midastouch017
1 month ago
Evogene Announces Collaboration with Google Cloud to Pioneer Generative AI Foundation Model for Novel Small Molecule Design
https://finance.yahoo.com/news/evogene-announces-collaboration-google-cloud-120000529.html
The collaboration has the power to foster breakthroughs in small molecule innovation for life science-based products
REHOVOT, Israel, Oct. 31, 2024 /PRNewswire/ -- Evogene Ltd. (NASDAQ: EVGN) (TASE: EVGN), a leading computational biology company aiming to revolutionize life-science-based product discovery and development, today announced a collaboration with Google Cloud to develop a cutting-edge foundation model for generative small molecule de novo design, propelling Evogene's ChemPass AI tech-engine to new levels of innovation. ChemPass AI is a computational technology platform that directs and accelerates the discovery and development of novel products based on small molecules. This groundbreaking initiative seeks to advance the discovery and development of novel small molecules for drug development, sustainable crop protection, and other innovative products across a wide range of life-science industries.
Evogene will leverage Google Cloud's Vertex AI, GPUs on Google Compute Engine, and Google Cloud Storage to provide the immense computational power and storage capacity required to create this innovative AI foundation model. This foundation model is being trained on a dataset of ~40 billion molecular structures and will serve as a powerful tool for generating and evaluating new potential candidates for breakthrough life science-based products, with unprecedented speed and accuracy.
The collaboration leverages Evogene's deep expertise in computational predictive biology and Google Cloud's leadership in AI and machine learning. This joint effort follows the successful integration of ChemPass AI into Google Cloud and will now focus on expanding the tech-engine's value through the creation of a state-of-the-art foundation model capable of generating and optimizing novel small molecule structures with desired properties.
This transformative technology has the potential to greatly expedite the drug discovery process, reduce costs, and increase the success rate of identifying promising drug candidates. In the agricultural sector, the foundation model will enable the development of innovative and sustainable solutions to address global challenges such as food security, crop protection, and resource optimization.
Beyond pharmaceuticals and agriculture, the foundation model's capabilities have the potential to extend to various other industries. The ability to generate and optimize small molecules with specific properties opens a world of possibilities for creating innovative and sustainable solutions across diverse sectors.
Ofer Haviv, Evogene's President and CEO stated: "This strategic collaboration underscores Evogene's commitment to innovation and its position at the forefront of computational predictive biology, utilizing our AI tech-engines. We are proud to be collaborating with Google Cloud, a recognized leader in cloud computing, accelerating our growth trajectory and delivering significant value to our shareholders and partners."
Boaz Maoz, Managing Director, Google Cloud Israel stated: "Google Cloud is committed to providing the industry's most open cloud and helping customers accelerate their digital transformations. By harnessing the power of Google Cloud, Evogene's ChemPass AI has the potential to revolutionize small molecule design. We look forward to the breakthroughs Evogene will achieve."
The collaboration also presents an attractive opportunity for potential pharma and ag-industry partners seeking to leverage the power of ChemPass AI's generative small molecule discovery capabilities. Evogene's proven track record in computational biology, combined with Google Cloud's AI expertise, creates a compelling proposition for companies looking to accelerate their R&D efforts and gain a competitive edge.
About Evogene Ltd.
Evogene Ltd. (Nasdaq: EVGN) (TASE: EVGN) is a computational biology company leveraging big data and artificial intelligence, aiming to revolutionize the development of life-science based products by utilizing cutting-edge technologies to increase the probability of success while reducing development time and cost.
Evogene established three unique tech-engines - MicroBoost AI, ChemPass AI and GeneRator AI. Each tech-engine is focused on the discovery and development of products based on one of the following core components: microbes (MicroBoost AI), small molecules (ChemPass AI), and genetic elements (GeneRator AI).
Evogene uses its tech-engines to develop products through strategic partnerships and collaborations, and its four subsidiaries including:
Biomica Ltd. (www.biomicamed.com) developing and advancing novel microbiome-based therapeutics to treat human disorders powered by MicroBoost AI;
Lavie Bio Ltd. (www.lavie-bio.com) - developing and commercially advancing, microbiome based ag-biologicals powered by MicroBoost AI;
AgPlenus Ltd. (www.agplenus.com) -developing next generation ag chemicals for effective and sustainable crop protection powered by ChemPass AI; and
Casterra Ag Ltd. (www.casterra.co)– developing and marketing superior castor seed varieties producing high yield and high-grade oil content, on an industrial scale for the biofuel and other industries powered by GeneRator AI.
For more information, please visit: www.evogene.com.
midastouch017
1 month ago
Evogene Announces Collaboration with Google Cloud to Pioneer Generative AI Foundation Model for Novel Small Molecule Design
https://finance.yahoo.com/news/evogene-announces-collaboration-google-cloud-120000529.html
The collaboration has the power to foster breakthroughs in small molecule innovation for life science-based products
REHOVOT, Israel, Oct. 31, 2024 /PRNewswire/ -- Evogene Ltd. (NASDAQ: EVGN) (TASE: EVGN), a leading computational biology company aiming to revolutionize life-science-based product discovery and development, today announced a collaboration with Google Cloud to develop a cutting-edge foundation model for generative small molecule de novo design, propelling Evogene's ChemPass AI tech-engine to new levels of innovation. ChemPass AI is a computational technology platform that directs and accelerates the discovery and development of novel products based on small molecules. This groundbreaking initiative seeks to advance the discovery and development of novel small molecules for drug development, sustainable crop protection, and other innovative products across a wide range of life-science industries.
Evogene will leverage Google Cloud's Vertex AI, GPUs on Google Compute Engine, and Google Cloud Storage to provide the immense computational power and storage capacity required to create this innovative AI foundation model. This foundation model is being trained on a dataset of ~40 billion molecular structures and will serve as a powerful tool for generating and evaluating new potential candidates for breakthrough life science-based products, with unprecedented speed and accuracy.
