Business
Option Agreement with Certis Europe BV for nema...
Option Agreement with Certis Europe BV for nema....
About this update from Shuka Minerals Plc
[{"type":"text","content":"\n \n\n 22 June 2010\n\n EDEN RESEARCH PLC\n (\"Eden\" or \"Company\")\n\n Option Agreement with Certis Europe BV for nematodes\n\nEden Research plc, a leading UK agrochemical development company, today announces that it has signed an exclusive\noption agreement for its nematicide product and technology with Certis Europe BV (\"Certis\") based in\nMaarssen, Netherlands. The agreement gives Certis a period of twelve months exclusivity within which it will\nconduct various investigations on the performance and economics of the product and technology following which\nit can exercise its option and enter into an exclusive licence agreement for the use of Eden's nematicide\nproduct in major markets in Europe, Asia, Africa, the Middle East and Oceania.\n\nThe agreement provides for Certis to pay an upfront fee of $100,000 followed by a license fee on exercise of the\noption of $900,000, plus an annual royalty payment once sales have begun.\n\nEden's nematicide product is based upon two of the terpenes contained in its 3-AEY Botrytis product that is\nalready well advanced in its EU registration process. Terpenes are natural compounds which function as\ndefence mechanisms in many plant groups and are released in response to infection, attack by pests (in this\ncase soil-inhabiting nematodes), stress or mechanical injury. Terpenes are already widely used in the food\nflavouring, cosmetic and pharmaceutical industries.\n\nCertis Europe BV is a well established crop protection business with direct operations in key European markets\nwhich combines proprietary products with those from a range of supplier partners in a wide-ranging portfolio.\nCertis' majority shareholder is Mitsui Agriscience, part of Mitsui & Co., a $57 billion global trading\ncompany with diverse business interests in over 90 countries. Mitsui's global sales in the agriscience sector\nare in excess of $486 million per annum and the company markets a wide variety of pesticides and\nbiopesticides, as well as biological pest control products and services through its European, African,\nJapanese and US subsidiaries.\n\nClive Newitt, Managing Director of Eden Research, said:\n\n\"This is a significant step forward for Eden as the worldwide nematicide and soil fumigant market is around $1\nbillion per annum and, therefore, provides us with the potential for significant futu...