining regulatory approvals, identifying suitable industrial partners, and entering into commercial agreements.

In May 2013, the three actives that comprise Eden's first commercial product, 3AEY, were approved as new ingredients for use in plant protection products. This represented a major milestone in the commercialisation of Eden's technology and is a significant accomplishment for any company.  To illustrate this point, one should note that in all of 2013, Eden's approvals represented 3 of only 10 new active ingredients approved by the EC.

3AEY has been authorised for sale in Kenya, Malta, Greece, Bulgaria, Spain, Italy, France, Cyprus, Albania, Portugal and the Republic of Macedonia.

Eden was admitted to trading on AIM on 11 May 2012 and trades under the symbol EDEN.

For more information about Eden, please visit: www.edenresearch.com.

The 2018 results reported above are unaudited, pending completion of the annual audit by KPMG.

Sipcam exercises Option for new distribution agreements in additional territories

Eden Research plc (AIM: EDEN), the AIM listed company that develops and supplies breakthrough biopesticide products and natural microencapsulation technologies to the global crop protection, animal health and consumer products industries, is pleased to announce that its commercial partner, Sipcam Oxon SpA (“Sipcam”) has exercised the option it holds in all of the territories covered by, and pursuant to, the Evaluation and Option agreement the two parties signed, as announced on 30th June 2017.

By exercising its option, and following Eden’s receipt of the €0.9m option exercise fee, Sipcam will be appointed exclusive distributor of Eden’s first fungicide product, known as Mevalone, in the USA, Brazil, Mexico, China, Argentina, Chile, Japan, and South Africa.  Mevalone, which is currently sold throughout Europe and in Kenya, will be marketed by Sipcam following receipt of the requisite approvals in each country.  Eden recently announced the appointment of Sipcam as its exclusive distributor of Mevalone in Australia and New Zealand, thereby bringing the total number of countries in which Sipcam is Eden’s distributor to twelve.  Sipcam is already the exclusive distributor of Mevalone in Italy and Spain (where it is sold as 3logy® and Araw®, respectively), and therefore has good product knowledge and insight into the grape fungicide market, making it well-positioned to commercialise Mevalone in new markets. The new distribution agreements covering China and Japan will mark Eden’s first entry into the Far East and presents a significant opportunity as China is the largest grower of grapes in the world.

Sipcam will be able to sell Mevalone on an exclusive basis, primarily for the treatment of botrytis on grapes. Botrytis is a fungus that affects many plant species, but it is particularly problematic for grape growers due to the rapid progression of the disease and its significant impact on crop yield and wine quality.  Mevalone has been proven to be highly effective in the fight against botrytis, and its efficacy compares favourably with the conventional chemical products that currently dominate the botryticide market, but without the concerns of pesticide residues, long pre-harvest intervals or disease resistance.

In addition to the new distribution agreements to be signed by the two parties, collaboration work continues with Sipcam in respect of Eden’s natural microencapsulation technology, Sustaine™, which is being assessed for synergy with a number of active ingredients used in crop protection. Using the Sustaine technology potentially brings a number of advantages to existing conventional and natural active ingredients such as enhanced efficacy, formulation stability, patent protection, time-release and resistance management.

Sean Smith, Chief Executive Officer of Eden, said: "We are pleased that Sipcam wishes to expand the footprint it has to sell Mevalone in a number of additional territories which shows the confidence and belief that Sipcam has in 3logy and Eden’s Sustaine technology.

“The United States, for example, is the largest market in the world for crop protection products and is a major producer of grapes.  It is also the fourth largest wine producer in the world.  We are pleased to be partnering with Sipcam to tackle the US market, as Sipcam has an experienced team in the US and is well-placed to commercialise Mevalone following receipt of regulatory approval. We anticipate authorisation at the national level in 2019 for our first two products, including Mevalone and our nematicide.”

For further information contact:

Notes:

Eden Research is a technology development and commercialisation company with intellectual property and expertise in encapsulation, terpenes and environmentally friendly technologies to provide naturally occurring solutions for the global agrochemicals, animal health, and consumer product industries.