The collaboration leverages Evogene's deep expertise in computational predictive biology and Google Cloud's leadership in AI and machine learning. This joint effort follows the successful integration of ChemPass AI into Google Cloud and will now focus on expanding the tech-engine's value through the creation of a state-of-the-art foundation model capable of generating and optimizing novel small molecule structures with desired properties.
This transformative technology has the potential to greatly expedite the drug discovery process, reduce costs, and increase the success rate of identifying promising drug candidates. In the agricultural sector, the foundation model will enable the development of innovative and sustainable solutions to address global challenges such as food security, crop protection, and resource optimization.
Beyond pharmaceuticals and agriculture, the foundation model's capabilities have the potential to extend to various other industries. The ability to generate and optimize small molecules with specific properties opens a world of possibilities for creating innovative and sustainable solutions across diverse sectors.
Ofer Haviv, Evogene's President and CEO stated: "This strategic collaboration underscores Evogene's commitment to innovation and its position at the forefront of computational predictive biology, utilizing our AI tech-engines. We are proud to be collaborating with Google Cloud, a recognized leader in cloud computing, accelerating our growth trajectory and delivering significant value to our shareholders and partners."
Boaz Maoz, Managing Director, Google Cloud Israel stated: "Google Cloud is committed to providing the industry's most open cloud and helping customers accelerate their digital transformations. By harnessing the power of Google Cloud, Evogene's ChemPass AI has the potential to revolutionize small molecule design. We look forward to the breakthroughs Evogene will achieve."
The collaboration also presents an attractive opportunity for potential pharma and ag-industry partners seeking to leverage the power of ChemPass AI's generative small molecule discovery capabilities. Evogene's proven track record in computational biology, combined with Google Cloud's AI expertise, creates a compelling proposition for companies looking to accelerate their R&D efforts and gain a competitive edge.
About Evogene Ltd.
Evogene Ltd. (Nasdaq: EVGN) (TASE: EVGN) is a computational biology company leveraging big data and artificial intelligence, aiming to revolutionize the development of life-science based products by utilizing cutting-edge technologies to increase the probability of success while reducing development time and cost.
Evogene established three unique tech-engines - MicroBoost AI, ChemPass AI and GeneRator AI. Each tech-engine is focused on the discovery and development of products based on one of the following core components: microbes (MicroBoost AI), small molecules (ChemPass AI), and genetic elements (GeneRator AI).
Evogene uses its tech-engines to develop products through strategic partnerships and collaborations, and its four subsidiaries including:
Biomica Ltd. (www.biomicamed.com) developing and advancing novel microbiome-based therapeutics to treat human disorders powered by MicroBoost AI;
Lavie Bio Ltd. (www.lavie-bio.com) - developing and commercially advancing, microbiome based ag-biologicals powered by MicroBoost AI;
AgPlenus Ltd. (www.agplenus.com) -developing next generation ag chemicals for effective and sustainable crop protection powered by ChemPass AI; and
Casterra Ag Ltd. (www.casterra.co)– developing and marketing superior castor seed varieties producing high yield and high-grade oil content, on an industrial scale for the biofuel and other industries powered by GeneRator AI.
For more information, please visit: www.evogene.com.
midastouch017
1 month ago
Casterra Announces a Key Milestone in its Operational Expansion Plan in Africa, with Completion of First Shipment of Castor Seeds Grown and Processed in Kenya
https://finance.yahoo.com/news/casterra-announces-key-milestone-operational-120000095.html
The shipment, comprising over 100 tons, was delivered to company's customer in Africa
REHOVOT, Israel, Oct. 29, 2024 /PRNewswire/ -- Casterra Ag Ltd. ("Casterra"), an integrated castor cultivation solution company for oil production for bio-based products and biofuel, and a subsidiary of Evogene Ltd. ("Evogene") (Nasdaq: EVGN) (TASE: EVGN), today announced a key milestone in its operational expansion plan in Africa with the delivery of its first shipment of over 100 tons of castor seeds to its customer in Africa, seeds that were cultivated at several sites in Kenya and processed in a seed production facility near Naivasha, Kenya. The production facility started operating in August 2024 as part of Casterra's expansive operational infrastructure in Kenya.
This shipment of castor seeds, developed by Casterra and produced in Kenya, is the first to complete the entire cultivation and processing cycle in Kenya. The company is now focused on preparing upcoming shipments, which will be delivered to its customers over the coming months. Currently, approximately 700 additional hectares are sown with Casterra's premium varieties in Kenya, with harvest expected later this year and into early 2025.
The castor seeds in this shipment were cultivated by experienced local growers, and following harvest underwent an industrial-scale processing phase, which included dehulling, cleaning, sorting and packaging. Casterra's professional team oversaw and managed the entire cultivation and seed processing cycle, ensuring adherence to protocols and quality control standards.
Casterra's seed production operation in Kenya provides the company with a commercial advantage as it allows supply in geographic proximity to its customers in Africa, saving time and money on shipping costs while also supporting the local economy and agricultural practices.
Casterra's castor varieties were developed using Evogene's GeneRator AI tech-engine and undergo rigorous testing to meet industry standards. The company is actively working to develop new castor seed varieties that will demonstrate improved performance over existing ones.
Mr. Yoash Zohar, Casterra's CEO stated: "Over the past year Casterra invested significant efforts in solidifying its operational infrastructure in Africa, to ensure a stable supply of castor seeds to our customers in this region. We are satisfied with the collaborations with local growers in Kenya and with the dedication of our team members who support Casterra's seed cultivation and production activities in Kenya. We were excited to witness the first shipment leaving the seed production facility near Naivasha on its way to our customer in Africa. I am pleased to note that the company has taken yet another important step toward becoming a leading global supplier of castor seeds for oil production for bio-based products and biofuel."
