Plant Health Care PLC Long-term Harpin Production and Supply Agreement (3781P)
June 20 2022 - 2:00AM
UK Regulatory
TIDMPHC
RNS Number : 3781P
Plant Health Care PLC
20 June 2022
RNS
20 June, 2022
Plant Health Care plc
("Plant Health Care" or the "Company")
New, Long-term Commercial-scale Manufacturing of Harpin-based
Products
Plant Health Care (R) (AIM: PHC.L), a leading provider of novel
patent-protected biological products to global agriculture markets,
is pleased to provide the following update concerning the volume
manufacture of its Harpin <ALPHA><BETA> based
products.
Highlights
- Signed a long-term production and supply agreement with a
leading Europe-based fermentation company, securing low-cost
production capacity of Harpin <ALPHA><BETA> , the
active ingredient in its ProAct (R) , Employ (R) , and H2Copla (R)
products , to meet projected global demand.
- Volume production cost targets have been met, ensuring an
improved gross margin for the Company and an attractive Return on
Investment (ROI) for customers.
- Continuing manufacturing of PREtec peptides within the same
facility in support of new product regulatory filings and
commercialization of PREtec-based products.
Background
Harpin <ALPHA><BETA> works by triggering the plant's
own self defense systems, in a manner similar to vaccinations in
humans, with crops responding with improved quality, nutrient use
efficiency, tolerance to abiotic stress and ultimately, increased
yield. Being a biological product, Harpin <ALPHA><BETA>
has a very favorable human and environmental safety profile.
PREtec is a novel class of technology which stimulates the plant
to defend itself. Derived from natural proteins, PREtec is an
environmentally friendly approach to protecting crops from diseases
and soil pests and is compatible with mainstream agricultural
practices.
Jeff Tweedy, COO of Plant Health Care said, "I am pleased to
move our product manufacturing to a high-quality facility in Europe
that has both the experience and capacity to meet our current
product volume requirements as well as projected future increased
demand for our Harpin <ALPHA><BETA> products and the
PREtec product portfolio, including Saori (R) . By eliminating the
need to pay certain import tariffs and other costs, gross margin is
expected to improve for our Harpin <ALPHA><BETA>
business beginning in 2023."
For further information, please contact:
Plant Health Care plc
Chris Richards, CEO +1 919 926 1600
Cenkos Securities plc - Nomad
& Broker
+44 (0) 20 7391
Neil McDonald / Pete Lynch 8900
Vox Markets
Paul Cornelius / Kat Perez +44 (0) 7866 384707
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 Vox
Markets and the company website: www.planthealthcare.com
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under the UK version of the Market Abuse Regulation No 596/2014
which is part of English Law by virtue of the European (Withdrawal)
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END
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