Eden Research reports reduced loss in preliminary 2022 reports

Eden Research, the Oxford-based sustainable biopesticide company, has reported a reduced year-on-year loss with increased revenue in its preliminary reports for 2022.

The company reported a revenue of £1.8 million, up from £1.2 million in 2021, leading to a loss before tax of £2.6 million (down from £3.4 million in 2021) and a statutory operating loss of £2.6 million, down from £3.2 million in 2021.

Along with seeing its financials moving in the right direction, Eden has had a busy commercial and operational year.

Highlights include regulatory approval from the Environmental Protection Agency in the US for six petitions, certification in Greece for Mevalone and Cedroz and an agreement signed with Corteva France allowing Corteva to market distribute and sell Mevalone in France.

Read more - Oxford’s Eden Research gets go-ahead for biofungicide in Poland

Eden is also moving towards the commercialisation of two new products, one of which is in partnership with Corteva.

Since the end of 2022, the company has received its first regulatory approval for the home garden market following clearance for Mevalone in Italy, regulatory approval across a number of US states for Mevalone and Cedroz and regulatory approval in Poland for use of Mevalone on grapes and post-harvest storage diseased in apples.

Lykele van der Broek, Chairman of Eden Research plc, said: "2022 was a positive year for Eden with a return to strong sales growth and approval for Eden's two commercial products, Mevalone and Cedroz, and three active ingredients granted approval in the US.

“2023 looks set to provide a number of significant opportunities including further territorial expansion and targeted diseases, increased products sales, and the continued development of other product lines such as our seed treatment and insecticide projects."

Read more - Biopesticide firm Eden Research wins approval in multiple US states