About Casterra Ag Ltd.:
Casterra is engaged in developing and commercializing high-yielding castor bean seeds as a cost-competitive, sustainable, second-generation feedstock for the growing biofuel market. It has built its castor genetic assets based on a broad collection of over 300 castor lines from over 40 different geographic and climatic regions. As part of its development process, Casterra applies advanced breeding methods utilizing Evogene's GeneRator AI tech-engine, enabling the use of cutting-edge plant genomics tools and agro-technique expertise to enable efficient and sustainable industrial-scale production of the castor bean.
For additional information, please visit Casterra's website at: www.casterra.co
About Evogene Ltd.:
Evogene (Nasdaq: EVGN, TASE: EVGN) is a computational biology company aiming to revolutionize the development of life-science based products by utilizing cutting edge technologies to increase the probability of success while reducing development time and cost. Evogene established three unique tech-engines - MicroBoost AI, ChemPass AI and GeneRator AI – leveraging Big Data and Artificial Intelligence and incorporating deep multidisciplinary understanding in life sciences. Each tech-engine is focused on the discovery and development of products based on one of the following core components: microbes (MicroBoost AI), small molecules (ChemPass AI), and genetic elements (GeneRator AI).
Evogene uses its tech-engines to develop products through subsidiaries and strategic partnerships. Evogene's subsidiaries currently utilize the tech-engines to develop human microbiome-based therapeutics by Biomica, ag-biologicals by Lavie Bio, ag-chemicals by AgPlenus and castor varieties, for biofuel and other industries, by Casterra.
For more information, please visit: www.evogene.com.
midastouch017
4 months ago
Casterra Announces the Completion of a Successful Castor Seed Growing and Harvesting Season in Brazil
https://finance.yahoo.com/news/casterra-announces-completion-successful-castor-110000109.html
Castor seeds from Brazil will be ready for shipment during third quarter of 2024. Castor harvest season in Africa started as planned.
REHOVOT, Israel, July 31, 2024 /PRNewswire/ -- Casterra Ag Ltd., a subsidiary of Evogene Ltd. (Nasdaq: EVGN) (TASE: EVGN), and a provider of an integrated solution for industrial-scale cultivation of castor, based on its elite castor seed varieties, developed for bio-based industries including biopolymers & biofuels, is pleased to announce the successful completion of its current castor growing and harvesting season in Brazil. The seeds are planned to be shipped during the third quarter of this year. In addition, the castor harvesting season in Africa, which is expected to supply the majority of seeds for 2024, has started as planned. As noted in previous announcements, the castor seeds produced in 2024 in both Brazilan and African territories, are expected to allow Casterra to meet all its existing orders, amounting to ~$8.4M.
Mr. Yoash Zohar, CEO of Casterra states: "Current castor yields from the harvest in Brazil show an impressive improvement in our production capabilities. I am very proud of our professional team, which in past months invested, and keeps investing, time and efforts working closely with our subcontractors to ensure the best agricultural practices and crop performance, to produce Casterra's high quality castor seeds. We also expect to see such positive performance in our African territories where the majority of our seed production is taking place."
Casterra is at the forefront of the industrialization of castor, with unique elite varieties (high oil yield, compact and short cycle plants), global span seed production operation (Africa and Brazil), and growing protocols for efficient large-scale castor farming, well-positioned to lead industrialized castor farming.
About Casterra Ag Ltd.:
Casterra, a wholly owned subsidiary of Evogene, is an integrated solutions company for growing castor plants, based on its elite castor seed varieties, for bio-based industrial applications, such as biofuels & biopolymers. It has built its castor genetic assets based on a broad collection of over 300 castor lines from 40 different geographic and climatic regions. As part of its development process, Casterra applies advanced breeding methods utilizing Evogene's GeneRator AI tech-engine, enabling cutting-edge plant genomics tools and agro-technique expertise to enable efficient and sustainable industrial-scale production of the castor bean.
For more information, please visit http://www.casterra.co
midastouch017
4 months ago
Evogene Announces Expected Implementation of 1-for-10 Reverse Share Split
https://finance.yahoo.com/news/evogene-announces-expected-implementation-1-124800550.html
Following the reverse share split, the Company will have approximately 5,079,000 Ordinary Shares issued and outstanding
REHOVOT, Israel, July 23, 2024 /PRNewswire/ -- Evogene Ltd. (Nasdaq: EVGN) (TASE: EVGN) (the "Company" or "Evogene"), a leading computational biology company targeting to revolutionize life-science-based product discovery and development utilizing cutting edge computational biology technologies, across multiple market segments, announced today that a reverse share split of its issued and outstanding Ordinary Shares, at a ratio of 1-for-10, is expected to be implemented after market close on July 24, 2024. The Company's Ordinary Shares will begin trading on the Nasdaq Capital Market on a post-reverse split basis at the market open on July 25, 2024, and on the Tel Aviv Stock Exchange at the market open on July 28, 2024, in each case under the Company's existing trading symbol "EVGN".
The reverse share split was approved by the Company's shareholders at the Company's Annual Meeting of Shareholders held on June 13, 2024, to be effected at the board of directors' discretion within approved parameters.
Following the implementation of the reverse split, the Company's registered share capital under the Company's amended and restated articles of association, as currently in effect (the "Articles"), which as of the date hereof consists of NIS 3,000,000 divided into 150,000,000 Ordinary Shares of NIS 0.02 par value each, will be adjusted to consist of NIS 3,000,000 divided into 15,000,000 Ordinary Shares of NIS 0.2 par value each. The reverse split will adjust the number of issued and outstanding Ordinary Shares of the Company from approximately 50,790,000 Ordinary Shares to approximately 5,079,000 Ordinary Shares (subject to any further adjustments based on the treatment of fractional shares).
