Plant Health Care PLC Pilot production of PREtec peptides

Fecha : 09/09/2019 @ 01:01
Fuente : RNS Non-Regulatory
Emisora : Plant Health Care Plc (PHC)
Cotización : 8.7  0.05 (0.58%) @ 10:35
Plant Health Care Cotización de acciones Gráfica

Plant Health Care PLC Pilot production of PREtec peptides

TIDMPHC

Plant Health Care PLC

09 September 2019

9 September 2019

PLANT HEALTH CARE plc

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

Pilot production of PREtec peptides

Plant Health Care(R) , a leading provider of novel patent-protected biological products to global agriculture markets, is pleased to provide the following update in relation to the commercialisation of PREtec peptides, in preparation for commercial launches.

Highlights:

- An agreement has been signed with CSL Behring Fermentation Facility at Pennsylvania State University, to scale up for commercial production of PREtec peptides

- Following the recent exciting field trials results with PHC279 in Brazil soybeans, industry response has been very positive

- The Company intends to commercialise PREtec peptides in markets worth more than $5 billion, starting with PHC279

- The first launches are likely to be into corn and soybeans in the USA and in soybeans in Brazil for the control of Asian Soybean Rust

Plant Health Care is developing novel peptide products from the PREtec (Plant Response Elicitor) platform. These products stimulate the plant to defend itself from stress, such as disease and drought, leading to better quality and higher yield at harvest. Derived from natural proteins, PREtec peptides are a novel, environmentally friendly approach to protecting crops and increasing yields, compatible with mainstream agricultural practices.

The Company intends to commercialise PREtec peptides in markets worth more than $5 billion, starting with PHC279, an Innatus 3G peptide. The first launches are likely to be into corn and soybeans in the USA and in soybeans in Brazil for the control of Asian Soybean Rust. Field trials have shown compelling results in improved disease control and better yields from seed treatment with PHC279.

The Company has developed low cost production methods for PREtec peptides at laboratory scale in our own facilities in Seattle, based on fermentation. The next stage in moving to commercial production is to establish a pilot plant, which will scale up those methods in larger vessels. The pilot plant will refine the Company's production methods, which will then be used in the manufacture of peptides for commercial sales.

The Company is pleased to announce that an agreement has been reached with the CSL Behring Fermentation Facility at Penn State University. The University is providing excellent facilities for optimising production methods, focusing initially on PHC279, including production of initial commercial quantities. We anticipate this project will take less than 12 months, after which the Company expects to contract full scale manufacture with a commercial manufacturer.

Dr Christopher Richards, Executive Chairman and Interim CEO of Plant Health Care, said: "We are delighted to have concluded this agreement with an outstanding institution. The pilot plant further builds our first-class capability to commercialise PHC279 directly to distribution in the USA and Brazil. Industry response in Brazil to our recent excellent field trials results has been most encouraging as we move towards the first product launches."

Dr Nigel Deighton, Director of Research Instrumentation at the Huck Institutes of the Life Sciences, which operates the CSL Behring Fermentation Facility said "It is wonderful that our outreach to industrial partners continues to grow; our Institute and donors alike are delighted to make this exciting connection."

For further information, please contact:

Plant Health Care plc

   Chris Richards, Executive Chairman and Interim CEO                     Tel: +44 7795 294 300 

Jeff Tweedy, COO Tel: +1 919 926 1600

Arden Partners plc - Broker and Nomad

   John Llewellyn-Lloyd / Dan Gee-Summons (Corporate Finance)     Tel: +44 (0) 20 7614 5900 

Fraser Marshall (Equity Sales)

Company website: www.planthealthcare.com

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

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September 09, 2019 02:01 ET (06:01 GMT)

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