LONDON (ShareCast) - (ShareCast News) - Microencapsulation technology provider Eden Research announced on Monday that it has received authorisation in Portugal for its first product, Mevalone - previously referred to as '3AEY'.
The AIM-traded company said Portuguese authorities issued 'Authorisation for Sale' number 1012, covering the use of Mevalone for the control of botrytis (grey mould) on grapes.

Mevalone will be marketed in Portugal by Eden's partner, K. & N. Efthymiadis.

Eden Research said Mevalone is a terpene-based fungicide that targets Botrytis, which it described as a "widespread fungal disease" that causes grey mould on many fruits and vegetables leading to the rapid loss of commercially valuable crops.

The firm's board said the approval was a "significant milestone" for Eden, and granted the company access to another one of the top European grape producers.

Mevalone, sold under varying trade names in different countries, had already gained approval in multiple countries including Spain, Italy, Kenya, Malta, Greece, Bulgaria and, mostly recently, France.

Additionally, Eden Research said Mevalone had already produced "significant" commercial success in many of those markets.

"We are delighted to announce that we have gained authorisation for the sale and use of Mevalone in Portugal, further-increasing Eden's geographic footprint," said Eden Research CEO Sean Smith.

"Together with Italy, France and Spain we now operate in the four largest grape producing countries in Europe, and we continue to expand into additional countries worldwide."

Smith said botrytis had the potential to destroy up to 30% of a vineyard in a matter of days, and as a result Mevalone played a "very important role" in the treatment of this disease.

"This approval from the Portuguese authorities opens up significant opportunities for additional crops in Portugal through minor and/or emergency use label extensions.

"Italy recently received emergency authorisation for the use of Mevalone on pomegranate, and we expect to realise further extensions in many current and new territories."

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