No fractional Ordinary Shares will be issued as a result of the reverse split. In accordance with the Company's Articles, all fractional shares shall be rounded to the nearest whole ordinary share, such that only shareholders holding fractional consolidated shares of more than half of the number of shares which consolidation constitutes one whole share, shall be entitled to receive one consolidated share. No cash will be paid with respect to any fractional shares. In addition, proportionate adjustments will be made to the number of shares issuable upon the exercise of all outstanding options entitling the holders to purchase Ordinary Shares (with a reciprocal increase in the per share exercise price) and to the number of Ordinary Shares underlying outstanding Restricted Share Units (RSUs).
midastouch017
5 months ago
ICL and Lavie Bio Leverage Artificial Intelligence to Make Significant Advancement in Development of Yield Increasing Bio-Stimulants
https://finance.yahoo.com/news/icl-lavie-bio-leverage-artificial-120000358.html
More than one dozen novel microbes identified for row crops suffering from extreme weather conditions
TEL AVIV and REHOVOT, Israel, July 17, 2024 /PRNewswire/ -- ICL (NYSE: ICL) (TASE: ICL), a leading global specialty minerals company, and Lavie Bio Ltd., a leading ag-biologicals company and subsidiary of Evogene Ltd. (Nasdaq: EVGN) (TASE: EVGN), today announced a significant milestone in their collaboration to develop bio-stimulant solutions for key row crops facing various abiotic stresses. By leveraging artificial intelligence (AI), Lavie Bio has computationally identified more than a dozen novel microbial candidates believed to have commercial viability as bio-stimulants for crops grown under extreme weather conditions, including drought. While this process can normally take several years, the collaboration achieved success within its first 12 months – thanks to Lavie Bio's proprietary Biology Driven Design (BDD) technology platform.
The ambitious AI-driven program, jointly developed by ICL and Lavie Bio, has identified novel microbe-based biological solutions that, when combined with fertilizers, are expected to be a game changer in overcoming various abiotic stresses under different weather conditions. By focusing on bio-stimulants that enhance crop resilience to such conditions, the collaboration has aimed to deliver tangible benefits to farmers, including a 5% to 10% increase in yield, on average.
As part of this AI-driven achievement, more than a dozen novel microbe candidates, which met the product requirements for efficacy, stability, shelf life and fertilizer compatibility, were computationally identified and verified in multiple greenhouse trials. The microbes were discovered and validated using Lavie Bio's BDD technology platform, powered by Evogene's MicroBoost AI tech-engine, and achieved a remarkable prediction rate from computer modelling to greenhouse validation – a rate ten times higher than the industry standard, according to company estimates.
This success paves the way for field trials in both the U.S. and Brazil in the second half of 2024, with results available by year-end. Lavie Bio will continue to leverage AI to drive product development and optimization, while ICL will guide the development and lead the way to product commercialization. The parties aim to start the regulatory process in 2026, just three years from program initiation.
"We are pleased to collaborate with Lavie Bio in the search for a novel solution to address a significant and proven market need in regions strategic to ICL," said Dr. Elinor Erez, vice president of R&D for ICL Growing Solutions. "This partnership exemplifies our commitment to pioneering advanced and unique biostimulant solutions for our customers, which aligns with our strategic vision to lead in agricultural innovation and sustainability and ensuring food security. The discovery process yielded candidate microbes that were validated in the green house, thanks to Lavie Bio's exceptional capabilities and their structured and efficient discovery platform. We are excited to move forward to field trials and are confident any future novel product will revolutionize how the agricultural community approaches plant resilience and productivity."
"We are very proud of the collaborations' significant progress, which was achieved by leveraging artificial intelligence to drive rapid advancements in our research," said Amit Noam, CEO of Lavie Bio. "Using ICL's deep agricultural expertise has been essential in focusing Lavie Bio's discovery efforts and has enabled us to advance to field trials in multiple target geographies quickly. Our team did a remarkable job of pushing our discovery process and platform to new heights, continuously improving computational accuracy and reducing both the time and cost to market for our novel products."
Recent research underscores the economic impact of climate change on global row crops, with extreme weather events, like droughts and floods, potentially causing billions in annual losses. Reports from the World Economic Forum and World Meteorological Organization highlight the rising costs, noting that extreme weather and climate-related disasters resulted in $4.3 trillion in losses from 1970 to 2021.[1][2][3] The agricultural sector urges the adoption of resilient strategies, technological innovations, and policy interventions to safeguard food security and mitigate economic vulnerabilities.
About ICL
ICL Group is a leading global specialty minerals company, which creates impactful solutions for humanity's sustainability challenges in the food, agriculture and industrial markets. ICL leverages its unique bromine, potash and phosphate resources, its global professional workforce, and its sustainability focused R&D and technological innovation capabilities, to drive the company's growth across its end markets. ICL shares are dual listed on the New York Stock Exchange and the Tel Aviv Stock Exchange (NYSE and TASE: ICL). The company employs more than 12,000 people worldwide, and its 2023 revenues totaled approximately $7.5 billion.
For more information, visit ICL's website at icl-group.com.
To access ICL's interactive CSR report, visit icl-group-sustainability.com.
midastouch017
6 months ago
Biomica Presents Positive Clinical Data Update from Ongoing Phase 1 Trial of Microbiome-Based Therapeutic, BMC128, for Refractory RCC, NSCLC & Melanoma
https://finance.yahoo.com/news/biomica-presents-positive-clinical-data-150000267.html
Preliminary Phase 1 results show promising trends for BMC128 in combination with nivolumab in refractory cancer patients. Data will be showcased at the 2024 American Society of Clinical Oncology (ASCO) annual meeting.
