Eden Research Plc · LSE:EDEN
Eden Research — H1 2024 Earnings Presentation
30 slides from Eden Research's earnings presentation, Sep 23, 2024
Slide 1: Eden Research plc 2024 Interims presentation
Eden Research plc 2024 Interims presentation 23rd September 2024
Slide 2: Eden Research plc is a leader in sustainable biopesticide and biocontrol technology
2 Eden Research plc is a leader in sustainable biopesticide and biocontrol technology. Eden Research 2024 | September 2024
Slide 3: Presentation team
Presentation team 3 Sean Smith Alex Abrey Chief Executive Officer Chief Financial Officer Over 25 years experience in the Experienced Financial Director to a speciality chemicals and industrial diverse range of businesses including biotechnology industries financial and management consultancy ‐ 10+
Slide 4: About us
About us 4 Key statistics Eden is the only UK quoted (AIM: EDEN) company focused on biopesticides for sustainable agriculture Regulatory Crop uses Intellectual property and Multiple regulatory expertise in plant-derived clearances (EU, US, AUS, NZ) approvals sustainable chemistry and 24 ~100 deliver
Slide 5: The drive towards sustainable agriculture
The drive towards 5 sustainable agriculture Eden formulations are well Farming practices which Embracing farming suited for a wide range of maintain yields while practices that mimic crop protection applications. reducing harm to the natural ecological Consumer sentiment about environment processes
Slide 6: Significant market potential
Significant market 6 potential Crop protection products formulated with $11bn 15% pa The global biopesticides The biopesticides market Sustaine ® and Eden’s active ingredients market is projected to is growing at a CAGR of can help address many of these issues: be worth more than approximately 15% $
Slide 7: H1, 2024 Business Highlights
H1, 2024 Business Highlights 7 • Expanding regulatory approvals in key territories, including the US, and new product areas • Authorisation for Mevalone® received in the key state of California • Mevalone® authorised for use in multiple new crops and for new fungal pathogens in Spain • 140 insectici
Slide 8: H1, 2024 Corporate Highlights
H1, 2024 Corporate Highlights 8 • Strengthening of the Company’s financial position and team to allow the business to grow apace • Eden named ESG Company of the Year at the prestigious 2024 Small Cap Network Awards in recognition of its commitment to environmental, social and governance matters and
Slide 9: Financials – H1, 2024 Results
Financials – H1, 2024 Results 9 • Significant increase in revenue: H1, 2024 H1, 2023 2023 • 73% vs H1, 2023 % £m £m £m change • Significant increase in product sales: Revenue 1.9 65 1.1 3.2 • 55% vs H1, 2023 • Strong financial position: Product sales 1.7 51 1.1 2.6 • Cash at bank at 30 June 2024 of
Slide 10: Upcoming news-flow
Upcoming news-flow 10 • Mevalone approvals in Central Europe H2, 2024 • Commercial agreements for insecticide H2, 2024 / H1, 2025 • Emergency Use application for Ecovelex H2, 2024 • Commercial agreement(s) for home and garden H2, 2024 • Major label extensions for Mevalone in various countries (e.g.
Slide 11: Our Products
THE NATURAL SOLUTION OUR PRODUCTS 1
Slide 12: Our product focus
Our product focus 12 Our focus is on developing products based on sustainable chemistries to protect crops from pests and disease, with equal or better performance when compared with conventional pesticides. FUNGICIDES NEMATICIDES INSECTICIDES SEED TREATMENTS Botrytis, powdery Root knot Mites and Mu
Slide 13: Product characteristics
Product characteristics 13 Enabling sustained Tackling Solvent-free, stable Protecting plants Polymer-free ‘Residue Low or no delivery, increasing resistance formulations with from potentially formulation free’ pre-harvest intervals residual efficacy and build-up high loadings of damaging chemicals
Slide 14: Mevalone Biofungicide
Mevalone® 14 Biofungicide Background Current status Mevalone is a foliar biofungicide which was Approved in Southern EU on a Approval in other Central EU developed initially to target botrytis on grapes. wide range of targets and crops countries expected in 2024 Since its launch in the EU in 2016, t
Slide 15: Clear results, Robust efficacy
15 Clear results Incidence of disease (%) Average of 13 trials across southern Europe ‐ Mevalone is a proven product 82.3% ‐ A reliable alternative to conventional control ‐ Phased release for prolonged effects ‐ Easy to use and apply 29.5% 27.1% 18.1% ‐ Improved stability and shelf life compared to
