New Product Regulatory Approval In Brazil

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® (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^®, 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	[phone]
Cenkos Securities plc - Nomad & Broker  Neil McDonald / Pete Lynch	[phone]
SEC Newgate (Financial Communications)  Robin Tozer / Harry Handyside / George Esmond	[phone] [e-mail]

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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