Bothell, Washington
February 16, 2005
Eden Bioscience Corporation (NASDAQ: EDEN), which develops,
manufactures and markets innovative, natural protein-based
products for improving crop production and plant health, today
announced that it has received unconditional registration from
the U.S. Environmental Protection
Agency for ProAct™, a new generation of foliar-applied
harpin protein designed to increase field crop yields. The
company plans to register ProAct in all states except California
for use during the 2005 season.
Eden Bioscience specifically
developed the next generation harpin protein used in ProAct to
enhance yield in row crops such as corn, cotton, and rice. In
2002, in-house laboratory tests demonstrated that ProAct had the
potential to deliver growth performance at application rates
substantially below our first generation harpin protein used in
Messenger®. In 2003, ProAct was field tested by independent
scientists in replicated trials to determine actual crop
performance at various application rates and timings. In those
trials, ProAct delivered an average yield increase of 9% in
cotton and 8% in corn at application rates containing one-sixth
the active ingredient used in Messenger. In 2004, Eden
Bioscience sponsored a broad range of both commercial field
trials and replicated trials conducted by independent crop
scientists and consultants under an Experimental Use Permit
issued by the EPA. In over 20 commercial and replicated cotton
trials conducted by leading independent cotton experts, ProAct
provided increased yields across all tested application rates
and timings. In cotton, we believe the one ounce per acre
application rate will provide the most attractive return on
investment for growers with an average yield increase of 11%
when applied with glyphosate herbicide and 9% when applied after
glyphosate, said Dr. Rhett Atkins, President and Chief Executive
Officer. In 11 replicated corn trials conducted by leading
independent corn experts, ProAct increased yields on average by
8 bushels per acre at the one-half ounce per acre rate when
applied with the first application of glyphosate herbicide. We
believe the economic benefit to growers is favorable in both
crops. Using the data from cotton trials, at a yield of 800
pounds, a cotton price of $0.50 per pound, and our target grower
price of approximately $6.00 per ounce, this would calculate
into a profit increase of about $38 an acre for an approximately
$6 investment. Using the data from corn trials, at an average
corn price of $2.00 per bushel, this would calculate into a
profit increase of about $13 an acre for an approximately $3
investment.
We concentrated our 2004 EUP
program in cotton and corn because of the size of the market in
these crops. In addition to validating ProAct performance in the
field, one of our main objectives was to demonstrate the results
of using ProAct in conjunction with existing foliar sprays so
there would be no extra application costs. In both cotton and
corn, positive yield increases were seen when ProAct was applied
along with the crops first application of glyphosate herbicide
on tolerant varieties and hybrids. We will test and expect
ProAct to produce similar results when used with most other
post-emergence herbicide programs, though ProAct also may be
applied with insecticides, fungicides, or alone, Dr. Atkins
said. Last year, we also tested ProAct in 3 replicated rice
trials conducted by leading independent rice experts and found
that ProAct produced an average yield increase of 6 bushels per
acre at the one-half ounce application rate. Using an average
price of $3.00 per bushel, this would calculate into a profit
increase of about $15 an acre for approximately a $3 investment.
We will continue to research the most effective ways to use
ProAct in other field crops in 2005.
Corn growers will be trying ProAct
on their fields this summer as part of a special ProAct
Partnership Program co-sponsored by Eden Bioscience and the
National Corn Growers Association
(NCGA). In the Partnership Program, NCGA members will be using
ProAct on trial plots of about 20 acres each. They will monitor
yield increases and other beneficial results from ProAct
treatments. The program also will provide further information on
ProAct performance in a variety of post-emergence weed
management systems, growing conditions, and tillage systems
across the Corn Belt. NCGA members also qualify for a $1/ounce
discount on ProAct.
In Cotton, ProAct can be teamed
with N-Hibit™ Seed Treatment, which is another harpin product
introduced by Eden Bioscience this year and granted full EPA
registration last year. NHibit is designed to reduce nematode
egg production and feeding stress by activating the cotton
plants natural self-defense and growth systems. Research
conducted at the University of Arkansas found that N-Hibit
reduced Root Knot Nematode eggs per dry root weight by 55
percent. This data and other related research findings were
presented at the Beltwide Cotton Conferences earlier this year.
N-Hibit helps the crop get off to a better start during the
critical germination period, and ProAct applied with
post-emergence herbicide at the next important stage of
development increases yield, Dr. Atkins noted.
Harpin proteins are produced by
disease causing bacteria that attack plants, and most plants
have developed early warning receptor molecules that detect
harpin proteins. When a Harp-N-Tek product is applied to a
plant, the receptors respond as though being attacked, even in
the absence of disease pressure. The plants activate their
self-defense and growth systems. ProAct produces yield increases
by turning on these responses, which result in improved crop
vigor, stamina and health all factors in yield.
Harpin proteins do not enter the
seed or plant. They bind with the plants external harpin protein
receptors. Once theyve done that and turned on the plants
internal signals, the harpin proteins harmlessly disintegrate,
leaving no detectable residue. ProAct and other Harp-N-Tek™
products are easy to apply, have an excellent safety profile,
the shortest re-entry interval allowed, and leave no residuals
in the soil or plants.
Eden Bioscience was founded in
1994. Corporate headquarters are located in Bothell, Washington,
where the company maintains manufacturing and research
facilities.
ProAct™, Harp-N-Tek™, and
N-Hibit™ are trademarks and Eden Bioscience® is a registered
trademark of Eden Bioscience Corporation.
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