Plant Health Regulatory News (PHC)

RNS

31 January 2022

PLANT HEALTH CARE plc

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

PHC949 submitted for product registration in the USA

Plant Health Care® (AIM: PHC.L), a leading provider of novel patent-protected biological products to global agriculture markets, announces it has submitted a new application to the US Environmental Protection Agency (EPA) for registration of its novel peptide product, PHC949, for the control of damaging soil nematodes.

Highlights

- PHC949 is the second new product from Plant Health Care's PREtec (Vaccines for PlantsTM) technology platform; the Company plans one major new launch every year.

- The Company is targeting PHC949 against nematodes (soil pests), a market forecast to be worth $1.6 billion globally by 2025; these pests reduce crop yields by some $100 billion annually.

- In the USA, PHC949 is being co-developed with Wilbur-Ellis for nematode control in high-value specialty crops. Wilbur-Ellis, a $3.4bn distributor of crop inputs, plans to launch the product in the second half of 2023, soon after registration by the EPA.

- Field trials of PHC949 in the USA show outstanding control of nematodes; for example, in peppers PHC949 increased marketable yield by about 3,265 lbs/acre, worth an extra $2,070/acre.

- Field trials are also underway demonstrating the value of PHC949 in soybeans and other crops in the US and Brazil.

- The Company expects global sales of PHC949 to reach into the tens of millions of dollars over the long-term and to become a significant value driver for the Company.

Overview

PREtec peptides (Vaccines for Plants) represent a novel class of technology which stimulates the plant to defend itself. Derived from natural proteins, PREtec is an environmentally friendly approach to protecting crops and increasing yields. PREtec peptides support conventional farming to become more sustainable. The Company has invested more than $25 million in inventing and developing the PREtec platform over the last eight years and now plans to achieve at least one major launch of a PREtec product into a major market, every year.

Nematode pests are found in farmland worldwide and cause extensive damage to crops, reducing yields by approximately $100 billion annually. In California alone, nematode damage results in approximately $1.6 billion in annual yield losses for almond growers.

PHC949 enables plants to resist nematode infestation and leads to increased plant vigor and yield in a variety of crops. Unlike traditional chemical soil fumigants used to control nematodes, PHC949 leaves beneficial soil organisms unharmed.

The Company has now made a regulatory submission to the Environmental Protection Agency (EPA) for the use of PHC949 to control nematodes on a wide range of crops. The EPA's evaluation process is expected to take approximately 18 months.

The Company is working actively with Wilbur-Ellis to ready the product for launch, soon after the EPA issues commercial regulatory permits.

Plans are also underway to submit PHC949 in late 2022 for registration in Brazil, setting the stage for commercialization of PHC949 for use on soybeans in Brazil in 2024.

Chris Richards, CEO of Plant Health Care said; "We are pleased to have achieved this critical milestone in bringing PHC949 to market and are looking forward to commercial launch in the US after regulatory approval in 2023.

"Given the large number of chemical nematicides that have been withdrawn from the market by regulators because of environmental concerns, farmers are clamoring for sustainable solutions to protect their crops. I am confident therefore that PHC949 will be a valuable tool for growers, offering a cost-effective and environmentally friendly way to protect their crops from destructive nematodes.

"The regulatory submission of PHC949 follows the introduction of Saori® in Brazil during 2021 and the planned launch of PHC279 in the USA following regulatory approval later this year. With the submission of PHC949 in the USA, we are on target to achieve at least one major launch of a PREtec product, every year. We are excited about the potential for products based on our 'Vaccines for Plants' PREtec peptides, which are targeting markets valued in total at $5 billion."

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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 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.