22 June 2010
EDEN RESEARCH PLC
("Eden" or "Company")
Option Agreement with Certis Europe BV for nematodes
Eden Research plc, a leading UK agrochemical development company, today announces that it has signed an exclusive
option agreement for its nematicide product and technology with Certis Europe BV ("Certis") based in
Maarssen, Netherlands. The agreement gives Certis a period of twelve months exclusivity within which it will
conduct various investigations on the performance and economics of the product and technology following which
it can exercise its option and enter into an exclusive licence agreement for the use of Eden's nematicide
product in major markets in Europe, Asia, Africa, the Middle East and Oceania.
The agreement provides for Certis to pay an upfront fee of $100,000 followed by a license fee on exercise of the
option of $900,000, plus an annual royalty payment once sales have begun.
Eden's nematicide product is based upon two of the terpenes contained in its 3-AEY Botrytis product that is
already well advanced in its EU registration process. Terpenes are natural compounds which function as
defence mechanisms in many plant groups and are released in response to infection, attack by pests (in this
case soil-inhabiting nematodes), stress or mechanical injury. Terpenes are already widely used in the food
flavouring, cosmetic and pharmaceutical industries.
Certis Europe BV is a well established crop protection business with direct operations in key European markets
which combines proprietary products with those from a range of supplier partners in a wide-ranging portfolio.
Certis' majority shareholder is Mitsui Agriscience, part of Mitsui & Co., a $57 billion global trading
company with diverse business interests in over 90 countries. Mitsui's global sales in the agriscience sector
are in excess of $486 million per annum and the company markets a wide variety of pesticides and
biopesticides, as well as biological pest control products and services through its European, African,
Japanese and US subsidiaries.
Clive Newitt, Managing Director of Eden Research, said:
"This is a significant step forward for Eden as the worldwide nematicide and soil fumigant market is around $1
billion per annum and, therefore, provides us with the potential for significant future revenues. Our
nematicide is the next significant product in our portfolio to be commercialised and this agreement is a very
good start in licensing the product on a worldwide basis. It leaves us only the North American and South
American regions to be out-licensed in the future. The worldwide nematode market is currently crying out for
new products with advantageous safety profiles, such as ours, to replace those products which are being or
have already been banned or restricted in use."
Kevin Price, corporate marketing manager of Certis Europe, said:
"Certis Europe is continuously working on further strengthening of our CleanStart offer to the
market. CleanStart comprises a range of various soil treatment products and solutions for prevention
and control of pests and diseases. We are continuously looking for effective, safe and innovative
solutions with a good safety profile for man and environment that can complement our current product
range that includes the soil disinfectants Basamid and DD. This terpenes based technology for nematode
control is looking very promising to meet those requirements and we are happy to be able to review it
more in detail during the coming year".
Enquiries:
Eden Research plc 01993 862761
Clive Newitt, Managing Director
Certis Europe BV
Kevin Price, corporate marketing manager +44 7900 276 216
St Helens Capital Partners LLP 020 7368 6959
Mark Anwyl
Eden Research plc