Last checked at 13 Dec 2021 07:00
RNS
13 December 2021
PLANT HEALTH CARE plc
("Plant Health Care" or the "Company")
Commercial-Scale Manufacturing for Saori® Soybean Seed Treatment
Plant Health Care® (AIM: PHC.L) a leading provider of novel patent-protected biological products to global agriculture markets, is pleased to provide the following update in relation to the volume manufacture of its Saori soybean seed treatment, recently launched in Brazil with Nutrien Ag Solutions.
Highlights
- Signed a production and supply agreement with a leading European-based fermentation company, securing production capacity of PHC279, the active ingredient in its Saori soybean seed treatment, to meet projected global demand.
- Volume production cost targets have been met, ensuring an attractive gross margin for the Company and an attractive Return on Investment (ROI) for soybean farmers in Brazil.
- Commencing pilot-scale manufacturing of other PREtec peptides within the same facility in support of new product regulatory filings and, ultimately, commercial-scale manufacturing of a portfolio of PREtec-based products.
Overview
Saori, which is proven to make soy plants healthier, improve resistance to disease and increases yield in an environmentally sustainable way, is the Company's first product from its PREtec platform to be commercialised and is the first PREtec peptide approved in Brazil.
PREtec peptides represent a novel class of technology which stimulate the plant to defend itself. Derived from natural proteins, PREtec is an environmentally friendly approach to protecting crops and is compatible with mainstream agricultural practices.
The Company intends to commercialise Saori and other PREtec peptides in markets worth more than $5 billion.
The launch of PHC279 in the USA will follow, once regulatory licences have been obtained, which is anticipated in the second half of 2022.
Chris Richards, CEO of Plant Health Care said, "We are delighted to have achieved this critical milestone in bringing our exciting new technology to market around the world. This new agreement establishes a first-class capability to supply Saori directly to our distribution partner in Brazil. Initial grower response to the launch of the Saori soybean seed treatment with Nutrien Ag Solutions in Brazil has been most encouraging and we are pleased to have established manufacturing arrangements to support wider adoption of PHC279 in 2022 and beyond."
For further information, please contact:
Plant Health Care plc Tel: +1 919 926 1600
Chris Richards, CEO
Arden Partners plc - Nomad & Joint Broker Tel: +44 (0) 20 7614 5900
John Llewellyn-Lloyd / Antonio Bossi
Cenkos Securities plc - Joint Broker Tel: +44 (0) 20 7391 8900
Neil McDonald / Peter Lynch
Vox Markets - Digital investor relations Tel: +44 (0) 7866 384707
Paul Cornelius / Kat Perez
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 Vox Markets and the company website: www.planthealthcare.com
This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.