PHC Plant Health Care Plc

22 February 2024                                  

Plant Health Care plc

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

Mexico approves SAORI^® to Control Diseases in Vegetables, Berries and Grapes

Plant Health Care^® (AIM.PHC.L), a leading provider of peptides used by growers to improve crop production and quality within global agriculture markets, is pleased to announce registration of the fungicide, SAORI^®, in Mexico for commercial launch. 

Highlights

-     SAORI is a novel peptide fungicide which provides farmers with a novel mode of action to control damaging plant diseases, including Late Blight, Downy Mildew, and Gray Mold as part of an integrated disease control program;

-     The Company will be launching SAORI at the end of Q3 of 2024 through its most important distributors for use by farmers growing berries, grapes, cucumbers, tomatoes and other solanaceous and cucurbitaceous crops in Mexico.

SAORI is a broad-spectrum biological fungicide with a novel mode of action that provides control of fungal and bacterial plant pathogens across a wide range of agricultural crops.  When used as part of an integrated disease control program, SAORI provides growers with a low use rate, environmentally friendly option to displace established synthetic chemical fungicides and provide improved overall disease control, crop yield and harvest quality.  SAORI is safe for growers and farm workers and is exempt from Maximum Residue Limit (MRL) restrictions which gives greater access to high value export markets.  Control of Gray Mold (Botrytis cinerea) in berries and grapes, Downy Mildew (Pseudoperonospora cubensis) in cucurbits such as cucumbers, and Late Blight (Phytothphora infestans) in tomatoes and other Solanaceae crops are claims listed on the initial SAORI product label with additional claims on other crops and phytopathogens to follow in the future. The current planted area in Mexico for berries totals 55,000 hectares, tomato 48,000 hectares, peppers 150,000 hectares and potato 60,000 hectares. Mexico is the world's largest exporter of cucumbers and production of cucumbers in Mexico is expected to reach 1.02 million metric tons by 2026.  In 2022, the plant-applied biopesticides market in Mexico, which includes both biofungicides and bioinsecticides, was estimated at $200 million, growing at a CAGR of %14.3.

The Company submitted the SAORI application for regulatory review to the Federal Committee for Protection from Sanitary Risks (COFEPRIS) in September 2023.  The regulatory process in Mexico for agricultural products involves a detailed and comprehensive review of standard safety and performance data including replicated small plot field trials to confirm product efficacy. 

SAORI is a novel product based on the Company's innovative PREtec technology platform. Derived from natural proteins, PREtec is an environmentally friendly technology which stimulates plant defense and pathogen resistance mechanisms within plants. Years of research, field testing, and commercial experience have confirmed that PREtec products deliver improved crop growth, harvest quality, and grower profitability. 

Compared with alternative biological products, SAORI brings highly consistent product efficacy across a broad spectrum of application and environmental conditions and is compatible with fungicides, herbicides, and insecticides in tank-mix and sequential application systems.  SAORI has a two-year shelf-life with no special requirements for storing or handling, which allows greater flexibility within the distribution channel and ease of on-farm application.   

Jeff Tweedy, CEO of Plant Health Care, said: ‟I am pleased with the rapid approval of SAORI by COFEPRIS. The smooth approval process was completed well ahead of forecast and validates all the hard work undertaken by the Company to submit a comprehensive data package demonstrating the safety and efficacy of SAORI.

‟As the 11th largest global food producer, Mexico provides a tremendous opportunity for the adoption of SAORI to support sustainable agriculture. Building on the current success of our ProAct^® biostimulant, our dedicated team in Mexico is already laying the groundwork to get SAORI into the hands of farmers later this year to help Mexican farmers sustainably produce their vegetable and berry crops. The approval of SAORI supports the Company's vision to be a leading global provider of alternatives to conventional synthetic agrochemicals. We are excited about the developing plans to launch SAORI in 2024, with strong growth thereafter."

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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, sugarcane, potatoes, rice, and wheat, 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