Eden's encapsulation technology harnesses the biocidal efficacy of naturally occurring chemicals produced by plants (terpenes) and can also be used with both natural and synthetic compounds to enhance their performance and ease-of-use. The technology uses yeast cells that are a by-product of numerous commercial production processes to deliver a slow release of natural compounds for agricultural and non-agricultural uses. Terpenes are already widely used in the food flavouring, cosmetics and pharmaceutical industries.

Historically, terpenes have had limited commercial use in the agrochemical sector due to their volatility, phytotoxicity and poor solubility. Eden's platform encapsulation technology provides a unique, environmentally friendly solution to these problems and enables terpenes to be used as effective, low-risk agrochemicals.

Eden is developing these technologies through innovative research and a series of commercial production, marketing and distribution partnerships.

The Company has a number of patents and a pipeline of products at differing stages of development targeting specific areas of the global agrochemicals industry. To date, the Company has invested in the region of £13m in developing and protecting its intellectual property and seeking regulatory approval for products that rely upon the Company's technologies. Revenues earned by the Company have been modest whilst the Company has concentrated on securing patent protection for its intellectual property, gaining regulatory approvals, identifying suitable industrial partners, and entering into commercial agreements. 

In May 2013, the three actives that comprise Eden's first commercial product, 3AEY, were approved as new ingredients for use in plant protection products. This represented a major milestone in the commercialisation of Eden's technology and is a significant accomplishment for any company.  To illustrate this point, one should note that in all of 2013, Eden's approvals represented 3 of only 10 new active ingredients approved by the EC.

3AEY has been authorised for sale in Kenya, Malta, Greece, Bulgaria, Spain, Italy, France, Cyprus, Albania and Portugal.

Eden was admitted to trading on AIM on 11 May 2012 and trades under the symbol EDEN.

For more information about Eden, please visit: www.edenresearch.com.

Eastman highly commended at prestigious Agrow Awards for Eden’s nematicide formulation, Cedroz

Eden Research plc (AIM: EDEN), the AIM listed company that develops and supplies breakthrough biopesticide products and natural microencapsulation technologies to the global crop protection, animal health and consumer products industries, is pleased to announce that its commercial partner, Eastman Chemical (“Eastman”), has been highly commended in the ‘Best New Biological Product’ category at the 11th Agrow Awards in London last night. The accolade was given for Eden’s  nematicide formulation, Cedroz.

The Agrow Awards is a highly prestigious global event, celebrating excellence among companies, teams, and individuals in the crop protection and seed sector.

Cedroz is an innovative and nature-identical product formulated and patented by Eden Research plc and developed in conjunction with Eastman as a post-planting solution to the problem of root-knot nematodes (Meloidogyne spp.) in Solanaceae and Cucurbitaceae crops.  Cedroz is a water-based formulation of the terpenes thymol and geraniol, which are encapsulated using Eden’s Sustaine system, a natural microencapsulation system that enables the use of otherwise difficult-to-use active ingredients.

In line with the ever-increasing consumer demand for ‘safe’ products, Cedroz is an attractive alternative for farmers looking to fight nematodes in an environmentally friendly way. With registration files under evaluation, it is expected that the product will have zero residues and a zero-day pre-harvest interval, thereby allowing applications right up to harvest, if desired. Cedroz offers farmers ease of use, since it is applied using the existing irrigation system. The two multi-site active ingredients not only work synergistically, thereby maximising efficacy on the target pest, but also offer a robust anti-resistance strategy. As no resistance is foreseen, effective repeated use is possible.

Sean Smith, Chief Executive Officer of Eden, said: “We are delighted that Eastman’s efforts to commercialise Cedroz have been recognised through being high commended for the best new biological product.  Eastman has been an excellent partner for us, investing significant resources and capital to advance the commercialisation of Cedroz.  We congratulate the Eastman team involved in these efforts and look forward to our ongoing collaboration with them in advancing Cedroz and exploring new opportunities.”

For further information contact:

Notes:

Eden Research is a technology development and commercialisation company with intellectual property and expertise in encapsulation, terpenes and environmentally friendly technologies to provide naturally occurring solutions for the global agrochemicals, animal health, and consumer product industries.

Eden's encapsulation technology harnesses the biocidal efficacy of naturally occurring chemicals produced by plants (terpenes) and can also be used with both natural and synthetic compounds to enhance their performance and ease-of-use. The technology uses yeast cells that are a by-product of numerous commercial production processes to deliver a slow release of natural compounds for agricultural and non-agricultural uses. Terpenes are already widely used in the food flavouring, cosmetics and pharmaceutical industries.

