Eden Research Plc · LSE:EDEN
Eden Research — Shareholder Meeting (June 2024)
44 slides from Eden Research's shareholder meeting presentation, Jun 27, 2024
Slide 1: Eden Research plc Annual General Meeting
Eden Research plc Annual General Meeting 27th June 2024 London
Slide 2: Eden Research plc is an AIM-quoted company focused on sustainable biopesticides
2 Eden Research plc is an AIM-quoted company focused on sustainable biopesticides and plastic-free encapsulation technology for use in the global crop protection, animal health and consumer products industries. Eden Research 2024 Annual General Meeting | June 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 - 9+ y
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 22 ~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% $1
Slide 7: 2023 Commercial and Operational Highlights
2023 Commercial and Operational Highlights 7 • Significant milestone achieved with pre-launch of seed treatment, Ecovelex™, and the granting of a temporary approval in Italy for use in the 2024 growing season • Expansion of regulatory approvals in the US for flagship biopesticides, Mevalone® and Ced
Slide 8: Financials – 2023 Results
Financials – 2023 Results 8 • Significant increase in revenue: 2023 2022 2021 • 78% in 2023 % % £m £m £m change change • 50% in 2022 Revenue 3.2 78 1.8 50 1.2 • Significant increase in product sales: • 63% in 2023* Product sales 2.6 63 1.6 45 1.1 • 45% in 2022 Operating loss (1.9) (27) (2.6) (19) (3
Slide 9: Upcoming news-flow
Upcoming news-flow 9 • Mevalone approvals in Central Europe H2, 2024 • Commercial agreements for insecticide H2, 2024 • Emergency Use applications Ecovelex H2, 2024 • Commercial agreement(s) for home and garden H2, 2024 • Label extensions for Mevalone in various countries (e.g. Spain, France) Q2 / Q
Slide 10: Our Products
THE NATURAL SOLUTION OUR PRODUCTS
Slide 11: Our product focus
Our product focus 11 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 12: Product characteristics
Product characteristics 12 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 13: Mevalone Biofungicide
Mevalone® 13 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 14: Clear results, Robust efficacy
14 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 t
Slide 15: Cedroz Bio-nematicide
Cedroz™ 15 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
Slide 16: Severity of root damage
16 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 Annual
Slide 17: Ecovelex Bird repellent seed treatment
Ecovelex™ Ecovelex™ 17 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
Slide 18: Ecovelex efficacy
Ecovelex™ 18 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) Eden Research 2024 Annual G
Slide 19: Seed treatments
Seed treatments 19 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 20: Insecticide
Insecticide 20 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 and 2025 Due to a ban on numerous insecticides, with that in 2021 & 2022 such as n
Slide 21: Insecticide Efficacy Overview
Insecticide 21 Efficacy Overview Bioassays using Two-spotted spider mites have been run to compare the efficacy of the active ingredients in IN020. IN020 is more efficacious than its component parts – a critical characteristic for successful registration Active 1 Active 2 INO20 Eden Research 2024 An
Slide 22: Research Tools Olfactometry
Research Tools 22 Olfactometry 35 Tracking individual aphids to look for 30 behavioural differences – time spent in the odour zones vs time spent in 25 % time spent in zone the non-odour zones. 20 15 The olfactometer is a tool that can be used to study insect behaviour in 10 response to chemical sti
Slide 23: Insecticide: Eden laboratory trials
Insecticide 23 Eden laboratory trials 100 100 80 80 Abbotts corrected mortality (%) Abbotts corrected mortality (%) 60 60 40 40 20 20 0 0 24 48 72 24 48 72 24 48 72 24 48 72 IN020 Gazelle INO20 IN020 Biocontrol Std. Requiem Prime INO20 Conventional Std. Treatment Treatment Efficacy (%) against aphid
Slide 24: Insecticide: External laboratory trials
