Oct. 29, 2018
Eden Research plc (AIM: EDEN) 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.”