Plant Health Care PLC (AIM:PHC, OTCQB:PLHCF) has submitted a new application to the US Environmental Protection Agency (EPA) for registration of its novel peptide product, PHC949, for the control of damaging soil nematodes.
The EPA's evaluation process is expected to take approximately 18 months, Plant HealthCare added.
Wilbur-Ellis, a US$3.4bn distributor of crop inputs, plans to launch the product in the second half of 2023, soon after registration by the EPA, PHC added.
PHC949 is the second new product from Plant Health Care's PREtec (Vaccines for Plants ) technology platform with one major new launch planned for every year.
"Field trials in the USA show outstanding control of nematodes; for example in peppers PHC949 increased marketable yield by about 3,265 lbs/acre, worth an extra $2,070/acre," said PHC.
Nematode pests, more commonly known as roundworms, are found in farmland worldwide and in California alone are responsible for US$1.6bn in annual yield losses for almond growers.
Field trials are also underway demonstrating the value of PHC949 in soybeans and other crops in the US and Brazil.
Chris Richards, Plant Health Care’s chief executive, said: "We are pleased to have achieved this critical milestone in bringing PHC949 to market and are looking forward to commercial launch in the US after regulatory approval in 2023.
"Given the large number of chemical nematicides that have been withdrawn from the market by regulators because of environmental concerns, farmers are clamouring for sustainable solutions to protect their crops.”