Plant Health Care talks up technology progress

Patent-protected novel biological products provider Plant Health Care updated the market on its New Technology business on Tuesday.

The AIM-traded firm said evaluation of its Innatus 3G product continued to expand.

It said the four major industry partners had increased the scale of their 2017 trials, and three other companies had signed evaluation agreements and were conducting field trials.

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

Strong progress also continued within Plant Health Care on its capability to make, formulate and register PREtec peptides, the board explained.

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

“Momentum continues to build,” said executive chairman and interim CEO Chris Richards.

“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.”

Richards said it was a “great vote of confidence” in the company’s 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, Richards said partners would spend much more than the company on evaluating its 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.”