News Archive
Preliminary Results for the year ended 31 December 2007
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Highlights
- Eden’s lead fungicide for control of botrytis (3AEY) is near completion of the key European regulatory process required to facilitate sale of product
- Licence agreement signed with Cheminova for 3AEY’s terpene based botrytis treatment for Europe and US – later extended to additional territories of Australia, New Zealand and South Africa
- Strengthened relationships with existing commercial partners and currently identifying and developing new relationships with commercial partners, particularly in Asia
- Revenue in 2007 was £0.4 million, up from £0.1 million in 2006. Operating loss for the year was £2.5 million compared to £3.5 million (restated) for the previous year. Loss before tax was £2.5 million (restated), down from £3.7 million in 2006
- Board significantly strengthened through the appointments of Clive Newitt and Alex Abrey to the Executive Board, and Sir Ben Gill and Stephen O’Brien, MP appointed as non-executive Directors
Tim Griffiths, Chief Executive said:
“We are pleased with the progress made over this past year which is taking us closer towards commercialisation. To have taken our patented crop protection technologies from early concept to the worldwide market this year is a major achievement”.
“Eden’s first crop protection product will shortly be available to the world’s farmers and growers to help meet the growing demand for high quality low risk food. With a strengthened team, at both Board and operational level, we are confident that the safe and broad nature of our product portfolio will enable us to focus on delivering commercialisation of our products for our shareholders.”
Tim Griffiths, Chief Executive, Eden Research plc
T: 01993 868844
Matthew Robinson, JM Finn Capital Markets Ltd
T : 020 7600 1658
Jonathon Brill/Caroline Stewart, Financial Dynamics
T: 020 7831 3113