9th Nov 2020 11:21
(Alliance News) - Plant Health Care PLC on Monday announced a long-term collaboration with Wilbur-Ellis Agribusiness for the development of products from Plant Health Care's plant response elicitor, or PREtec, peptide portfolio.
Wilbur-Ellis is a Colorado-based marketer and distributor of agricultural products, animal nutrients, and specialty chemicals and ingredients.
The North Carolina-based provider of biological products for agriculture said the collaboration will see the two companies "accelerate" the development and marketing of Plant Health Care's PREtec products in the US.
The PREtec products aim to increase crop growth, disease resistance and other benefits for farmers.
Multiple PREtec products are being evaluated by the two companies.
The first product launches will occur soon after regulatory approvals have been obtained, Plant Health Care said.
Chief Executive Chris Richards said: "We are delighted to be working with Wilbur-Ellis to bring the benefits of PREtec peptides to growers of specialty crops."
"This agreement represents an important validation of the commercial value of PREtec as we move to the first product launches. After more than six years and over USD20 million invested, the benefits of PREtec peptide products will soon be widely available to growers in the U.S. and elsewhere," Richards added.
Plant Health Care shares were up 10% at 9.38 pence each in London on Monday morning.
By Greg Roxburgh; [email protected]
Copyright 2020 Alliance News Limited. All Rights Reserved.
Related Shares:
PHC.L