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(Sharecast News) - Biological crop protection product developer Plant Health Care announced on Thursday that its novel peptide fungicide 'PHC279' has been granted commercial approval by the US Environmental Protection Agency (EPA).
The AIM-traded company said its strategic partner, Wilbur-Ellis Agribusiness, was set to launch the product under the brand name 'Obrona' in key United States markets in 2023.
Developed exclusively by Plant Health Care and Wilbur-Ellis since 2020, the firm described Obrona as a unique product designed to help growers control a range of fungal and bacterial plant pathogens in fruits, nuts, vegetables, and row crops.
After years of product validation field trials, the product had proven itself effective in controlling powdery and downy mildew, as well as various other diseases affecting grapes, leafy vegetables, and corn.
PHC279 is the first product from Plant Health Care's 'PREtec' technology platform to be made available to US farmers.
Derived from natural proteins, PREtec stimulates crop growth, improves disease control, and enhances plant health and yield.
The company's initial PREtec product, 'Saori', was already successful in Brazil for the prevention and treatment of soybean diseases.
In addition to providing a novel and environmentally friendly approach to growing crops, Obrona was also said to be compatible with mainstream agricultural practices.
As part of an integrated pest management programme, Plant Health Care said the product would reduce reliance on older synthetic pesticides, enabling farmers to use more sustainable and environmentally friendly practices while continuing to provide safe, abundant, and high-quality food.
Plant Health Care said it was continuing to expand into new markets through strategic partnerships with major global distribution partners.
With the launch of new products and continued growth through current and future distributor relationships, the firm said it was on track to achieve revenue of $30m by 2025.
At 1131 GMT, shares in Plant Health Care were up 7.62% at 11.3p.
Reporting by Josh White for Sharecast.com.
