Wilbur Ellis Agreement

Plant Health Care PLC

14 June 2023

 

14 June 2023

Plant Health Care plc

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

Plant Health Care^® ("PHC") and Wilbur-Ellis^® Agribusiness Announce Distribution Agreement to Support First OBRONA^TM Commercial Sales in the U.S.

Plant Health Care^® (AIM.PHC.L), a leading provider of peptides for plant protection to global agriculture markets, is pleased to announce it has concluded a distribution agreement ("The Agreement") with Wilbur-Ellis^® Agribusiness, one of the largest U.S. retailers of agricultural products. The Agreement will support commercial sales of OBRONA^TM, a foliar fungicide recently approved by US EPA which is expected to be available within key US markets during the summer of 2023. Obrona is a unique product developed to help growers control a wide range of fungal and bacterial plant pathogens within fruits, nuts, vegetables, and row crops.

Plant Health Care and Wilbur-Ellis have been working together in an exclusive partnership since 2020 to evaluate and develop PHC279, the active ingredient in OBRONA, for high value specialty and row crop markets. Multiple years of field trials have validated product efficacy to support initial launch focused on corn diseases, such as tar spot (Phyllachora maydis), Gray leaf spot (Cercospora zeae-maydis), and common rust (Puccinia sorghi), as well as powdery and downy mildew and various other diseases in grapes, as well as white mold (Sclerotinia sclerotiorum) and other diseases affecting leafy vegetables within key Western US states.

Derived from naturally occurring proteins, PHC279 is the first product from the Company's PREtec technology platform (Vaccines for Plants™) that will be available to US farmers. PREtec stimulates crop growth and enhances crop resistance to fungal and bacterial diseases and improves crop quality and yield. The Company's initial PREtec product, Saori^® is successfully being used in Brazil as a seed treatment to control an array of soybean diseases including Asian Soybean Rust (Phakopsora spp.).

PREtec provides growers with a novel and environmentally friendly approach to growing crops and is compatible with mainstream agricultural practices. As part of an integrated pest management program, OBRONA will reduce reliance on older synthetic pesticides and will provide growers with a valuable tool to proactively manage disease resistance. The availability of OBRONA will support farmers seeking to use more sustainable and environmentally friendly practices while continuing to provide safe, abundant, and high-quality food.

Plant Health Care continues to expand into new markets around the world through strategic partnerships 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 continued growth through current and future distributor relationships, and to achieve cash breakeven and profit along that track.

Jeff Tweedy, CEO of Plant Health Care, said: ‟Having worked with Wilbur-Ellis on the development of OBRONA for more than three years, I am gratified that this new agreement will bring OBRONA to the market to enable control of many of the most recalcitrant fungal and bacterial pathogens challenging growers today. OBRONA will support sustainable agriculture with better crops delivering higher yield for thousands of U.S. farmers."

Scott Addy, Wilbur-Ellis Agribusiness VP Branded Technologies and Biological Solutions, said: "We are pleased that our partnership with Plant Health Care has resulted in the approval of OBRONA and are looking forward to launching the product this summer to deliver value to the grower in a sustainable way. We expect that there will be many other products that follow, and we will continue to offer our growers biological options to solve their pest issues."

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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

About the Wilbur-Ellis Companies   

Founded in 1921, the Wilbur-Ellis companies are leading marketers, distributors and manufacturers of agricultural products and animal nutrients. By developing strong relationships, making strategic market investments, and capitalizing on new opportunities, the Wilbur-Ellis companies have continued to grow the business with sales of over $3.5 billion. For more information, please visit www.wilburellis.com

For further information, please contact:
 

Plant Health Care plc Jeff Tweedy, CEO	Tel: [phone]
Cenkos Securities plc - Nomad & Broker Neil McDonald / Pete Lynch	Tel: [phone]
SEC Newgate (Financial Communications) Robin Tozer / George Esmond / Harry Handyside	Tel: [phone] Email: [e-mail]

For further information about Wilbur-Ellis, please contact:

Jeanne Forbis, email:[e-mail]

 

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