Slide 16: Cedroz Bio-nematicide
Cedroz 16 Bio-nematicide Background Current status Cedroz is a bio-nematicide targeting Approved in Southern and Central EU root-knot nematodes in high value crops. on a wide range of high-value crops A development and commercialisation Approval in the US received agreement was signed with Eastman C
Slide 17: Severity of root damage
17 Severity of root damage % cumulative production compared Zeck scale 0-10 to the untreated, which = 100 136.9 133.9 6.3 116.1 117.2 108.4 85.4 3.95 3.45 3.35 2.7 1.3 1.13 1 0.85 Test 1 Test 2 Test 3 Test 1 Test 2 Test 3 Untreated Cedroz Standard Cedroz 9 L/ha Standard 10L Eden Research 2024 | Sept
Slide 18: Seed treatments
Seed treatments 18 What are Seed treatments? Physical, biological or chemical Treatments are typically agents applied to seeds to applied either as a solid/dust provide protection and help or as a liquid. improve overall crop performance Colourants are used in seed treatments to give a clear Multipl
Slide 19: Ecovelex Bird repellent seed treatment
Ecovelex Ecovelex 19 Bird repellent seed treatment Background Current status Ecovelex is a biological bird repellent seed Semi-field studies have shown Formulation testing by Corteva has treatment initially for use on maize. good efficacy been successful Two incumbent ingredients used in Corteva’s F
Slide 20: Ecovelex efficacy
Ecovelex 20 The biological bird repellent seed treatment % Efficacy BBCH 10 (6-29 days after drilling) - Summary of 16 trials 45 40 35 36.6 38.3 30 Efficacy (%) 25 20 15 10 5 0 Untreated Korit Ecovelex (% missing and damaged plants) (0.6L/100kg seeds) (0.71L/100kg seeds)
Slide 21: Insecticide
Insecticide 21 Significant opportunities for safe effective, new products Current status Background Data from field trials undertaken in Regulatory submissions are 2023 shows good efficacy, consistent planned for 2024 / 2025 Due to a ban on numerous insecticides, with that in 2021 & 2022 such as neo
Slide 22: Insecticide: efficacy against spider mite eggs
Insecticide 22 HT Efficacy (%) against Spider mite - eggs (Summary of 4 trials, 4 applications at 7-day interval, error bars = standard error) 100 90 80 70 60 50 40 30 20 10 0 IN020E 8.9 L/ha Flipper INO20 8.9L/Ha EU (fatty Biocontrol Std acids C7-C20) Eden Research 2024 | September 2024 DA-A DA-B D
Slide 23: Insecticide: efficacy against whitefly eggs
Insecticide 23 HT Efficacy (%) against Whitefly - eggs (Summary of 3 trials, 4 applications at 7-day interval, error bars = standard error) 100 90 80 70 60 50 40 30 20 10 0 IN020E 8.9 L/ha Botaniguard Sivanto Prime INO20 8.9L/Ha EU(Bauveria Biological bassiana) Std. Conventional Std. (flupyradifuron
Slide 24: Strategy and Growth Opportunities
24 STRATEGY AND GROWTH OPPORTUNITIES
Slide 25: Our strategy
Our strategy 25 Business line Research, Commercial Strengthening diversification development growth and growing and operations the team ‐ Pursuit of opportunities in seed ‐ Supply chain optimisation ‐ Regulatory clearance in new ‐ Added capacity in R&D, including treatments countries, crops and dise
Slide 26: Positive outlook for growth
Positive outlook 26 for growth How growth will be achieved The team at Eden now has the necessary The pipeline of products that Eden capabilities to formulate, develop, test is developing covers the following (up to pot plant level) and register addressable markets/applications: products that it has
Slide 27: Downy mildew: Addressing an unmet need
Downy mildew 27 Addressing an unmet need Background Current status Due to the recent restriction of a number Second year regulatory field of key downy mildew products, there is a trials are complete with good strong need for replacement products. results received. Corteva has been appointed as our n
Slide 28: Sustaine: Addressing the rising microplastics issue
Sustaine® 28 Addressing the rising microplastics issue Background Current status In addition to using microencapsulation system, Field trials underway with Sustaine, in our in-house developed products, multiple industry partners. such as Mevalone and Cedroz, it is possible to use Sustaine with third
Slide 29: Investment summary
Investment summary 29 01 Commercialisation Eden well-placed to further commercialise multiple products in order to accelerate 05 Increase number of commercial partners Opportunity to increase the number growth of commercial partners and diversify product range 02 Technology exploitation Ability to e
Slide 30: Thank you
THANK YOU CONTACT: INFO@EDENRESEARCH.COM LSE: EDEN.L