10th Feb 2016 09:12
LONDON (Alliance News) - Eden Research PLC Wednesday said its partner K&N Efthymiadis SA, part of the Redestos Group, has placed its first order for botrytis treatment Mevalone in Greece.
Mevalone is the trade named used for Eden's fungicidal agrochemical product 3AEY, used to cure botrytis - or grey mould- on table and wine grapes.
Eden Research said plans are also underway in Greece to submit label extensions to allow the use of the treatment on a wider range of crops such as kiwi, aubergine, green onion and pomegranate. It expects these label extensions to be received by 2016.
Under their partnership agreement, Eden will receive royalties based on the net sales of Mevalone by Redestos.
"As we have stated previously, this year represents one of tremendous progress for Eden and its partners as we transition into commercial sales from our development and registration phase. Our licensees and distributors are now able to realise the initial potential of Eden's product pipeline, and with further label extensions and partnerships to come, we are pleased with the prospects for the future," said Chief Executive Officer Sean Smith in a statement.
Shares in Eden were up 17% at 9.84 pence Wednesday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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