Historically, terpenes have had limited commercial use in the agrochemical sector due to their volatility, phytotoxicity and poor solubility. Eden's platform encapsulation technology provides a unique, environmentally friendly solution to these problems and enables terpenes to be used as effective, low-risk agrochemicals.

Eden is developing these technologies through innovative research and a series of commercial production, marketing and distribution partnerships.

The Company has a number of patents and a pipeline of products at differing stages of development targeting specific areas of the global agrochemicals industry. To date, the Company has invested in the region of £13m in developing and protecting its intellectual property and seeking regulatory approval for products that rely upon the Company's technologies. Revenues earned by the Company have been modest whilst the Company has concentrated on securing patent protection for its intellectual property, gaining regulatory approvals, identifying suitable industrial partners, and entering into commercial agreements. 

In May 2013, the three actives that comprise Eden's first commercial product, 3AEY, were approved as new ingredients for use in plant protection products. This represented a major milestone in the commercialisation of Eden's technology and is a significant accomplishment for any company.  To illustrate this point, one should note that in all of 2013, Eden's approvals represented 3 of only 10 new active ingredients approved by the EC.

3AEY has been authorised for sale in Kenya, Malta, Greece, Bulgaria, Spain, Italy, France, Cyprus, Albania and Portugal.

Eden was admitted to trading on AIM on 11 May 2012 and trades under the symbol EDEN.

For more information about Eden, please visit: www.edenresearch.com.

Exclusive distribution agreement signed for Australia and New Zealand

Eden Research plc (AIM: EDEN), the AIM listed company that develops and supplies breakthrough biopesticide products and natural microencapsulation technologies to the global crop protection, animal health and consumer products industries, announces that it has signed an exclusive distribution agreement (“Agreement”) with Sipcam SpA (“Sipcam”) for its fungicide product (the “Product”) to be sold in Australia and New Zealand.  The Product, which is currently sold in Europe and Africa, will be marketed by Sipcam in Australia and New Zealand under the trade name “Novellus” following receipt of the requisite approvals. In conjunction with the distribution agreement, the application for the registration of Novellus has been submitted to the Australian regulatory authorities and the process is anticipated to be completed in time for the 2020 growing season.

The Agreement allows Sipcam to sell Novellus in Australia and New Zealand on an exclusive basis, primarily for the treatment of botrytis on grapes. Botrytis is a fungus that affects many plant species, but it is particularly problematic for grape growers due to the rapid progression of the disease and its significant impact on crop yield and wine quality.  Sipcam is already the exclusive distributor for the Product in Italy and Spain, and therefore has good product knowledge and insight into the grape fungicide market, making it well-positioned to commercialise the Product in a market with significant potential.

Australia and New Zealand are both major producers of grapes and wine, with Australia being included in the world’s top ten. The need for an effective product for the treatment of botrytis is well-known in both countries and is even more important after the removal of iprodione for sale in Europe. As much of Australia’s wine is exported, the Australian Wine Research Institute (AWRI) has stated that products containing the active constituent iprodione are no longer recommended for use on Australian grapes destined for export.

Sean Smith, Chief Executive Officer of Eden, said: "There is a clear opportunity for Novellus to help growers control botrytis in Australia and New Zealand.  The fact that Novellus can also be used close to harvest will provide a valuable replacement for iprodione. We are pleased to be taking the first step toward expanding the existing relationship we have with Sipcam, who has already proven to be a good commercial partner for the Product in Italy and Spain. We anticipate the further expansion of our relationship with Sipcam in due course as our collaboration continues under the various agreements signed last year.”

For further information contact:

Notes:

Eden Research is a technology development and commercialisation company with intellectual property and expertise in encapsulation, terpenes and environmentally friendly technologies to provide naturally occurring solutions for the global agrochemicals, animal health, and consumer product industries.

Eden's encapsulation technology harnesses the biocidal efficacy of naturally occurring chemicals produced by plants (terpenes) and can also be used with both natural and synthetic compounds to enhance their performance and ease-of-use. The technology uses yeast cells that are a by-product of numerous commercial production processes to deliver a slow release of natural compounds for agricultural and non-agricultural uses. Terpenes are already widely used in the food flavouring, cosmetics and pharmaceutical industries.

