Eden AGM Statement: 3AEY fungcide to receive more approvals globally

On June 28, Eden Research plc held its AGM . At the meeting Eden’s Chairman, Tom Lupton, made the following statement:

Since Eden’s last AGM, I am pleased to report that, following the initial EU approval by Malta of our agrochemical fungicide product, 3AEY, further approvals have been granted in Italy, Bulgaria, Kenya, Greece and Spain. Already, product sales have been made directly to our partners in Kenya and Greece, with sales to be made this year in Italy and Spain where our partner is manufacturing the product itself. French approval is expected during 2016.

Eden has a strong portfolio of products based on the three active substances for which we already have EU approval. We are now able, thanks to the funding received in March 2016, to progress registration of 3AEY and other products in areas such as Australia, USA and South America, where we can leverage the safety and in some cases trial data which we have already generated for the EU approval process.

In crop protection, we have a number of well-established partners to sell our products (Sumi Agro France, Sipcam Italia and Iberia and Efthymiadis) with trials on-going with partners for other areas of the world (USA, South America, Australia, Central Europe and North Africa).

Eden continues to develop and commercialise, with partners, a range of products using its patented GO-E encapsulation system with terpene technology in agrochemicals and other markets such as human (TerpeneTech for biocide and head-lice applications) and animal health (Bayer Animal Health for animal health products). Some of these opportunities are well advanced, such as Eden’s nematicide product, where formulation work, field trials and testing are complete and arrangements are being concluded with our prospective partner to commercialise this product. Other opportunities are earlier stage concepts where the potential is significant, but the risk of commercial success is higher.

Developing products takes time, as does nurturing relationships with any customer, especially the bigger players where just getting a foot in the door can take a lot of time and effort. Field trials have to be conducted, the regulatory requirements have to be checked and met. Distributors and users then have to be convinced that these new products really do work. Then, you can sell products, generate revenues and, ultimately, make profits.

Eden has a well-balanced portfolio of products, projects and opportunities at differing levels of risk of commercial success, the first of which is now bearing fruit, with a strong pipeline behind it. All part of the process of Eden becoming a truly commercial entity, having shifted from a purely development phase.