Business
First shipment of MevaloneT (3AEY) to Greece
First shipment of MevaloneT (3AEY) to Greece.
About this update from Eden Research Plc
[{"type":"text","content":"\n \nRNS Number : 5822O Eden Research plc 10 February 2016 \n\nEden Research Plc\n(\"Eden\" or \"Company\")\n \nFirst shipment of Mevalone™ (3AEY) to Greece\n \n· First commercial scale order for Mevalone from Redestos Group, Eden's partner in Greece and the Balkans \n· Mevalone (a trading name used for 3AEY) combats botrytis (grape rot) in table and wine grapes\n· Delivery is planned for the end of March 2016\n· Eden will derive revenue from product sales and royalties from this first order for the European market\n \nEden 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 that its partner, K&N Efthymiadis (KNE), part of the Redestos Group, has placed its first order for Mevalone™ for the prevention and cure of botrytis on table and wine grapes in Greece. Mevalone is the trade name used in several countries for Eden's fungicidal agrochemical product, 3AEY, and this order follows the national approval for commercial sale in Greece received in August 2015. \n \nPlans are also underway in Greece to submit label extensions to allow the use of Mevalone across a wider range of crops in which the fungal disease botrytis is a problem, such as kiwi, aubergine, green onion and pomegranate. Label extensions can be achieved with a much shorter regulatory timetable and are expected to be received in 2016. These will help KNE realise greater penetration of the larger Greek fungicide market with Mevalone. \n \nUnder the existing agreement between Eden and Redestos Group, Eden will receive royalties based on net sales of Mevalone. Eden will also supply KNE with Mevalone from its network of toll manufacturers and suppliers.\n \nSean Smith, Chief Executive Officer of Eden, said: \"As we have stated previously, this year represents one of tremendous progress for Eden and its partners as we transition into commercial sales from our development and registration phase. Our licensees and distributors are now able to realise the initial potential of Eden's product pipeline, and with further label extensions and partnerships to ...