Historically, terpenes have had limited commercial use in the agrochemical sector due to their volatility, phytotoxicity and poor solubility. Eden's platform encapsulation technology provides a unique, environmentally friendly solution to these problems and enables terpenes to be used as effective, low-risk agrochemicals.

Eden is developing these technologies through innovative research and a series of commercial production, marketing and distribution partnerships.

The Company has a number of patents and a pipeline of products at differing stages of development targeting specific areas of the global agrochemicals industry. To date, the Company has invested in the region of £13m in developing and protecting its intellectual property and seeking regulatory approval for products that rely upon the Company's technologies. Revenues earned by the Company have been modest whilst the Company has concentrated on securing patent protection for its intellectual property, gaining regulatory approvals, identifying suitable industrial partners, and entering into commercial agreements.

In May 2013, the three actives that comprise Eden's first commercial product, 3AEY, were approved as new ingredients for use in plant protection products. This represented a major milestone in the commercialisation of Eden's technology and is a significant accomplishment for any company.  To illustrate this point, one should note that in all of 2013, Eden's approvals represented 3 of only 10 new active ingredients approved by the EC.

3AEY has been authorised for sale in Kenya, Malta, Greece, Bulgaria, Spain, Italy, France, Cyprus, Albania and Portugal.

Eden was admitted to trading on AIM on 11 May 2012 and trades under the symbol EDEN.

For more information about Eden, please visit: www.edenresearch.com.

Eden Research plc (AIM: EDEN), the AIM listed company that develops and supplies breakthrough biopesticide products and natural microencapsulation technologies to the global crop protection, animal health and consumer products industries, is pleased to announce that its associate company, TerpeneTech Limited (“TerpeneTech”), has received regulatory clearance to sell its head-lice product in the European Economic Area (“EEA”).

Sales of the head-lice product into the distribution channel are expected to begin before the end of 2018 in the UK, where TerpeneTech’s distribution channel partner has already been established, with commercial launch at the beginning of 2019. Sales will commence in other countries in the EEA once arrangements with additional distribution partners have been finalised. This is expected to take place during 2019.

Eden will supply a concentrate of encapsulated active ingredients (based upon Eden’s microencapsulation technology) to TerpeneTech, who will then formulate the finished product for initial sale by its distribution partner into the UK retail market.

Sean Smith, Chief Executive Officer of Eden, said: "The development of this head-lice product has been in progress for approximately three years and it is good to see it now being commercialised.

The launch of any consumer product into a regulated market, such as the head-lice treatment products market, is significantly more complicated, time consuming and costly than launching products into unregulated markets.  Therefore, we are pleased with the progress that TerpeneTech has made in only three years since it was granted a licence to use Eden’s microencapsulation technology for head-lice treatment formulations.

The head-lice markets, globally, tend to be quite fragmented, and so we feel that the approach being taken by TerpeneTech’s distribution partner to include the under-served discount-retail market is sensible.”

Antoine Biron, Director of TerpeneTech, said: “Our head-lice treatment product has performed very well in clinical trials where it has been tested against leading, competitive products.  We believe that the product will be well-received by consumers due to the product’s naturally-derived active ingredients, ease of use, safety and efficacy.

We look forward to the UK product launch being the first of several in the EEA and eventually the US for both the head-lice product and other products, such as our naturally-derived under-arm deodorant, subject to any requisite regulatory approval.”

For further information contact:

Notes:

Eden Research is a technology development and commercialisation company with intellectual property and expertise in encapsulation, terpenes and environmentally friendly technologies to provide naturally occurring solutions for the global agrochemicals, animal health, and consumer product industries.

Eden's encapsulation technology harnesses the biocidal efficacy of naturally occurring chemicals produced by plants (terpenes) and can also be used with both natural and synthetic compounds to enhance their performance and ease-of-use. The technology uses yeast cells that are a by-product of numerous commercial production processes to deliver a slow release of natural compounds for agricultural and non-agricultural uses. Terpenes are already widely used in the food flavouring, cosmetics and pharmaceutical industries.

