Eden Research plc, the AIM-quoted company focused on sustainable biopesticides and plastic-free formulation technologies for use in the global crop protection, animal health and consumer products industries, is pleased to provide an update on the development of its bioinsecticide product following the receipt of recent field trial reports. The trials, which were undertaken by several potential commercial partners for the product, as well as by Eden, represent a significant milestone in the process of bringing the Company's new bioinsecticide to market as Eden continues to develop and expand its product portfolio, in line with its business strategy.
In the more than 30 laboratory trials and more than 140 field trials run in Europe and the United States, the developmental bioinsecticide product was tested against aphids, spider mites, whiteflies and other target pests at various stages of their development. Results showed strong efficacy against all life stages of these key pests and equivalent or superior performance when compared with registered biological reference products produced by some of the world's leading biochemical companies.
Every year, up to 40% of crops are lost due to plant pests and diseases, whilst the United Nations estimates that 50% more food will be needed to feed the world's growing population by 2050. Insects remain one of the most significant challenges to farming efforts across the globe, causing both direct and indirect damage to crops through feeding and the transmission of disease, costing the global economy an estimated $70 billion a year, according to the UN's Food and Agriculture Organization. At the same time, conventional insecticide products face increased regulatory scrutiny due to their potential for harmful effects on the environment and wildlife, including bees and other beneficial insects. Demand is high for sustainable products, like Eden's bioinsecticide, that can provide farmers with sustainable and competitive alternatives, providing similar ease-of-use, efficacy, safety, cost and reliability, representing a significant global market opportunity for Eden.
Sean Smith, Chief Executive Officer of Eden Research, commented:
"These promising results further demonstrate Eden's ability to develop market-leading biological formulations at a time when conventional insecticide products are being phased out due to regulatory action. The trials, undertaken by Eden and independently by several potential commercial partners interested in gaining rights to the product, show extremely promising efficacy and consistency in combating these pests known to critically impact crop yields. This is an exciting step in our journey to bring this product to farmers who are looking for effective, sustainable solutions to control pests, whilst also making further progress against our product diversification and business growth objectives."
