Plant Health Care PLC New PREtec Products Announced (8895N)
September 28 2023 - 1:00AM
UK Regulatory
TIDMPHC
RNS Number : 8895N
Plant Health Care PLC
28 September 2023
28 September 2023
PLANT HEALTH CARE plc
("Plant Health Care" or the "Company")
New PREtec Products Announced
Brazilian Launch of MOSHY(TM) and TEIKKO(TM) planned
Plant Health Care(R) (AIM: PHC.L), a leading provider of novel
patent-protected biological products to global agriculture markets,
is pleased to announce two new brands - MOSHY and TEIKKO - derived
from the Company's PREtec technology platform (Vaccines for Plants
(TM) ) for launch in Brazil for the 2024 soybean growing
season.
Highlights:
-- MOSHY (PHC25279) is a foliar product registered in Brazil to
control foliar diseases in coffee and sugar cane.
-- TEIKKO (PHC68949) is a seed treatment to control harmful soil
nematodes in soybean fields. This is expected to be registered in
Brazil before the end of 2023.
-- MOSHY and TEIKKO add to the portfolio of Plant Health Care
products available to growers in Brazil.
-- Discussions with potential Brazilian distributors of MOSHY and TEIKKO are ongoing.
-- For the six months ended 30 June 2023, revenue in Brazil was
up 48%, driven by in-market demand for H2Copla(R)
(Harpin<ALPHA><BETA>) and Saori(R) (PREtec).
MOSHY and TEIKKO provide specific benefits for growers of
improved disease and nematode control, plant health and yield.
MOSHY helps control a broad spectrum of plant diseases when used
as part of an integrated disease control program. MOSHY was shown
to reduce the incidence and severity of sugar cane orange rust and
coffee leaf rust leading to significant increases in yield. Brazil
is the world's largest producer of sugar cane and coffee. As part
of Plant Health Care's continued investment in Brazilian
agriculture, additional crop specific, plant pathogen claims will
be added to the MOSHY product label, allowing use on a wider range
of crops.
TEIKKO is a novel product that amplifies a plant's natural
defense pathways to provide protection against plant parasitic
nematodes which damage plant roots and limit crop yield. TEIKKO was
submitted as a seed treatment for the control of root-lesion
nematode (Pratylenchus brachyurus) in soybean. Research carried out
during the 2021/22 and 2022/23 soybean crop seasons showed that
TEIKKO controlled Pratylenchus brachyurus in soybeans, with similar
or superior performance when compared to standard market
treatments. For the 2023/24 season, the soybean harvested area in
Brazil is forecast to be 45.6 million hectares. Additional crops
and nematode species will be added to the TEIKKO product label
further expanding its potential use.
Both products are 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, resulting in
improved crop growth and quality along with the ability to
withstand a variety of abiotic stresses.
As well as launching new products in its existing markets, Plant
Health Care continues to expand into new markets around the world
and is growing its relationships with major global distribution
partners. As a result,
the Company is on track to achieve revenue of $30 million by 2025.
Jeff Tweedy, CEO of Plant Health Care, said: "Plant Health Care
continues to scale our global business with the addition of TEIKKO
and MOSHY to the Brazil product line which includes H2Copla and
Saori. Plant Health Care's biological products have earned the
reputation of contributing to sustainable agriculture while
increasing yields, controlling diseases, and generating a positive
ROI for growers. We expect MOSHY and TEIKKO to be novel biological
products that will deliver control of nematodes and diseases in
critical Brazil crops. These new product launches are key steps for
Plant Health Care in meeting our $30 million revenue target by
2025."
For further information, please contact:
Plant Health Care plc
Jeff Tweedy, CEO +1 919 926 1600
Cavendish Securities plc - Nomad
& Broker
Neil McDonald / Pete Lynch +44 (0) 131 220 9771
SEC Newgate - Financial Communications +44 (0)7540 106 366
Robin Tozer / Harry Handyside phc@secnewgate.co.uk
/ George Esmond
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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END
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