REHOVOT, Israel, May 23, 2024 /PRNewswire/ -- Biomica Ltd., a clinical-stage biopharmaceutical company developing innovative microbiome-based therapeutics and a subsidiary of Evogene Ltd. (Nasdaq: EVGN) (TASE: EVGN), today announced encouraging initial findings from an ongoing Phase 1 clinical trial. In the study, Biomica is investigating the safety and tolerability of its microbiome-based immuno-oncology candidate, BMC128, in combination with nivolumab, an anti-PD1 immune checkpoint inhibitor, in patients with non-small cell lung cancer (NSCLC), melanoma, or renal cell carcinoma (RCC).
All trial participants, 11 patients, had experienced disease progression in prior immunotherapy treatment before joining the trial. These preliminary findings represent some of the initial positive evidence emerging from the burgeoning field of clinical research on cancer therapies leveraging gut microbiota. While these results are preliminary and subject to further validation, they suggest potential benefits for patients facing advanced stages of these malignancies.
ASCO 2024 Presentation Details:
Title: Preliminary results from a First-in-Human (FIH), open-label Phase 1 study with BMC128, a rationally designed live bacterial consortium, in combination with nivolumab.
Session Type: Poster Session
Abstract Number: 8631
Date and Time: June 3, 2024, 1:30 PM – 4:30 PM (CDT)
Key observations from the study include:
Safety Profile: As of the data cutoff date, the safety profile of BMC128 has been exceptional, with no major safety events potentially associated with BMC128 reported during the course of BMC128 monotherapy or combination treatment, indicating a favorable safety profile for the investigational therapy.
Clinical Responses: As of the data cutoff date, among the patients included in the study, 72% of refractory cases exhibited positive clinical signals, indicating a potential efficacy for the BMC128 and nivolumab combination.
Response Rates: As of the data cutoff date, one patient demonstrated partial response (PR) upon imaging and RECIST v1.1 assessment and remains actively responding to treatment. Additionally, 64% of patients' disease stopped progressing following the combination treatment, and they displayed stable disease (SD) and sustained benefits beyond the first imaging assessment, suggesting additional important potential clinical benefit.
Durability of Response: As of the data cutoff date, 55% of patients showed sustained clinical benefit, with notable durations of response of over 16 weeks and with one patient exceeding 80 weeks.
Cross-Cancer Effectiveness: 100% of RCC patients and 60% of NSCLC patients in the study demonstrated positive clinical outcomes, indicating potential efficacy across different cancer types.
With these encouraging early results, it is important to note that the study remains ongoing. Further data will become available and analyzed through the next few months to gain a deeper understanding of the therapeutic potential of BMC128 in combination with nivolumab in cancer treatment.
Prof. Gal Markel, Director of the Davidoff Cancer Center, Rabin Medical Center and Biomica's Scientific Advisory Board member, said: "The positive trends emerging from the ongoing Phase 1 trial of BMC128, particularly in combination with nivolumab, underscore the transformative potential of microbiome-based therapeutics in oncology. These findings bring hope to patients contending with refractory RCC, NSCLC, and melanoma, envisioning a future where innovative treatments like BMC128 could provide meaningful solutions to longstanding challenges in cancer care. Additionally, the observed cross-cancer effectiveness hints at BMC128's broad applicability across different cancer types, further solidifying its significance in the field of oncology. The demonstrated safety profile thus far, alongside the encouraging clinical benefits including response rate and notable durability, accentuates the potential efficacy of BMC128 in addressing the unmet needs of patients grappling with these malignancies. These initial results mark a significant advancement, reflecting our steadfast commitment to pioneering innovative solutions that address critical unmet needs in oncology."
Dr. Elran Haber, Biomica CEO, stated, "The preliminary results from this Phase 1 study show positive evidence of BMC128's superior safety profile and potential efficacy when combined with anti-PD1 checkpoint inhibitor immunotherapy. This suggests potential benefits for patients with refractory NSCLC, melanoma, or RCC who have not responded to, or developed resistance to previous immunotherapy treatments. We believe BMC128 has the promise to be a potential therapy for patients fighting cancer, and we look forward to continuing to evaluate BMC128's beneficial activity in subsequent phases of clinical development. Furthermore, these results underscore the strength of Biomica's computational platform for microbiome drug discovery, developed with Evogene, validating our approach to innovative therapeutic solutions."
Additional information about the trial, can be found at: https://clinicaltrials.gov (ClinicalTrials.gov Identifier: NCT05354102).
About ASCO:
Founded in 1964, the American Society of Clinical Oncology, Inc. (ASCO®) is committed to the principle that knowledge conquers cancer. Together with the Association for Clinical Oncology, ASCO represents nearly 45,000 oncology professionals who care for people living with cancer. Through research, education, and promotion of high quality, equitable patient care, ASCO works to conquer cancer and create a world where cancer is prevented or cured, and every survivor is healthy. The ASCO Annual Meeting is a unique and unparalleled opportunity to connect with one of the largest, most diverse audiences in global cancer care as well as global cancer experts and professionals, to discover the latest innovations in cancer research and education.
About BMC128:
BMC128 is a rationally-designed microbial consortium identified and selected through a detailed functional microbiome analysis using PRISM, a proprietary high-resolution microbiome analysis platform powered by Evogene's MicroBoost AI platform.
Developed as a Live Bacterial Product (LBP), BMC128 is an LBP consortium comprised of four unique bacterial strains, natural inhabitants of the human intestinal tract, that harbour specific functional capabilities with the potential to enhance immunological therapeutic responses and facilitate anti-tumor immune activity through multiple biological processes.
