Plant Health Care PLC PHC68949 granted first stage of approval in Brazil (6322Y)
09 Mai 2023 - 8:00AM
UK Regulatory
TIDMPHC
RNS Number : 6322Y
Plant Health Care PLC
09 May 2023
9 May 2023
Plant Health Care plc
("Plant Health Care" or the "Company")
PHC68949 granted first stage of approval in Brazil
Plant Health Care(R) (AIM.PHC.L), a leading provider of peptides
for plant protection to global agriculture markets, is pleased to
announce that its new PREtec product PHC68949 has received the
first stage of regulatory approval for commercial use in
Brazil.
PHC68949 (Vaccine for Plants(TM)) is a novel technology that
amplifies a plant's natural defense against damaging nematodes (a
"bionematicide"), increasing plant health and yield in a variety of
crops. Nematodes are microscopic parasitic worms living in the soil
where they feed on plant roots, killing plants and reducing crop
yields. Globally, nematodes have been estimated to cause up to
12.3% of annual crop loss, worth approximately $157 billion per
year.
The Brazilian Ministry of Agriculture, Livestock and Food Supply
(MAPA) has now accepted the submitted studies demonstrating the
efficacy of PHC68949 and approved the conditions for its use for
soybean cultivation in Brazil. The MAPA approval occurred earlier
than expected and is the first step of regulatory approval in
Brazil. The application will now be evaluated by the Brazilian
Health Regulatory Agency (ANVISA) and The Brazilian Institute of
Environment and Renewable Natural Resources (IBAMA).
The PHC68949 application was submitted for regulatory approval
to MAPA in December 2022 for use as a seed treatment for the
control of root-lesion nematode (Pratylenchus brachyurus) in
soybean. For 2022/23, the soybean harvested area in Brazil is
forecast to be 42.9 million hectares. Results from field studies
show PHC68949 may provide control of harmful nematodes comparable
to the traditional chemical nematicides and superior to current
biological products. The Brazilian authorities do not commit to a
specific timeline for granting regulatory licenses, however, the
Company anticipates regulatory licenses will be granted within the
next 1-2 years.
After its initial launch for use in soybeans, the Company
expects to introduce PHC68949 in other crops in Brazil. According
to a recently published report by Kynetec, the use nematicides in
Brazil has increased 10-fold since 2015, with soybeans accounting
for 52% of the use, followed by sugarcane at 23%, with the
remainder on corn, cotton, coffee, potatoes and 14 other crops.
PHC's target is to launch at least one PREtec product in a major
market every year as part of its overall strategy to achieve
revenue of $30 million by 2025 through both the launch of new
peptides and expanding current and future distributor
relationships.
A video highlighting the advantages of PHC68949 can be viewed at: https://youtu.be/cPRy2EEzjYw
Jeff Tweedy, CEO of Plant Health Care, said: "Today's
announcement marks a significant milestone in fulfilling our
strategic objectives to launch transformative commercial PREtec
products across substantial growth markets such as Brazil.
"As the issue of food security continues to grow, and the
farming world looks for technological solutions to achieve a
sustainable future with better crops delivering higher yields and
reducing environmental effects, our PREtec products will help meet
global sustainability targets."
For further information, please contact:
Plant Health Care plc Tel: +1 919 926
Jeff Tweedy, CEO 1600
Cenkos Securities plc - Nomad & Broker Tel: +44 (0) 131
Neil McDonald / Pete Lynch 220 9771
SEC Newgate (Financial Communications) Tel: +44 (0)7540 106 366
Robin Tozer / George Esmond / Harry Email: phc@secnewgate.co.uk
Handyside
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
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