Plant Health Care PLC Brazil approves PHC279 to Control Soybean Rust (6638K)
05 Enero 2021 - 09:37AM
UK Regulatory
TIDMPHC
RNS Number : 6638K
Plant Health Care PLC
05 January 2021
RNS
5 January 2021
PLANT HEALTH CARE plc
("Plant Health Care" or the "Company")
Brazil approves PHC279 to Control Asian Soybean Rust: First
Product from PREtec Platform Approved for Sale in Brazil
Plant Health Care(R) (AIM: PHC.L) , a leading provider of novel
patent-protected biological products to global agriculture markets,
is pleased to announce its new seed treatment, PHC279, for the
prevention and treatment of Asian soybean rust (ASR) has received
federal approval for sale in Brazil.
Highlights
-- PHC279 is the first product from Plant Health Care's PREtec
technology platform ("Vaccines for Plants") approved for sale in
Brazil, following $20m invested globally over the last eight
years.
-- PHC279 has the potential to deliver disease control and yield
increase worth approximately US$75/ha for Brazilian soybean
growers, giving them an ROI of 6x or more, while reducing the use
of potentially less safe agrochemicals.
-- PHC279's environmentally friendly profile and unique mode of
action is expected to lead to wide adoption by Brazilian soybean
growers.
-- The Company aims to launch PHC279 during the second half of
2021 and expects to build significant market penetration over the
following 2-3 years; gross margins are expected to be comparable to
those of current Harpin products.
-- PREtec peptides represent a novel class of technology which
stimulate the plant to defend itself. Derived from natural
proteins, PREtec is an environmentally friendly approach to
protecting crops and is compatible with mainstream agricultural
practices.
-- Brazil is the world's leading soybean producer with 38.6
million hectares (95.3 million acres) planted in the current
season. ASR, caused by the fungus Phakopsora pachyrhizi, is a
devastating disease with an estimated crop yield loss of up to 90%.
Brazilian soybean farmers spent US$2 billion on fungicides during
the 2016/2017 harvest for ASR control. Intensive use of traditional
chemical fungicides has resulted in the reduction of efficacy of
those products over time, highlighting the need for new,
environmentally friendly products such as PHC279.
The regulatory process in Brazil for agricultural products
involves detailed review and approval by three government agencies.
The Ministry of Agriculture (MAPA) confirms that a product is
effective; the National Health Surveillance Agency (ANVISA) checks
for safety to humans in use and in food, while the Brazilian
Institute of Environment and Renewable Natural Resources (IBAMA)
confirms that products do not pose a threat to the environment.
While the time required for registration of conventional pesticides
can be six years or more, PHC279 passed through this process with
approval from all three agencies in one year. This confirms the
Brazilian government's commitment to promoting effective and
environmentally friendly products.
Chris Richards, CEO of Plant Health Care said, "PHC279 is the
first of many products we plan to introduce in Brazil from the
Company's PREtec platform. Achieving regulatory approval in Brazil
in under 12 months is a strong endorsement of the sustainability
credentials of PHC279. We anticipate launching PHC279 for use in
the 2021/22 soybean season and the Company is advancing plans to
secure distribution partners. Outside 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 / Ben Cryer Tel: +44 (0) 20 7614 5900
Company website: www.planthealthcare.com
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of Article 7 of EU Regulation 596/2014.
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January 05, 2021 10:37 ET (15:37 GMT)
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