Commercial scale field trial of sea lice treatment

RNS Number : 0253Z

Benchmark Holdings PLC

12 December 2017

 

RNS

Benchmark Holdings plc
("Benchmark" or the "Company")

Benchmark announces the success of its next generation sea lice treatment Ectosan® during its first commercial scale field trials

                Breakthrough development in addressing one of the salmon industry's biggest disease challenges

Benchmark (AIM: BMK), the aquaculture health, nutrition, and genetics business, is pleased to  announce the results of its highly successful first commercial scale field trial of its next generation sea lice treatment in Norway.

Highlights

·     Treatment showed 100% efficacy against sea lice in the trial

·     Breakthrough development for Benchmark and for the salmon industry

·     Field trials to continue as part of regulatory process

·     Estimated £40-50m peak sales potential for Ectosan®

·     CleanTreat® system's proven ability to deliver the treatment without ocean water contamination, underpins its potential for commercial deployment across wider applications

Sea lice treatment

In this first field trial, Benchmark's total treatment solution showed 100% efficacy and no environmental impact due to our proprietary purification system, CleanTreat®, which removes any detectable traces of medicine from treatment water before it is discharged into the ocean.  

Together, Ectosan® and CleanTreat® are a ground breaking development for the salmon industry, as sea lice is one of the industry's biggest disease challenges.  In 2016 sea lice infestation resulted in a 5% contraction in the production of salmon in Norway, equivalent to 70,000 tons or an estimated $500m at current market prices (Source: Rabobank). There is a recognised lack of effective, environmentally and welfare friendly solutions in the market, and Ectosan® and CleanTreat® have the potential to address this need. The Company believes that Ectosan® can achieve worldwide peak sales of  £40-50m. Benchmark will continue field trials in key markets through 2018 and 2019.

CleanTreat®

CleanTreat® is Benchmark's proprietary purification system, engineered to remove all medicinal components from the treatment water.  Following purification by the CleanTreat® system, the water is tested to ensure no medicinal particles are detectable before the water is discharged back into the ocean.  

The system is the first of its kind to be used in aquaculture and has applications beyond the Company's sea lice treatment.  Chemical based bath treatments that are released into the water are one of the biggest objections to the aquaculture industry and CleanTreat® works to solve this environmental challenge.  The Company is exploring other applications and routes to market for this technology. 

Malcolm Pye, CEO of Benchmark commented:

"This is major breakthrough for Benchmark and the salmon industry. The combination of our next generation sea lice treatment, together with CleanTreat® represents a transformational change in the battle against one of the industry's greatest challenges, and a big step towards a future where no medicinal residues are discharged directly into the oceans. Given its significance to the industry and interest expressed by our customers, we expect to see substantial demand for the treatment and look forward to providing the treatment more widely upon regulatory approval."

ENDS

Benchmark Holdings plc	Tel: [phone]
Malcolm Pye, CEO
Ivonne Cantu, Investor Relations Director
Rachel Aninakwah, Communications
Numis	Tel: [phone]
Michael Meade / Freddie Barnfield (NOMAD)
James Black (Corporate Broking)
MHP
Katie Hunt / Reg Hoare /Alistair de Kare-Silver	Tel: [phone]                                  07551 170 451 [e-mail]

Notes to Editors:

Benchmark challenges the status quo in aquaculture. Since 2000, Benchmark has consistently worked to build a technology-rich platform in the areas of genetics, nutrition, animal health and knowledge services, to serve its customers, helping them take control of their biological environment to improve yield and efficiency in a sustainable way.

The Company has leading positions in its core markets and established R&D, manufacturing and distribution capabilities to serve all the major aquaculture markets. Benchmark operates in 27 countries in five continents and as at 30 September 2017, it employed 950  people. 

For further information on Benchmark please visit www.benchmarkplc.com

 

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