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Mon, October 31, 2011

Positive nematode trial results under Certis agreement


Published on 2011-10-31 01:03:03 - Market Wire
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October 31, 2011 03:00 ET

Positive nematode trial results under Certis agreement

 31st October 2011 GB0001646941/GBP/PLUS-exn EDEN RESEARCH PLC ("Eden" or the "Company") Positive nematode trial results under Certis agreement * Positive trial results for Eden's nematode product - similar performance to a leading traditional agrochemical * Results also show less crop damage in the absence of pests or disease compared with a leading traditional agrochemical Eden Research plc, the agrochemical and encapsulation development company, is pleased to announce positive interim trial results from the evaluation of its nematode product under the exclusive option agreement that Eden entered into with Certis Europe BV ("Certis") in 2010. The purpose of these trials was to prove the efficacy and viability of Eden's nematode product to enable Certis to decide whether to exercise its option and to provide data for the European registration process required to register and sell the product. The first set of studies show good efficacy for Eden's nematode product and similar results to a leading traditional agrochemical competitor product, against which Eden's product was compared. The trials were undertaken to assess control of Root Knot nematodes (Meloidogyne incognita) in tomatoes and peppers, a major pest in these crops grown in protected or field crop situations. In addition, Eden's product demonstrated less crop damage, in the absence of any pests or disease, when compared with the leading traditional agrochemical competitor product, confirming results from previous trials. The option agreement gives Certis the exclusive right to enter into a licence agreement for Eden's nematode product for Europe, Asia, Africa, Oceania and the Middle East and expires on 31 December 2011. In the event that Certis exercises its option, a minimum licence fee of USD 0.9m becomes payable to Eden, with royalties on net sales thereafter. The second and final set of trial results is due in mid-December 2011. Clive Newitt, Managing Director of Eden, said, "These results are positive for Eden and pave the way for a long-term relationship with Certis, one of the leaders in nematode control through their CleanStart programme. The results are also a good indicator for our other partners who have rights to the nematode product in other parts of the world. We are eagerly anticipating the second set of trial results and will keep shareholders informed of progress." The Directors of Eden are responsible for the contents of this announcement. Enquiries: Eden Research plc 01993 862761 Clive Newitt, Managing Director St Helens Capital Partners LLP 020 7368 6959 Mark Anwyl Notes: Eden has developed a terpene-based encapsulation technology which uses yeast cells to deliver a slow release of natural compounds for agricultural and non-agricultural uses. Terpenes are natural compounds which function as defence mechanisms in many plant groups and are released in response to infection, attack by pests, stress or mechanical injury. Terpenes are already widely used in the food flavouring, cosmetic 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. The next-generation encapsulation technology, licensed from University of Massachusetts Medical School ("UMMS") recently, provides significant additional benefits to the original system as it allows release to be controlled by environmental factors rather than relying solely upon the chemistry of the substances used. This means that there is more control over the timing of the release of the active compound being carried allowing for further reduction in chemicals applied whilst ensuring maximum effectiveness. The UMMS license also significantly expands the potential use of the Eden technology in non- agricultural applications such as health and beauty, cosmetics and animal health. For more information about Eden, please visit [ www.edenresearch.com ]


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