Myconate IP Agreement with Ba

RNS Number : 7387K

Plant Health Care PLC

26 April 2010

 



26 April, 2010

Plant Health Care plc

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

Plant Health Care Completes Myconate IP Agreement with Bayer CropScience

Plant Health Care (AIM: PHC), a leading provider of naturally derived products to the agriculture and landscape industries, announces the purchase of Bayer CropScience's Myconate Intellectual Property portfolio and the conclusion of the last details concerning the termination of its previous Myconate agreement.

Plant Health Care has acquired from Bayer CropScience patent applications on combinations of Myconate with other active ingredients and on the production of Myconate in order to protect and extend future opportunities. Financial terms of the agreement were not disclosed.

Myconate is a patented, synthetic compound which encourages plant growth by stimulating existing mycorrhizal fungi in the soil and creating a bigger root mass. More than eight years of successful field trials provide product efficacy with increased yields during tests of up to 10%. It is hoped that Myconate will become a standard element of farmer's seeding and planting programmes around the world.

John Brady CEO of Plant Health Care commented: "This agreement allows us to wrap new patents around this exciting technology with a view to securing further commercial opportunities in the near future. The current interest in Myconate is substantial and the addition of this new portfolio will allow us the potential to extend the patent life significantly into the future and enhance the value of this important technology.

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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]

Notes to editors:

About Plant Health Care plc: Plant Health Care plc ("PHC") is a leading provider of naturally derived 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. The Company's ordinary shares have been quoted on the Alternative Investment Market ("AIM") of the London Stock Exchange since July 2004 and listed on the Official List of the Channel Islands Stock Exchange ("CISX") in February 2010 (ticker symbol/ mnemonic: 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.

 

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