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LONDON (Alliance News) - AIM-listed Eden Research PLC on Thursday said it has received authorisation in Italy for its first product, 3AEY, for use in the prevention and treatment of botrytis in table and wine grapes.
Sipcam SpA, the company's partner, will sell 3AEY under the 3LOGY brand name in Italy.
3LOGY is a terpene-based fungicide that can treat and prevent botrytis, a fungal disease that causes grey mould on many fruits and vegetables.
According to Eden Research, the market for Botryticides alone is approximately USD300 million per annum.
"Italy has recently become the largest wine producing country in the world, and so to have 3LOGY registered and available for sale in this important market is clearly very good news for Eden, our partners and the grape growers in Italy. Since we signed the licence agreement with Sipcam in November 2014, there has been a lot of work by both parties to ensure that we could meet the 2016 growing season and to demonstrate the benefits of 3LOGY to growers and distributors," Chief Executive Sean Smith said.
"Following marketing trials undertaken in 2015, 3LOGY has been very well received by customers throughout the EU southern zone," Smith added.
Thursday's news follows Eden Research's announcement Wednesday that its partner K&N Efthymiadis SA, part of the Redestos Group, has placed its first order for botrytis treatment Mevalone in Greece. Mevalone is another trade named used for 3AEY
Shares in Eden Research were up 2.3% at 11.00 pence on Thursday morning.
By Samuel Agini; samagini@alliancenews.com; @samuelagini
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