Eden Research PLC (AIM:EDEN, OTCQB:EDNSF) CEO Sean Smith discusses with Proactive the regulatory approval for fungicide Mevalone in Germany, its fourth approval in a year.
Sean Smith: It's very good news and very good progress. For those who have been following this story, they may recall that with regulatory approvals in the EU, we go through a zonal process for the approval of our products.
Germany is quite a significant country within what is classified as the central zone within the European Union.
Sean Smith: Last year we had authorization from Poland. Poland was acting as the rapporteur member state for the central zone.
We now have authorisation in Germany as well, which is quite a key country for us and soon to follow we expect authorisations in other key countries such as Austria and Hungary.
Proactive: Why is Germany a key country, and what is Mevalone authorised for there?
Sean Smith: Mevalone in Germany has been approved for use on grapes to combat the disease Botrytis, which is quite a significant disease in the German market because of the growing conditions, particularly pertaining to weather.
And also, we've been authorized for use on apples. Germany is the fourth-largest producer of grapes in Europe, and they're also the fourth-largest producer of apples.
Sean Smith: So, it's an attractive market. It's important to note that we have already established a distribution partnership in Germany with Sumi Agro Germany.
Sumi Agro is a part of Sumitomo Corporation and we have partnerships with a number of other Sumi Agro companies across Europe, including Poland.
Sean Smith: Germany is really keen to get hold of the product. Every single year, we attend a big congress with those guys, and we sit down and talk.
Every year they've been asking us the question, when are we going to get the approval?
Finally, this year, I can look forward to the meeting and say, yeah, we finally have it.
Proactive: Due to the relationship with Sumi Agro, will you be able to get going quite quickly in Germany?
Sean Smith: This approval has come relatively late in the season.
The application window for Mevalone in Germany would be essentially now.
However, one can never anticipate when that regulatory approval is actually going to happen.
We are getting our skates on collectively to try to get some product into the market for the current season.
Sean Smith: I think we will be successful with that one, but stay tuned.
We will update the market as and when appropriate.
When I say that all of us are very keen to get the product in growers' hands, and as growers are keen to get the product into their hands, it's not an understatement to say we're doing everything we possibly can to get the product there in time for the current season.
Sean Smith: In reality, we expect a much more meaningful impact on our own revenue next year.
We have ample time to prepare the market, and in fact, they have been preparing the market already.
Proactive: Sean, you have also appointed a new head of regulatory affairs. I presume that will help smooth out the process as you enter more jurisdictions.
Sean Smith: It will. About four and a bit years ago, we appointed Mike Carroll as Eden's first-ever internal head of regulatory affairs.
Mike joined us with more than 30 years of experience in the industry, having worked for a good number of very well-recognized names.
He has been really successful in helping us to establish internal regulatory affairs management.
Sean Smith: Up to that point, we had done all of this through contractors and for a number of reasons, which are probably obvious.
You know, that model is a bit challenged when you're relying on consultants whose actual business is their own business rather than Eden’s business.
Mike has brought real focus, energy, and a lot of experience to the team. We're happy to say that he's retiring, and after a brief handover period, Ilshad Moulan will take the reins.
Sean Smith: Ilshad joined us actually earlier this week. He's also a very experienced individual.
He's already contributing to the team, and we're really excited for Ilshad to get his feet fully under the desk and begin helping us make further progress.