PHC reaches milestone agreement with Germains

RNS Number : 4548A

Plant Health Care PLC

20 March 2013

 



20 March 2013

PLANT HEALTH CARE PLC

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

Germains Reaches Milestone with Harpin alpha-beta Seed Treatment of Sugar Beets

Plant Health Care plc, a leading provider of novel patent protected biological products to the global agriculture markets, is pleased to announce that Germains Seed Technology, our partner for developing Harpinαβ seed technology for sugar beets, has reached a project milestone and will make the appropriate payment to the Company.

Germains, the largest independent sugar beet seed treatment company in the world, has been evaluating the use of Harpinαβ as a sugar beet seed treatment both in the greenhouse and the field since September 2010. These tests have shown that the advantages brought by Harpinαβ to the performance of sugar beets are sufficient to warrant commencement of large-scale trials in the US during 2013. Registrations to allow these trials are either in place or being prepared for the start of the season. This decision to move to the next stage of testing has triggered a milestone payment to the Company.

John Brady, CEO of Plant Health Care, commented:

"This is a very positive development in our relationship with Germains and gives us further confidence in the potential of our Harpinαβ protein products.  We are extremely gratified with this development, and while the milestone payment is welcome, of greater significance is that sugar beet can now be added to the list of important crops which respond favorably to Harpinαβ seed treatment.  This list now includes a Brassica crop (sugar beet) as well as a legume (soybeans) and a cereal grain (maize), as well as many fruit and vegetable crops, further demonstrating the broad range of crops upon which Harpinαβ is effective."

Paul Mullan, Managing Director/CEO of Germains Seed Technology, said:

"The opportunity to work with Plant Health Care allows us to build industry-leading combinations of the technological and biological tools and techniques to enhance the natural potential of sugar beet seed. Working with PHC allows us to further enhance our XBEET® platform of innovative value added products. Trials have shown excellent performance improvements in key market areas indicating the potential to improve both economics and ease of use for stakeholders in the sugar value chain.  Additional trials are planned this year in order to further validate the benefits for the sugar beet industry and to support registration of the Harpin Proteins in global sugar beet markets."

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About Plant Health Care plc: Plant Health Care plc ("Plant Health Care") is a leading provider of patent protected biological products aimed at the agriculture industry and are environmentally beneficial. Through the commercialisation of these products, Plant Health Care is capitalising on current long-term trends toward natural systems and biological products for plant care and soil and water management.

About Germains Seed Technology:  At a time when pressure on land, water and resources is greater than at any time in human history, Germains maximises the productiveness and cost-effectiveness of crops.  Created almost 150 years ago, Germains has grown to become the largest independent sugar beet seed treatment company in the world and today operates across three continents.  A subsidiary of Associated British Foods, it develops and markets seed priming technologies, and through Advantage® and XBEET® systems, is the leading provider of priming treatments for sugar beet seed.  Through its industry-leading seed technologies and considerable experience and expertise, Germains deliver an innovative combination of the latest technological and biological tools and techniques, to significantly enhance the natural potential of seed.  Germains prides itself on its collaborative partnerships in global markets, offering a local service with emphasis on responsible values chains and business sustainability.  Visit www.germains.com for more information.

Further information is available at: www.planthealthcare.com or please contact:

Plant Health Care plc
John Brady, Chief Executive Officer	Tel: [phone]
[e-mail]
Stephen Weaver, Finance Director	Tel: [phone] x151
[e-mail]
Nomura Code Securities	Tel: [phone]
Clare Terlouw / Chris Golden
Powerscourt	Tel: [phone]
Paul Durman / Nick Dibden / Sophie Moate

 

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