Historically, terpenes have had limited commercial use in the agrochemical sector due to their volatility, phytotoxicity and poor solubility. Eden's platform encapsulation technology provides a unique, environmentally friendly solution to these problems and enables terpenes to be used as effective, low-risk agrochemicals.

Eden is developing these technologies through innovative research and a series of commercial production, marketing and distribution partnerships.

The Company has a number of patents and a pipeline of products at differing stages of development targeting specific areas of the global agrochemicals industry. To date, the Company has invested in the region of £13m in developing and protecting its intellectual property and seeking regulatory approval for products that rely upon the Company's technologies. Revenues earned by the Company have been modest whilst the Company has concentrated on securing patent protection for its intellectual property, gaining regulatory approvals, identifying suitable industrial partners, and entering into commercial agreements.

In May 2013, the three actives that comprise Eden's first commercial product, 3AEY, were approved as new ingredients for use in plant protection products. This represented a major milestone in the commercialisation of Eden's technology and is a significant accomplishment for any company.  To illustrate this point, one should note that in all of 2013, Eden's approvals represented 3 of only 10 new active ingredients approved by the EC.

3AEY has been authorised for sale in Kenya, Malta, Greece, Bulgaria, Spain, Italy, France, Cyprus, Albania and Portugal.

Eden was admitted to trading on AIM on 11 May 2012 and trades under the symbol EDEN.

For more information about Eden, please visit: www.edenresearch.com.

Eden Research plc (AIM: EDEN), the AIM-listed company that provides breakthrough biocontrol products and natural microencapsulation technologies to the global agrochemicals, animal health and consumer products industries, announces its interim results for the six months ended 30 June 2018.

Financial highlights

• Revenue for the period of £0.68m (H1 2017: £1.03m)
• Product sales £0.68m (H1 2017: £0.43m)
• Upfront and milestone payments of £nil (H1 2017: £0.59m)
• Operating loss for the period of £0.93m (H1 2017: profit of £0.21m)
• Cash and cash equivalents of £2.62m (H1 2017: £3.66m)

Business highlights

Commercial, Regulatory and IP:

• Execution of the commercial agreements signed with Sipcam SpA in 2017
• Expanding investment in regulatory clearances unlocking commercial potential in new, important territories
• United States Environmental Protection Agency (“EPA”) has commenced its scientific review of Eden’s two formulated products and their respective three active ingredients as pesticides for use in the United States of America. These reviews are expected to complete before the end of 2019
• Post period end, Eden’s nematicide formulation, marketed as “Cedroz™” by Eden’s partner, Eastman Chemical, announced as a finalist for “Best New Biological Product” at the prestigious AGROW Awards

Operational highlights:

• Lykele van der Broek, former COO of Bayer Crop Science and former Head of the Animal Health division of Bayer Health Care, appointed as Chairman of the Company from 1 January 2018

Lykele van der Broek, Chairman, commented:

“It is my pleasure to report to you on the good progress the Company has made during the first six months of this year.

“The Board’s focus at the start of 2018 was on increasing sales of Mevalone (Eden’s proprietary fungicide formulation), registering existing products in new territories, evaluating new products and evolving our Sustaine encapsulation technology in order to expand our offering in disease and crop protection.

“Significant progress has been made in the areas of production, formulation, regulatory, packaging and supply-chain security during the period. These are important activities which support the growth of the business.

“As we announced on 14 June, the United States Environmental Protection Agency ("EPA") commenced its scientific review of two of Eden's formulated products and their respective three active ingredients as crop protection products for use in the United States. We expect the outcome of these reviews to be announced before the end of 2019.

“I am sure that the remainder of 2018 will be another significant step-forward towards long-term success for Eden and I would like to thank you for your continued support.”

A presentation for analysts will be held at 12.30pm at Powerscourt’s offices, 1 Tudor Street, EC4Y 0AH.

Enquiries:

Notes:

Eden Research is a technology development and commercialisation company with intellectual property and expertise in encapsulation, terpenes and environmentally friendly technologies to provide naturally occurring solutions for the global agrochemicals, animal health, and consumer products industries.

Eden's encapsulation technology harnesses the biocidal efficacy of naturally occurring chemicals produced by plants (terpenes) and can also be used with both natural and synthetic compounds to enhance their performance and ease-of-use. The technology uses yeast cells that are a by-product of numerous commercial production processes to deliver a slow release of natural compounds for agricultural and non-agricultural uses. Terpenes are already widely used in the food flavouring, cosmetics and pharmaceutical industries.

