27th May 2016 07:22
LONDON (Alliance News) - Biopharmaceutical company PuriCore PLC on Friday said it will stop selling its ProduceFresh brand until it is registered as a pesticide with the US Environmental Protection Agency.
The EPA conducted an investigation into PuriCore's concentrate products last year, following which PuriCore has agreed to stop selling ProduceFresh under a Stop Sale, Use, Removal Order on Consent, until it is registered as a pesticide with the EPA.
PuriCore will make a payment of USD550,000 in connection with the matter. It said there will be no changes to its FloraFresh brand following the investigation.
PuriCore added that it is introducing a new brand, Produce Maxx, which enhances the freshness and quality of fresh whole and cut fruits and vegetables.
"We have worked cooperatively with the EPA, and are very pleased to have resolved this matter. We remain committed to developing pharmaceuticals from our platform technology and will provide a further update on the business in due course," Chief Executive Alex Martin said in a statement.
Shares in PuriCore were untraded on Friday morning, last quoted at 23.08 pence.
By Karolina Kaminska; [email protected] @KarolinaAllNews
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