Plant Health Care PLC New Product Regulatory Approval In Brazil (7053J)
18 August 2023 - 4:00PM
UK Regulatory
TIDMPHC
RNS Number : 7053J
Plant Health Care PLC
18 August 2023
18 August, 2023
PLANT HEALTH CARE plc
("Plant Health Care" or the "Company")
Brazil approves PHC279 to Control Diseases of Sugar Cane and
Coffee
Plant Health Care(R) (AIM: PHC.L), a leading provider of novel
patent-protected biological products to global agriculture markets,
is pleased to announce that its biochemical fungicide, PHC279, for
the control of sugar cane and coffee disease has received federal
approval in Brazil.
Brazil is the world's largest producer of sugar cane and coffee.
In the 2023/24 season, the area planted with sugar cane in Brazil
is forecast to be 9.8 million hectares and more than 2.5 million
hectares for coffee. In the 2021/22 season, Brazilian farmers spent
more than US$46m on the control of sugar cane diseases and more
than US$127m on the control of coffee diseases. PHC279 was
submitted for regulatory approval in December 2022 as a
foliar-applied product 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(R) ,
which is successfully being used in Brazil as a seed treatment for
the control of soybean diseases.
PHC279 originates 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, enhances the ability to withstand a variety of abiotic
stresses, improves disease control, plant health and yield. The
environmentally friendly profile and unique mode of action of
PHC279 is expected to lead to its wide adoption by Brazilian sugar
cane and coffee growers. The Company is currently in discussions
with potential distribution partners in anticipation of product
launch during 2024.
The regulatory process in Brazil for agricultural products
involves detailed review and approval by three government agencies.
The Ministry of Agriculture establishes a product's agronomic
recommendations; the National Health Surveillance Agency checks for
safety, while the Brazilian Institute of Environment and Renewable
Natural Resources classifies the environmental hazard profile of
the product, to ensure its use does not pose a threat to the
environment. PHC279 passed through this process with approval from
all three agencies in less than a year, confirming the Brazilian
government's commitment to promoting effective and environmentally
friendly products.
Plant Health Care continues to scale in 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 organic business
growth through current and future distributor relationships.
Jeff Tweedy, CEO of Plant Health Care, said: "Building on the
success of Saori use in soybeans and the continued growth of
H2Copla use in sugar cane, this new registration will bring the
benefits of PHC279 to sugar cane and coffee growers and expand
Plant Health Care's current business in Brazil. This product will
help Brazilian farmers sustainably produce crops and supports the
Company's vision to be a leading global provider of peptides for
agricultural production."
For further information, please contact:
Plant Health Care plc
Jeff Tweedy, CEO +1 919 926 1600
Cenkos Securities plc - Nomad
& Broker
Neil McDonald / Pete Lynch +44 (0) 131 220 9771
SEC Newgate (Financial Communications) +44 (0)7540 106 366
Robin Tozer / Harry Handyside phc@secnewgate.co.uk
/ George Esmond
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
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