Insecticide 24 External laboratory trials 100 90 80 Mean percentage mortality (%) 70 60 50 40 30 20 10 0 Water Water control INO20 IN020E Biocontrol Flipper 1 Biocontrol Requiem 2 Efficacy (%) against thrip - adults Eden Research 2024 Annual General Meeting | June 2024 (Summary of 2 trials, error ba
Slide 25: Insecticide
Insecticide 25 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 Annual General Meeting | Jun
Slide 26: Insecticide
Insecticide 26 HT Efficacy (%) against Spider mite - nymph (Summary of 2 trials, 4 applications at 7-day interval, error bars = standard error) 100 90 80 70 60 50 40 30 20 10 0 IN020E8.9L/Ha INO20 8.9 L/ha Flipper Std EU Biocontrol (fatty acids C7-C20) Eden Research 2024 Annual General Meeting | Jun
Slide 27: Insecticide
Insecticide 27 HT Efficacy (%) against Spider mite - adult (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 acids C7-C20)Std DA-A DA-B DA-C DA-D 14+ DA-D Eden Research 2024
Slide 28: Insecticide
Insecticide 28 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 (flupyradifurone) St
Slide 29: Insecticide
Insecticide 29 HT Efficacy (%) against Whitefly - nymph (Summary of 7 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 Malice 2F Flipper INO20 8.9L/Ha Conventional Std. (imidacroprid) EU(fatty Biocontrol Std. acids C7-C20) DA-A DA
Slide 30: Insecticide
Insecticide 30 HT Efficacy (%) against Whitefly - adult (Summary of 7 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 Flipper INO20 8.9L/Ha Biological Std. (Bauveria bassiana) Conventional (flupyradifur
Slide 31: Insecticide Mode of action
Insecticide 31 Mode of action Healthy versus treated white fly scales Healthy Whitefly Scale IN020 Eden Research 2024 Annual General Meeting | June 2024
Slide 32: Insecticide Mode of action
Insecticide 32 Mode of action Treated white fly scales Eden Research 2024 Annual General Meeting | June 2024
Slide 33: Commercial Positioning
THE NATURAL SOLUTION COMMERCIAL POSITIONING 33
Slide 34: Regulatory position
Regulatory position 34 EFSA (EU) Organic (EU) EPA (US) Rest of the World Application for the renewal of Eden’s All three of Eden’s active ingredients The latest news is that EPA has Eden is working with Sipcam three active ingredients (eugenol, have been approved as inputs for approved Eden’s three
Slide 35: Commercial footprint
Commercial footprint 35 Our presence in Europe grew in 2022-23 through new authorisations for both Cedroz™ and Mevalone®, and we anticipate further approvals in Europe and further abroad in 2024. Our US EPA approval for the sale of Mevalone® and Cedroz™ was granted in September 2022. We have commerc
Slide 36: Strategy and Growth Opportunities
36 STRATEGY AND GROWTH OPPORTUNITIES
Slide 37: Our strategy
Our strategy 37 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 38: Positive outlook for growth
Positive outlook 38 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 39: Downy mildew: Addressing an unmet need
Downy mildew 39 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 results received. strong need for replacement products. Corteva has been appointed Eden has
Slide 40: Significant additional growth opportunities
Significant additional 40 growth opportunities Evaluations in additional areas of significant commercial potential include: Black sigatoka Potato (banana) blight Wire Potato cyst worm nematodes In each case, the initial evaluations have produced encouraging results Eden Research 2024 Annual General
Slide 41: Sustaine: Addressing the rising microplastics issue
Sustaine® 41 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 42: Innovation capacity
Innovation capacity 42 Development Laboratories are Eden’s product of in-house now GLP-ready development R&D – reduces and operating platform consists dependency to this standard of three registered on 3rd parties, In-house capabilities adding credibility Costs partially offset active ingredients Th
Slide 43: Investment summary
Investment summary 43 01 Commercialisation Eden well-placed to further commercialise 05 Increase number of commercial partners multiple products in order to accelerate Opportunity to increase the number growth of commercial partners and diversify product range 02 Technology exploitation Ability to e
Slide 44: Thank you
THANK YOU CONTACT: INFO@EDENRESEARCH.COM