Eden signed licence agreement with Stockton Agrimor AG for nematodes

Date:11-02-2010

Eden Research plc, a leading UK agrochemical development company, today announces that it has signed an exclusive licence  for its nematicide product for Latin America and Mexico with Stockton Agrimor AG ("Stockton")  based in Zug, Switzerland. Edens strategy is focused on the development and commercialisation of its terpene-based encapsulation technology for agricultural and non-agricultural uses.

The agreement provides for Stockton to pay an upfront licence fee and milestone payments totalling $125,000 within the following twelve months plus an annual royalty payment once sales have begun.

Edens  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.

The  Stockton Group is a global company that develops, supports, and distributes high quality crop protection products  and  innovative  eco-friendly  solutions to a diverse group  of  customers  worldwide.   The  Groupcurrently maintains a local presence in more than 35 countries holding more than 320 product registrations of branded  pesticides.   Among  its  products,  the Stockton Group distributes  its  own  proprietary  line  of biopesticides, which it developed in its R&D centre in Israel.

Clive Newitt, Managing Director of Eden Research, said:

"Further to the announcement of the agreement with Certis Europe BV, the licence agreement with Stockton means that we have tied up another significant market for our nematicide. This leaves the USA and Canada to be out- licensed for which we are already negotiating with a number of potential partners.

We look forward to working with Stockton on this project and any other potential applications that may arise as a result of our collaboration."

Liora Lipetz, Chief Executive Officer of Stockton, said:

"This collaboration will boost our existing line of new generation biopesticides, meeting the evolving needs of both growers and crops.  By adding this natural nematacide to our portfolio, we believe that we are enhancing our  commitment to introduce integrated eco-friendly solutions to our customers.  Clearly, our experience and market access in Latin America make us a valuable partner to Eden in that region.

Our  growth  strategy is based on co-operation with industry partners as much as it is based on our  own  R&D achievements."