News Archive
Licensing deal with Ecostyle BV for 3AEY
Eden Research plc, a leading UK agrochemical development company, today announces that it has entered into an exclusive licensing agreement with Ecostyle BV of Appelscha, Netherlands, for the use of 3AEY in amateur gardening.
The licence agreement provides for Ecostyle to pay upfront and milestone payments of $240,000, plus royalty payments once sales of the products begin.
3AEY is Eden's lead product; a terpene based fungicide. Terpenes are natural compounds which function as defence mechanisms in many plant groups and are released in response to infection, stress or mechanical injury. Terpenes are already widely used in the food flavouring, cosmetic and pharmaceutical industries.
Ecostyle was formed in 1993 in order to meet the "green" demands from the amateur gardener and is active in more than ten countries within Europe with sales of over €11.5m in 2008.
The agreement covers various, but not all, territories within northern and central European markets and also provides Ecostyle with an option to extend their license in the future to cover the remaining EU member states and the countries within the European Free Trade Association, subject to consideration being agreed for those additional territories.
Clive Newitt, Managing Director of Eden Research, said:
"This is an exciting development for Eden. Our products present an ideal solution for the farming industry and amateur gardeners alike as they are naturally derived and as effective as traditional chemicals, as well as being commercially very competitive. Ecostyle is a well regarded company in its sector, known for its pragmatic approach to developing and commercialising products within the amateur gardening industry and we are delighted with their endorsement of our product."
The directors of Eden Research plc are responsible for the contents of this announcement.
Enquiries:
Eden Research plc
Clive Newitt, Managing Director
01993 862761
St Helens Capital Partners LLP
Mark Anwyl or Duncan Vasey
020 7368 6959
Threadneedle Communications
Josh Royston
Beth Harris
020 7653 9850