Monsanto Order

RNS Number : 0695Q

Plant Health Care PLC

02 April 2009

 



2 April 2009

Plant Health Care plc ('Plant Health Care' or 'the Company')

PLANT HEALTH CARE RECEIVES HARPIN ORDER FROM MONSANTO

Plant Health Care plc (AIM: PHC) announces that its wholly-owned subsidiary, Plant Health Care Inc, has received a significantly larger than expected order from Monsanto for delivery of its harpin seed treatment product under its long-term agreement.

The Board is delighted by the further strong validation of the harpin technology and its commercial potential confirmed by Monsanto's order. In the light of this development, as well as other technology commercialisation opportunities, the Board is reviewing all financing alternatives to meet the Company's investment and working capital needs, so as to ensure future sales growth potential is realised. 

In December 2008, Plant Health Care announced that it had entered into an agreement with Monsanto for the commercialisation of its harpin-based technology as a seed treatment in Monsanto's major row crops and vegetables. The harpin technology offers farmers in-season benefits, including the suppression of pests like nematodes and yield-inhibiting diseases, as well as additive plant health benefits. The technology is a specific protein that activates a plant's innate ability to protect itself and enhance growth. 

Under the long-term agreement, Plant Health Care has licensed to Monsanto the exclusive rights to commercialise harpin seed treatment technology in corn, soybeans, cotton, canola and selected vegetables. In return, Plant Health Care will receive ongoing fees based on the total volume of harpin seed treatment. 

John Brady, CEO of Plant Health Care commented, 'This order underlines Monsanto's commitment to the rapid commercialisation of harpin. Plant Health Care's strategy of commercialising its patented technologies with the world's largest seed and agrichemical companies is now delivering for our shareholders and, for the first time in our history, our natural technologies will be applied by growers to millions of acres.'

For further information, please contact:

Plant Health Care plc
John Brady, Chief Executive Officer
Tel: [phone]
[e-mail]

Evolution Securities	Tavistock Communications
Tim Worlledge / Tim Redfern	Jeremy Carey/Matt Ridsdale
Tel: [phone]	Tel: [phone]
[e-mail] [e-mail]	[e-mail] [e-mail]

About Plant Health Care plc: Plant Health Care plc ('PHC') is a leading provider of natural products for plants and soil. Established in 1995 in Pittsburgh (Pennsylvania) in the United States, PHC currently has approximately 90 employees and has operations in the United States, Mexico, the United Kingdom, Spain, and the Netherlands. The Company listed on the AIM market of the London Stock Exchange in July 2004. Ticker symbol is PHC.

PHC's products are aimed at the agriculture and landscape industries and are environmentally beneficial. Through the commercialisation of these products, PHC is capitalising on current long-term trends toward natural systems and biological products for plant care and soil and water management. Further information is available at: www.planthealthcare.com.

 

END

 

 

MSCUUSNRKSRSRAR