Eden Research PLC agrees ‘milestone’ seed treatment deal with US agriscience

() said it has signed a ‘milestone agreement’ with Corteva Agrisciences for its seed treatment application.

While financial terms weren’t released, the AIM-listed bio-pesticides specialist said the deal provided the US giant with exclusive commercialisation, supply and distribution rights covering the EU, UK and Serbia.

It followed the successful 2019 evaluation of the Eden product, which is based on its Sustaine encapsulation technology, natural, plastic-free, biodegradable microspheres.

The pair will collaborate on additional uses for Eden’s products and technology in the US$6.5bn seed treatment market.

Eden chief executive Sean Smith said: “The agreement with Corteva is a defining moment for Eden and clearly demonstrates the next major step in the development of a new product in the significant seed treatment market, whilst also expanding our product coverage to broad acre crops.

“Corteva is one of the largest agriculture input companies in the world and has extensive expertise in the seed treatments field.”

While the agreement will have long-term ramifications for the business, Eden said in Wednesday’s announcement that it “does not change management expectations in the short term”.