Historically, terpenes have had limited commercial use in the agrochemical sector due to their volatility, phytotoxicity and poor solubility. Eden's platform encapsulation technology provides a unique, environmentally friendly solution to these problems and enables terpenes to be used as effective, low-risk agrochemicals.

Eden is developing these technologies through innovative research and a series of commercial production, marketing and distribution partnerships.

The Company has a number of patents and a pipeline of products at differing stages of development targeting specific areas of the global agrochemicals industry. To date, the Company has invested in the region of £13m in developing and protecting its intellectual property and seeking regulatory approval for products that rely upon the Company's technologies. Revenues earned by the Company have been modest whilst the Company has concentrated on securing patent protection for its intellectual property, gaining regulatory approvals, identifying suitable industrial partners, and entering into commercial agreements.

In May 2013, the three actives that comprise Eden's first commercial product, 3AEY, were approved as new ingredients for use in plant protection products. This represented a major milestone in the commercialisation of Eden's technology and is a significant accomplishment for any company. To illustrate this point, one should note that in all of 2013, Eden's approvals represented 3 of only 10 new active ingredients approved by the EC.

3AEY has been authorised for sale in Kenya, Malta, Greece, Bulgaria, Spain, Italy, France, Cyprus, Albania and Portugal.

Eden was admitted to trading on AIM on 11 May 2012 and trades under the symbol EDEN.

For more information about Eden, please visit: www.edenresearch.com

Eden Research plc (AIM: EDEN), the AIM-listed company that develops and supplies breakthrough biopesticide products and natural microencapsulation technologies to the global crop protection, animal health and consumer products industries announces that, at the Annual General Meeting (“AGM”) of Eden held today at 1.30pm at the Institute of Directors, 116 Pall Mall, London SW1Y 5ED, all the resolutions were duly passed.

Notes:

Eden Research is a technology development and commercialisation company with intellectual property and expertise in encapsulation, terpenes and environmentally friendly technologies to provide naturally occurring solutions for the global crop protection, animal health, and consumer product industries.

Eden's encapsulation technology harnesses the biocidal efficacy of naturally occurring chemicals produced by plants (terpenes) and can also be used with both natural and synthetic compounds to enhance their performance and ease-of-use. The technology uses yeast cells that are a by-product of numerous commercial production processes to deliver a slow release of natural compounds for agricultural and non-agricultural uses. Terpenes are already widely used in the food flavouring, cosmetics and pharmaceutical industries.

Historically, terpenes have had limited commercial use in the agrochemical sector due to their volatility, phytotoxicity and poor solubility. Eden's platform encapsulation technology provides a unique, environmentally friendly solution to these problems and enables terpenes to be used as effective, low-risk agrochemicals.

Eden is developing these technologies through innovative research and a series of commercial production, marketing and distribution partnerships.

The Company has a number of patents and a pipeline of products at differing stages of development targeting specific areas of the global agrochemicals industry. To date, the Company has invested in the region of £13m in developing and protecting its intellectual property and seeking regulatory approval for products that rely upon the Company's technologies. Revenues earned by the Company have been modest whilst the Company has concentrated on securing patent protection for its intellectual property, gaining regulatory approvals, identifying suitable industrial partners, and entering into commercial agreements. 

In May 2013, the three actives that comprise Eden's first commercial product, 3AEY, were approved as new ingredients for use in plant protection products. This represented a major milestone in the commercialisation of Eden's technology and is a significant accomplishment for any company.  To illustrate this point, one should note that in all of 2013, Eden's approvals represented 3 of only 10 new active ingredients approved by the EC.

3AEY has been authorised for sale in Kenya, Malta, Greece, Bulgaria, Spain, Italy, France, Cyprus, Albania and Portugal.

Eden was admitted to trading on AIM on 11 May 2012 and trades under the symbol EDEN.

For more information about Eden, please visit: www.edenresearch.com.

Eden Research plc (AIM: EDEN), the AIM-listed company that develops and supplies breakthrough biopesticide products and natural microencapsulation technologies to the global crop protection, animal health and consumer products industries, will hold its AGM today at 1.30pm at the Institute of Directors, 116 Pall Mall, London SW1Y 5ED.