Rationally-designed consortia are multi-strain products designed to restore diversity and specific functionality to a host's microbial community with individually selected, cultured bacteria.
About Biomica Ltd.:
Biomica is a clinical stage biopharmaceutical company developing innovative microbiome-based therapeutics utilizing PRISM system, a proprietary computational platform powered by Evogene's MicroBoost AI tech-engine. licensed from Evogene. Biomica aims to identify and characterize disease-related microbiome entities and to develop novel therapeutics based on these understandings. The company is focused on the development of therapies for antibiotic resistant bacteria, immuno-oncology, and microbiome-related gastrointestinal (GI) disorders. Biomica is a subsidiary of Evogene Ltd. (Nasdaq: EVGN) (TASE: EVGN).
For more information, please visit www.biomicamed.com.
About Evogene Ltd.:
Evogene (Nasdaq: EVGN, TASE: EVGN) is a computational biology company aiming to revolutionize the development of life-science-based products by utilizing cutting-edge technologies to increase the probability of success while reducing development time and cost. Evogene established three unique tech-engines - MicroBoost AI, ChemPass AI, and GeneRator AI – leveraging Big Data and Artificial Intelligence and incorporating deep multidisciplinary understanding in life sciences. Each tech-engine is focused on the discovery and development of products based on one of the following core components: microbes (MicroBoost AI), small molecules (ChemPass AI), and genetic elements (GeneRator AI).
Evogene uses its tech-engines to develop products through subsidiaries and strategic partnerships. Evogene's subsidiaries currently utilize the tech-engines to develop human microbiome-based therapeutics by Biomica, ag-biologicals by Lavie Bio, ag-chemicals by AgPlenus, medical cannabis products by Canonic and castor varieties, for the biofuel and other industries, by Casterra.
For more information, please visit www.evogene.com.
Forward-Looking Statements:
This press release contains "forward-looking statements" relating to future events. These statements may be identified by words such as "will", "may", "could", "expects", "intends", "anticipates", "plans", "believes", "scheduled", "estimates", "demonstrates", or words of similar meaning. For example, Evogene and Biomica are using forward-looking statements in this press release when they discuss the safety and potential efficacy of BMC128 and its potential benefits for patients with refractory NSCLC, melanoma, or RCC who have not responded to or developed resistance to previous immunotherapy treatments. Such statements are based on current expectations, estimates, projections and assumptions, describe opinions about future events, and involve certain risks and uncertainties which are difficult to predict and are not guarantees of future performance. Therefore, actual future results, performance or achievements of Evogene and its subsidiaries may differ materially from what is expressed or implied by such forward-looking statements due to a variety of factors, many of which are beyond the control of Evogene and its subsidiaries, including, without limitation, the current war between Israel Hamas and Hezbollah and any worsening of the situation in Israel such as further mobilizations or escalation in the northern border of Israel and those risk factors contained in Evogene's reports filed with applicable securities authorities. Evogene and its subsidiaries disclaim any obligation or commitment to update these forward-looking statements to reflect future events or developments or changes in expectations, estimates, projections, and assumptions.
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Evogene Investor Relations Contact:
Rachel Pomerantz Gerber
Head of Investor Relations at Evogene
rachel.pomerantz@evogene.com
Tel: +972-8-9311901
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View original content:https://www.prnewswire.com/news-releases/biomica-presents-positive-clinical-data-update-from-ongoing-phase-1-trial-of-microbiome-based-therapeutic-bmc128-for-refractory-rcc-nsclc--melanoma-302154259.html
SOURCE Biomica Ltd.
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midastouch017
6 months ago
Evogene Reports First Quarter 2024 Financial Results
https://finance.yahoo.com/news/evogene-reports-first-quarter-2024-110000510.html
Conference call and webcast: today, May 23, 2024, 9:00 am ET
Financial and Business Highlights:
Q1 2024 revenue: $4.2M vs. $0.6M in Q1 2023; anticipating continued growth in 2024.
Q1 2024 net loss: $3.8M vs. $7.0M in Q1 2023.
Projected 2024 cash usage, excluding Lavie Bio and Biomica: $8.0M, down 36% from $12.5M in 2023.
Ceasing Canonic's operations results in annualized savings of approximately $1.5 million.
Casterra's new agreements with African and Brazilian castor seed growers secure 900 tons of castor seeds, expected to fulfill all standing orders by end of 2024.
Biomica to present preliminary Phase 1 clinical trial results for BMC128 at the 2024 ASCO conference on June 3.
Lavie Bio received $2.5M, the second half of advanced payment from Corteva; announced new collaboration with Syngenta for bio insecticides; extended trials with Bayer for bio fungicides. Marketing and sales for Yalos™ are expanding in the US and Canada, with more crops added.
AgPlenus announced a new collaboration with Bayer, including an upfront payment, research funding, milestone payments, and future royalties; achieved a milestone with Corteva in an existing collaboration agreement.
REHOVOT, Israel, May 23, 2024 /PRNewswire/ -- Evogene Ltd. (Nasdaq: EVGN) (TASE: EVGN), a leading computational biology company aiming to revolutionize the development of life-science-based products, today announced its financial results for the first quarter period ended March 31, 2024.
Mr. Ofer Haviv, Evogene's President and CEO, stated: "Evogene's mission is to direct and accelerate the development of life-science based products. During the past years we developed three innovative AI tech-engines addressing the main development challenges of 3 life-science based product categories:
MicroBoost AI – for the development of microbe-based products,
ChemPass AI – for small-molecule-based products, and
GeneRator AI – for products based on genetic elements.
Our AI tech-engines were structured to be compatible with the tremendous potential of various market segments and not limited to only one specific segment.
