Plant Health Care PLC New Technology Update (2009H)

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RNS Number : 2009H

Plant Health Care PLC

06 June 2017

6 June 2017

Plant Health Care plc

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

New Technology Update

Plant Health Care (AIM: PHC), a leading provider of novel patent-protected biological products to global agriculture markets, is pleased to provide the following update in relation to its New Technology business.

Highlights

- Evaluation of Innatus 3G continues to expand. The four major industry partners have increased the scale of their 2017 trials. Three other companies have signed evaluation agreements and are conducting field trials.

- A total of eight agreements have also now been signed concerning T-Rex 3G and Y-Max-3G.

- Strong progress continues within Plant Health Care on its capability to make, formulate and register PREtec peptides.

- The Company remains on track to deliver a revenue-generating licence by the end of 2017 and the first competitive licensing process in early 2018.

Innatus 3G

Four of the top six agrochemicals companies have been evaluating Innatus 3G since 2015. They are focused on three core agricultural benefits - yield increase, disease and nematode protection and drought resistance - mainly in the largest commercial crops corn (maize) and soybean. Building on their 2016 results, all are running trials of lead peptides from this platform in 2017.

By early 2017, three other companies had signed agreements to evaluate Innatus 3G. Their field trials, in other smaller crops, are underway in Europe and South America.

In recent weeks several partners have approached PHC with plans to expand their 2017 trials further. Of particular interest is the control of Asian Soybean Rust, a fungal disease which is a major threat to the soybean crop in Brazil. This disease has developed resistance to most conventional fungicides. Innatus 3G peptides work very differently, and when sprayed in mixtures with standard fungicides, they have shown significantly improved disease control in PHC's trials. This has the potential to increase the effectiveness and extend the commercial life of those established products.

T-Rex 3G and Y-Max 3G

PHC's new technology platforms, T-Rex 3G and Y-Max 3G, were first presented to the industry in 2016. T-Rex 3G is a class of signal peptides optimised for nematode suppression, while Y-Max 3G peptides are biostimulants which increase yield.

A total of eight companies have so far signed up to evaluate one or both of these new platforms, including the majors who are evaluating Innatus 3G. Trials are in progress in three continents in a range of crops, with two lead peptides from each of T-Rex 3G and Y-Max 3G. The majors are focused mainly on corn and soybean, while others are working on a wider range of crops.

The Company continues to aim to secure the first revenue-generating licence of one of its PREtec technologies in 2017.

PHC's product development capability

Plant Health Care has increased its product development activity. This includes substantially expanding its own 2017 field trials and contract testing programme. But because partners' evaluations of PREtec peptides are on a much larger scale than in 2016, collectively they are spending many times more than the Company is.

Plant Health Care's work on the physical stability of peptides in formulations and their compatibility with agrochemicals continues to show promising results. We expect the most cost-effective means of peptide manufacture to be by fermentation, and laboratory scale production trials are on track. The first lead peptides produced by fermentation are being evaluated and will shortly be entering field trials.

Chris Richards, Executive Chairman & Interim CEO, said "Momentum continues to build. As we approach the expected 2018 date for licensing of first rights to Innatus 3G, partners are stepping up their evaluations. Our lead peptides from each platform are performing well in independent trials, carried out by our partners."

"It is a great vote of confidence in our proprietary technology. Every one of our initial partners is now testing one or both of T-Rex 3G and Y-Max 3G, alongside Innatus 3G. Our new partners are expanding the range of crops to which our products can bring benefits. This year, partners will spend much more than us on evaluating our proprietary technology."

"We are well positioned for the first licensing of our PREtec technology by the end of 2017, with competitive licensing of Innatus 3G to start in early 2018."

 
 Enquiries: 
 Plant Health Care plc 
 Dr Chris Richards, Executive               Tel: +44 (0) 18 
  Chairman and Interim CEO                        3788 0083 
 Liberum Capital - Nomad and 
  Broker 
 Clayton Bush / Chris Clarke                Tel: +44 (0) 20 
                                                  3100 2000 
 Company website: www.planthealthcare.com 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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June 06, 2017 02:00 ET (06:00 GMT)