Plant Health Regulatory News (PHC)

RNS

2 March 2023

PLANT HEALTH CARE plc

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

Biofungicide PHC279 Approved by US EPA 

Plant Health Care® (AIM: PHC.L), a leading provider of novel patent-protected biological crop protection products to global agriculture markets, is pleased to announce US Environmental Protection Agency commercial approval of its novel peptide fungicide, coded as PHC279.

Wilbur-Ellis® Agribusiness, one of the largest U.S. retailers of agricultural products, is expected to commence sales of PHC279 within key US markets under the brand Obrona in 2023.

Plant Health Care and Wilbur-Ellis have been working exclusively together since 2020 on the development and commercialisation of PHC279 in high value specialty and row crop agriculture markets. Obrona is a unique product developed to help growers control a wide range of fungal and bacterial plant pathogens, particularly in fruits, nuts, vegetables, and row crops. Multiple years of product validation field trials have produced a robust data set to support initial launch targeted to control powdery and downy mildew and various other diseases in grapes as well as white mold (Sclerotinia sclerotiorum) and other diseases affecting leafy vegetables within key Western US states as well as gray leaf spot, common rust and northern corn leaf blight in tank mixes in corn. 

Derived from natural proteins, PHC279 is the first product from the Company's PREtec technology platform (Vaccines for Plants™) that will be available to US farmers. PREtec stimulates crop growth and the ability to withstand a variety of abiotic stresses as well as to improve disease control, plant health and yield. The Company's initial PREtec product, Saori® is being successfully used in Brazil for the prevention and treatment of soybean diseases.

PREtec provides growers with a novel and environmentally friendly approach to growing crops and is compatible with mainstream agricultural practice. As part of an integrated pest management program, PHC279 will reduce reliance on older synthetic pesticides. The availability of Obrona will support farmers seeking to use more sustainable and environmentally friendly practices while continuing to provide safe, abundant, and high-quality food.

Plant Health Care continues to expand into new markets around the world through strategic partnerships 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 growth through current and future distributor relationships.

Jeff Tweedy, CEO of Plant Health Care, said: ‟Today's announcement marks another significant milestone for Plant Health Care. I am pleased that along with Wilbur-Ellis we are one-step closer to the first sales of Obrona in the US, the first product available in the US from our PREtec technology platform. Obrona will support sustainable agriculture with better crops delivering higher yield for thousands of farmers. Wilbur-Ellis has proven to be a strong partner over the years, supporting our Employ® product since 2019, and we look forward to similar success with Obrona."

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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

This announcement contains inside information as stipulated under the UK version of the Market Abuse Regulation No 596/2014 which is part of English Law by virtue of the European (Withdrawal) Act 2018, as amended.