In order to capture the value of our AI tech-engines, our business strategy is to establish diverse collaborative partnerships through licensing or collaboration, with expert partners in specific fields that complement our technology. Together, we'll develop novel products, aiming for full or partial ownership upon project completion.
This approach maximizes the potential of our AI tech-engines, while reducing financial and development risks. We believe this strategy holds the potential for groundbreaking innovations and significant financial gains for Evogene.
Today, Evogene has 4 subsidiary companies, and diverse engagements with leading companies in additional market segments, not covered by our subsidiaries.
I am very pleased to share with you the main achievements made by Evogene and its subsidiaries from the beginning of the year."
Evogene Updates:
Ceasing Canonic's operation - Evogene has decided to cease its subsidiary Canonic, which specialized in customized medical cannabis products, following challenging market conditions in the medical cannabis sector. This decision results in annualized savings of approximately $1.5 million. Resources will be reallocated to areas with greater growth potential, such as funding Casterra's needs for on-going capital.
Establishment of Finally Foods - In March 2024, Evogene and The Kitchen FoodTech Hub by Strauss Group, established Finally Foods Ltd., an AI-driven company focused on sustainable protein production in plants, for the food sector. Finally Foods will leverage Evogene's AI technology to modify plants for efficient protein production. The company has secured pre-seed funding from TKH and the Israeli Innovation Authority. Evogene holds approximately 40% stake in the company.
Collaboration with Verb Biotics - In February 2024, Evogene and Verb Biotics entered into a collaboration agreement to advance probiotic innovation by developing new strains of probiotic bacteria that produce sustainable quantities of microbial metabolites, which enhance human health and vitality. The partnership will leverage Evogene's MicroBoost AI tech-engine and Verb Biotics' expertise in microbiome health.
Subsidiaries Updates:
Casterra Ag Ltd. – focuses on developing an integrated solution to enable large-scale commercial cultivation of castor to address the global demand for stable castor oil supply, mainly for the biodiesel industry. Casterra is utilizing GeneRator AI tech engine to direct and accelerate the development of its unique elite castor seed varieties.
Under the supervision of Casterra's new CEO, the company has recently engaged with castor seed growers in Africa and Brazil. These engagements are expected to yield approximately 900 tons of castor seeds in 2024, fulfilling all existing purchase orders and providing additional inventory later this year. The balance of the existing purchase orders is anticipated to be delivered in the second half of 2024.
Biomica Ltd. - a clinical-stage biopharmaceutical company developing innovative microbiome-based therapeutics, utilizing Evogene's MicroBoost AI tech-engine.
In January, 2024, Biomica reached a significant milestone by completing Phase I trial enrollment for its microbiome-based immuno-oncology drug BMC128 - a rationally designed consortia of 4 bacteria. Biomica recently announced that it will be presenting preliminary Phase 1 study data of BMC128 in a poster presentation at the 2024 ASCO Annual Conference, on June 3rd.
Biomica is now preparing for advancing to Phase 2 of BMC128 clinical trial, and already conducted a pre-IND meeting with the FDA, aiming to initiate Phase 2 in 2025.
Results from Biomica's pre-clinical study in the IBS program, conducted in collaboration with NYU's medical school, were presented at the Digestive Disease Week 2024 Annual Conference in May 2024.
Lavie Bio Ltd. - a leading ag-biologicals company that develops microbiome-based, computational-driven novel bio-stimulant and bio-pesticide products, utilizing Evogene's MicroBoost AI tech-engine.
In February, 2024, Lavie Bio announced that it had met the requirements of its licensing agreement for LAV311 & LAV312 with Corteva. This achievement enabled the successful receipt of the second half of an advanced payment, amounting to $2.5 million, bringing the total to $5 million.
In February, 2024, Lavie Bio signed an agreement with Syngenta for the development of new biological insecticidal solutions.
Lavie Bio has extended its joint validation trials with Bayer for its bio-fungicides, following successful laboratory and greenhouse testing. This joint effort, aimed at combating diseases affecting fruits and vegetables globally, has moved to field experiments for further validation.
In March, 2024, Lavie Bio partnered with Ceres Global Ag Corp. to integrate its bio-inoculant, Yalos™, into regenerative agriculture programs across North America. This announcement and other marketing and sales efforts support the penetration of Yalos™ in US and Canada markets with additional crops being added for treatment. Based on initial orders and sales projections, 2024 revenues are anticipated to increase compared to the previous year.
AgPlenus Ltd. - a global leader in computational design and development of novel sustainable crop protection products, utilizing Evogene's ChemPass AI tech-engine.
In February, 2024, AgPlenus announced a licensing and collaboration agreement with Bayer to develop a novel mode of action broad-spectrum herbicide targeting the APTH1 protein. The agreement entitles AgPlenus to an upfront payment, which was received on March 2024, ongoing research funding, milestone payments, and royalties based on future product sales. Bayer will have the exclusive license for developing and commercializing products resulting from this collaboration.
In March, 2024, AgPlenus announced achieving a milestone under its existing collaboration with Corteva to develop new herbicides through a novel mode of action, APCO12, discovered by AgPlenus. The next phase of this collaboration will focus on optimizing the herbicide candidates towards a commercial-level product.
Financial Highlights:
Cash Position: As of March 31, 2024, Evogene held consolidated cash, cash equivalents, and short-term bank deposits of approximately $26.6 million, compared to approximately $31.1 million as of December 31, 2023. The consolidated cash usage during the Q1 2024 was approximately $4.5 million. Excluding Lavie Bio and Biomica, Evogene and its other subsidiaries used approximately $3.4 million in cash. Projected cash usage for 2024, excluding Lavie Bio and Biomica, is expected to be around $8.0 million, marking a notable 36% decrease from approximately $12.5 million in 2023.
