Plant Health Care PLC PHC279 Submitted for Regulatory Approval in Brazil
11 Marzo 2020 - 01:00AM
RNS Non-Regulatory
TIDMPHC
Plant Health Care PLC
10 March 2020
RNS Reach
10 March 2020
PLANT HEALTH CARE plc
("Plant Health Care" or the "Company")
PHC279 Submitted for Regulatory Approval in Brazil
Plant Health Care(R) , a leading provider of novel
patent-protected biological products to global agriculture markets,
is pleased to announce it has successfully submitted its
application to the regulatory agencies in Brazil for approval to
commercialize the Company's first peptide product, PHC279, for the
control of Asian soybean rust.
Highlights:
- Plant Health Care's application for approval to sell novel
peptide product PHC279, to treat Asian soybean rust has been
submitted to the authorities in Brazil.
- Review of the application is expected to commence shortly and
the Federal regulatory licence is expected in 1-2 years.
As announced on 15 August 2019, the 2018/19 Field trials of
PHC279 as a seed treatment in Brazil soybeans, showed up to 45%
improved control of Asian soybean rust (ASR) and up to 16% yield
increase when compared with foliar fungicide programs alone. Based
on these results, the Company intends to move forward to
commercialise PHC279 in Brazil, with regulatory approval expected
by the end of this year at the earliest.
Brazil is the world's largest exporter of soybeans, with some 36
million hectares (89 million acres) planted in 2019. One of the
challenges of producing soybeans in Brazil is ASR, which is a
potentially devastating disease. Growers spent $2.1 billion in 2017
on soybean fungicides in Brazil.
Plant Health Care's PREtec peptides stimulate the plant to
defend itself. Derived from natural proteins, this is a novel,
environmentally friendly approach to protecting crops and
increasing yields, compatible with mainstream agricultural
practice. PHC279 may allow farmers to reduce applications of toxic
fungicides or to achieve better control of disease.
Plant Health Care's submission for registration of PHC279 for
the control of ASR has been accepted by the three responsible
Brazilian agencies: the Ministry of Agriculture, Livestock and Food
Supply (MAPA), the National Health Surveillance Agency (ANVISA),
and the Brazilian Institute of the Environment and Renewable
Natural Resources (IBAMA). The Brazilian authorities do not commit
to a specific timeline for granting regulatory licences. However,
the Company expects the review to start soon and given PHC279's
environmentally friendly profile and unique mode of action compared
with conventional agrochemical products anticipates a regulatory
licence will be granted in 1-2 years.
The Company expects to be in a position to launch the product
soon after regulatory licences have been obtained. Low cost
production methods are progressing to scale-up and will be in place
before launch.
Chris Richards, CEO of Plant Health Care said, "PHC279 is the
first of many peptides from the Company's PREtec platform.
Submitting our application for regulatory approval in Brazil is the
first step towards regulatory approval in Brazil and an important
milestone towards commercialising this product. Outside of Brazil,
we are preparing to launch this novel technology directly to
markets in the U.S. and other countries, initially targeting
markets with an opportunity of $5 billion."
For further information, please contact:
Plant Health Care plc
Chris Richards, CEO Tel: +1 919 926 1600
Arden Partners plc - Nomad & Broker
John Llewellyn-Lloyd / Dan Gee-Summons Tel: +44 (0) 20 7614
5900
Company website: www.planthealthcare.com
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END
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March 11, 2020 03:00 ET (07:00 GMT)
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