At the meeting Eden's Chairman, Lykele van der Broek, will make the following statement:

“I am delighted to be Chairing my first AGM for Eden at such an exciting time in the Company’s evolution.

Since retiring from Bayer CropScience, I have sought out just a few companies in which I could take an interest in and spend time challenging and supporting the executive team to grow and develop their businesses using my experience,  and so I was pleased to be offered the role of Chairman at Eden as, after careful consideration, I felt that this business had a lot of potential as well as synergy with my professional background.

It seems to me that Eden has invested a significant amount of time and resource to get to where it has got to today and that this is now starting to pay off with commercialisation in full-swing.

In short order, we will see crop protection, animal health and consumer products on the market, all of which have been either developed by Eden itself, or by partners using Eden’s terpene and SustaineÔ encapsulation technologies.

Sustaine clearly has such a wide-variety of applications, which is excellent, however, I think the approach being taken by the Company to concentrate its efforts on a handful of different market sectors, initially, is sensible.

Over the coming year, I hope to oversee an increase in revenue along with an increase in research and development activity which will help to advance the Company’s product pipeline apace. In addition, I will assist management in expanding the core team so as to effectively manage the increase in activities that we are seeing, as well as using my experience to progress commercial activity, as appropriate.

In the longer term, I will strive to help Eden become a significant player in the crop protection, animal health and consumer products sectors, which I believe it can be.”

Company presentation

After the conclusion of the formal business of the AGM, Eden’s Chief Executive Officer will provide a short presentation to investors with an overview of Company progress and strategy. No new material information will be disclosed in the presentation and it will be available on the Company’s website later today.

Notes:

Eden Research is a technology development and commercialisation company with intellectual property and expertise in encapsulation, terpenes and environmentally friendly technologies to provide naturally occurring solutions for the global crop protection, animal health, and consumer product industries.

Eden's encapsulation technology harnesses the biocidal efficacy of naturally occurring chemicals produced by plants (terpenes) and can also be used with both natural and synthetic compounds to enhance their performance and ease-of-use. The technology uses yeast cells that are a by-product of numerous commercial production processes to deliver a slow release of natural compounds for agricultural and non-agricultural uses. Terpenes are already widely used in the food flavouring, cosmetics and pharmaceutical industries.

Historically, terpenes have had limited commercial use in the agrochemical sector due to their volatility, phytotoxicity and poor solubility. Eden's platform encapsulation technology provides a unique, environmentally friendly solution to these problems and enables terpenes to be used as effective, low-risk agrochemicals.

Eden is developing these technologies through innovative research and a series of commercial production, marketing and distribution partnerships.

The Company has a number of patents and a pipeline of products at differing stages of development targeting specific areas of the global agrochemicals industry. To date, the Company has invested in the region of £13m in developing and protecting its intellectual property and seeking regulatory approval for products that rely upon the Company's technologies. Revenues earned by the Company have been modest whilst the Company has concentrated on securing patent protection for its intellectual property, gaining regulatory approvals, identifying suitable industrial partners, and entering into commercial agreements.

In May 2013, the three actives that comprise Eden's first commercial product, 3AEY, were approved as new ingredients for use in plant protection products. This represented a major milestone in the commercialisation of Eden's technology and is a significant accomplishment for any company.  To illustrate this point, one should note that in all of 2013, Eden's approvals represented 3 of only 10 new active ingredients approved by the EC.

3AEY has been authorised for sale in Kenya, Malta, Greece, Bulgaria, Spain, Italy, France, Cyprus, Albania and Portugal.

Eden was admitted to trading on AIM on 11 May 2012 and trades under the symbol EDEN.

For more information about Eden, please visit: www.edenresearch.com.

Eden Research plc (AIM: EDEN), the AIM listed company that develops and supplies breakthrough biopesticide products and natural microencapsulation technologies to the global crop protection, animal health and consumer products industries, announces that the United States Environmental Protection Agency (“EPA”) has commenced its scientific review of Eden’s two formulated products and three active ingredients as pesticides for use in the United States. The scientific reviews are expected to be complete before the end of 2019.

