United Kingdom
April 13, 2015
Eden Research Plc (AIM: EDEN), the AIM-listed natural micro-encapsulation company, announces that it has signed an exclusive option agreement (“Agreement”) with Taminco BVBA’ s crop protection division following a series of successful field trials conducted during the second half of 2014. Taminco BVBA (“Taminco”) is a subsidiary of Eastman Chemical Company.
The Agreement grants Taminco the right to further evaluate and conduct large-scale marketing and regulatory trials with Eden’s nematicide product B2Y for crop protection until 31 March 2016. It is anticipated that following a successful outcome in 2015, Eden and Taminco will negotiate a global licensing arrangement to allow the commercialisation of this product. The nematicide B2Y uses Eden’s naturally-derived active ingredients and GO-E Inside™, Eden’snatural micro-encapsulation technology.
Sean Smith, Chief Executive Officer of Eden, said: “Since August 2014, Taminco has been evaluating Eden’s nematicide product, B2Y, and has seen very good results. As such, Taminco has decided to further evaluate the product and expand the trial work to a much larger scale with a view to registering and ultimately selling the product on a global basis.
“This agreement with Taminco reflects our strategy to partner with global industry leaders and leverage their expertise and market access to commercialise Eden’s products. This means that product sales, and therefore royalty revenues to Eden, will be accelerated and maximised when compared to undertaking this process ourselves. Taminco has already invested significant resources in this product and that will increase substantially in 2015. Eden and Taminco are both dedicating considerable resource to this collaboration during the course of 2015 to ensure the product will be a success.”
Guy Van Den Bossche, General Manager of Taminco’s crop protection division, said: “Being a leading supplier in soil disinfection for high value crops, we are always looking for new innovative products. The collaboration with Eden is a step forward to broaden our offer with complementary solutions that respond to market trends for increasing sustainability in crop protection.”
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