RCS - Plant Health Care - New Products Submitted for Regulatory Approval

Plant Health CareAnnouncement

22/12/2022 07:00

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RNS Number : 5442K  Plant Health Care PLC  22 December 2022

Reach

 

22 December 2022

 

PLANT HEALTH CARE plc

("Plant Health Care" or the "Company")

 

New Products Submitted for Regulatory Approval

 

PHC279 and PHC949 submitted for approval in Brazil

 

Plant Health Care(®) (AIM: PHC.L), a leading provider of peptides for plant
protection to global agriculture markets, has submitted applications to the
regulatory agencies in Brazil for approval to commercialize the Company's
newest products, PHC279 and PHC949 for use on major crops in Brazil.

 

Brazil is the world's largest producer of sugar cane and coffee.  In the
latest season, Brazil had 8.3 million hectares of sugar cane under cultivation
and more than 2.2 million hectares of coffee.  PHC279 was submitted for the
control of sugar cane orange rust (Puccinia kuehnii) and coffee leaf rust
(Hemileia vastatrix).  PHC279 is the active ingredient in the Company's
product Saori(®), which is already used in Brazil for the prevention and
treatment of soybean diseases.

 

PHC949 was submitted as a seed treatment for the control of root-lesion
nematode (Pratylenchus brachyurus) in soybean. It is a novel product that
amplifies a plant's natural defense against damaging nematodes (a
"bionematicide"), increasing plant health and yield in a variety of crops. For
2022/23, the soybean harvested area in Brazil is forecast to be 42.9 million
hectares. Results from field studies show PHC949 may provide control of
harmful nematodes comparable to the traditional chemical nematicides and
superior to current biological products.

 

Both products are derived from the Company's PREtec technology platform
(Vaccines for Plants(TM)). Derived from natural proteins, PREtec is an
environmentally friendly technology which stimulates crop growth and ability
to withstand a variety of abiotic stresses as well as to improve disease
control, plant health and yield. PREtec is compatible with mainstream
agricultural practices.  Saori was the first PREtec product fully launched
in Brazil in late 2021 generating revenue of $0.8 million in the six months to
30 June 2022.

 

The Brazilian authorities do not commit to a specific timeline for granting
regulatory licenses.  However, the Company expects the review to start soon
and given the accelerated review previously granted to Saori, anticipates
regulatory licenses will be granted in 1-2 years.

 

Plant Health Care continues to expand into new markets around the world and is
growing its relationships with major global distribution partners. The Company
is on track to achieve revenue of $30 million by 2025 through the launch of
new products and continued organic business growth through current and future
distributor relationships.

 

Jeff Tweedy, CEO of Plant Health Care, said: ‟Building on the success of
Saori, the vision for the company is to be a leading provider of peptides for
agricultural production.  These registration submissions are key steps for
Plant Health Care in meeting our $30 million revenue target by 2025.  As well
as waiting for regulatory licenses we are having discussions with potential
distributors for PHC279 and PHC949. These products will help Brazilian farmers
sustainably produce their crops."

 

For further information, please contact:

 

 Plant Health Care plc                       +1 919 926 1600
 Jeff Tweedy, CEO
 Cenkos Securities plc - Nomad & Broker      +44 (0) 131 220 9771
 Neil McDonald / Pete Lynch
 SEC Newgate - Financial Communications      +44 (0)7540 10666
 Robin Tozer / George Esmond                 phc@secnewgate.co.uk (mailto:phc@secnewgate.co.uk)

 

 

About Plant Health Care

Plant Health Care offers products to improve the health, vigour and yield of
major field crops such as corn, soybeans, potatoes and rice, as well as
specialty crops such as fruits and vegetables. We operate globally through
subsidiaries, distributors and supply agreements with major industry partners.
Our innovative, patent-protected biological products help growers to protect
their crops from stress and diseases, and to produce higher quality fruit and
vegetables, with a favourable environmental profile.

 

 Find out more at www.planthealthcare.com (http://www.planthealthcare.com)

 

 

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