Eden’s applications cover its first two products and their respective active ingredients: Mevalone™, Eden’s fungicide for the treatment of botrytis on grapes and a range of other crops, and Cedroz™, a nematicide product for farmers that controls a wide range of economically important nematodes and that is being commercialised in 29 countries by Eden’s partner Eastman.

Mevalone is currently approved in ten countries, including the top three wine producing countries in the world. The United States (“US”) is the fourth largest wine producing country and the third largest vine fungicide market in the world behind Italy and France. Mevalone is marketed under several trade names by Eden’s partners SumiAgro (France), Sipcam (Italy and Spain), Efthymidis (Greece, Portugal and the Balkans) and Lachlan (Kenya). Discussions are currently underway regarding the appointment of appropriate distribution partners for Mevalone in the US.

Cedroz is an innovative formulation based on specific nature-identical terpenes and an encapsulation technology which was developed and patented by Eden Research plc ("Eden"). Eastman is Eden's exclusive partner for the development and distribution of this product in more than 25 key countries around the world. The favourable toxicological regulatory profile of Cedroz will provide a high level of flexibility on the timing of application for farmers and comfort for workers. In all regulatory trials completed, no terpene residues were found in the crops at harvest.

Sean Smith, Chief Executive Officer of Eden, said: "Following the successful execution of partnership agreements with Eastman and Sipcam over the past eighteen months and the successful fund raising associated with Sipcam’s investment in Eden, we are now actively pursuing the expansion of our portfolio of regulatory approvals in order to fully realise the value of our technology and products. This is integral to our commercial success given the importance of these approvals to the commercialisation of crop protection products.”

Notes:

Eden Research is a technology development and commercialisation company with intellectual property and expertise in encapsulation, terpenes and environmentally friendly technologies to provide naturally occurring solutions for the global agrochemicals, animal health, and consumer products industries.

Eden's encapsulation technology harnesses the biocidal efficacy of naturally occurring chemicals produced by plants (terpenes) and can also be used with both natural and synthetic compounds to enhance their performance and ease-of-use. The technology uses yeast cells that are a by-product of numerous commercial production processes to deliver a slow release of natural compounds for agricultural and non-agricultural uses. Terpenes are already widely used in the food flavouring, cosmetics and pharmaceutical industries.

Historically, terpenes have had limited commercial use in the agrochemical sector due to their volatility, phytotoxicity and poor solubility. Eden's platform encapsulation technology provides a unique, environmentally friendly solution to these problems and enables terpenes to be used as effective, low-risk agrochemicals.

Eden is developing these technologies through innovative research and a series of commercial production, marketing and distribution partnerships.

The Company has a number of patents and a pipeline of products at differing stages of development targeting specific areas of the global agrochemicals industry. To date, the Company has invested in the region of £13m in developing and protecting its intellectual property and seeking regulatory approval for products that rely upon the Company's technologies. Revenues earned by the Company have been modest whilst the Company has concentrated on securing patent protection for its intellectual property, gaining regulatory approvals, identifying suitable industrial partners, and entering into commercial agreements.

In May 2013, the three actives that comprise Eden's first commercial product, 3AEY, were approved as new ingredients for use in plant protection products. This represented a major milestone in the commercialisation of Eden's technology and is a significant accomplishment for any company. To illustrate this point, one should note that in all of 2013, Eden's approvals represented 3 of only 10 new active ingredients approved by the EC.

3AEY has been authorised for sale in Kenya, Malta, Greece, Bulgaria, Spain, Italy, France, Cyprus, Albania and Portugal.

Eden was admitted to trading on AIM on 11 May 2012 and trades under the symbol EDEN.

For more information about Eden, please visit: www.edenresearch.com.

Eastman is a global advanced materials and specialty additives company that produces a broad range of products found in items people use every day.

With a portfolio of specialty businesses, Eastman works with customers to deliver innovative products and solutions while maintaining a commitment to safety and sustainability. Its market-driven
approaches take advantage of world-class technology platforms and leading positions in attractive end-markets such as transportation, building and construction, and consumables.

Eastman focuses on creating consistent, superior value for all stakeholders.

As a globally diverse company, Eastman serves customers in more than 100 countries and had 2016 revenues of approximately $9.0 billion.

The company is headquartered in Kingsport, Tennessee, USA and employs approximately 14,000 people around the world.

For more information, please visit: www.eastman.com.