Revenue: Revenues for the first quarter of 2024 were approximately $4.2 million, a significant increase from approximately $0.6 million in the same period the previous year. This growth was primarily driven by revenues recognized from Lavie Bio's licensing agreement with Corteva and AgPlenus's new collaboration with Bayer. Evogene anticipates continued revenue growth in 2024 compared to the previous year, mainly in the second half of 2024 based on Casterra's forecast for seed-order supply.
R&D Expenses: Research and development expenses for the first quarter of 2024 were stable at approximately $4.8 million, net of non-refundable grants, consistent with the same period in the previous year.
Sales and Marketing Expenses: These expenses increased to $992 thousand in the first quarter of 2024 compared to $800 thousand in the same period of the previous year. The increase was driven by heightened sales and marketing activities for Casterra's elite seed varieties and Lavie Bio's first commercial product, Yalos™.
General and Administrative Expenses: General and administrative expenses rose to approximately $1.7 million in the first quarter of 2024, compared to approximately $1.5 million in the same period of the previous year, mainly due to non-cash compensation for subsidiary CEOs.
Other Expenses: The decision to cease Canonic's operations resulted in recording other expenses of approximately $0.5 million, mainly due to impairment of fixed assets.
Operating Loss: The operating loss for the first quarter of 2024 was approximately $4.1 million, a decrease from $6.8 million in the same period of the previous year, mainly due to increased revenues.
Financing Income: Financing income net for the first quarter of 2024 was $241 thousand, compared to financing expenses net of $230 thousand in the same period of the previous year. This improvement was primarily due to increased interest income and revaluation of convertible SAFE.
Net Loss: The net loss for the first quarter of 2024 was approximately $3.8 million, compared to approximately $7.0 million in the same period last year. The $3.2 million decrease in net loss was primarily due to increased revenues and financial income, partially offset by the one-time $519 thousand other expenses related to ceasing Canonic's operations.
For the financial tables click here.
Conference Call & Webcast Details: Thursday, May 23, 2024. 9:00 AM EST 4:00 PM IDT
To join the Zoom conference, please register in advance here
Or join via audio
Or, dial: US: +1 253 215 8782 or +1 301 715 8592 or +1 305 224 1968 or +1 309 205 3325 or +1 312 626 6799 or +1 346 248 7799 or +1 360 209 5623 or +1 386 347 5053 or +1 507 473 4847 or +1 564 217 2000 or +1 646 558 8656 or +1 646 931 3860 or +1 669 444 9171 or +1 689 278 1000 or +1 719 359 4580 or +1 720 707 2699 or +1 253 205 0468
More International numbers
Webinar ID: 871 1216 5951
Webcast & Presentation link available at:
https://evogene.com/investor-relations/
midastouch017
8 months ago
Biomica to Present at Digestive Disease Week (DDW) Conference 2024 Annual Meeting
https://finance.yahoo.com/news/biomica-present-digestive-disease-week-110000094.html
REHOVOT, Israel, April 11, 2024 /PRNewswire/ -- Biomica Ltd., a clinical-stage biopharmaceutical company developing innovative microbiome-based therapeutics and a subsidiary of Evogene Ltd. (Nasdaq: EVGN, TASE: EVGN), today announced that it will present results from pre-clinical studies in its irritable bowel syndrome (IBS) program at the Digestive Disease Week (DDW) 2024 Annual Meeting. The conference is being held in Washington, D.C., May 18-21, 2024.
The pre-clinical work was led by Prof. Yehuda Ringel, Biomica's Co-Founder and CSO, in collaboration with the lab of Prof. Kara Gross Margolis, at the NYU Grossman School of Medicine. In the studies, Biomica tested two candidate therapeutic consortia of live bacterial strains, BMC426 and BMC427. Treatment with these drug candidates effectively reduced visceral pain, a major symptom of IBS.
Presentation Details:
Session Type: Research Forum
Session Title: Gut Instincts: Exploring the Interplay of the Microbiome and Gut-Brain Axis
Session Date & Time: May 18, 2024, from 8:00 AM to 9:30 AM EDT
Presentation Title: Pain-reduction effect of a rationally-designed live bacterial consortium for treatment of IBS based on microbiome functional genomics analysis
Prof. Ringel, Biomica's Co-Founder and CSO, stated: "These pre-clinical studies validate the findings of meticulous discovery research based on high-quality human data collected prospectively from patients with functional bowel disorders at the University of North Carolina (UNC) at Chapel Hill. These exciting proof of concept results pave the way for further development of our LBPs as an effective treatment for abdominal pain in patients with IBS and other painful gastrointestinal conditions".
Prof. Ringel will attend the DDW conference and will be available for in-person meetings, and those interested should be in touch with Professor Ringel and / or with the investor or public relations team.
About Biomica's IBS therapeutic candidates: BMC426 and BMC427
BMC426 and BMC427, which are Live Bacterial Products (LBPs), are rationally designed consortia designed to restore specific functionality to a microbial community with individually selected, cultured bacteria. BMC426 and BMC427 are comprised of bacterial strains selected for their multiple desired functions to achieve maximal functional activity with only 4 or 5 bacterial strains, respectively. These LBP's are aimed to result in robust metabolic, physiologic, and immune modulation, and affect IBS through several underlying and complementary modes of action.
About Biomica Ltd.:
Biomica is a clinical stage biopharmaceutical company developing innovative microbiome-based therapeutics utilizing PRISM system, a proprietary computational platform powered by Evogene's MicroBoost AI tech-engine. licensed from Evogene. Biomica aims to identify and characterize disease-related microbiome entities and to develop novel therapeutics based on these understandings. The company is focused on the development of therapies for antibiotic resistant bacteria, immuno-oncology, and microbiome-related gastrointestinal (GI) disorders. Biomica is a subsidiary of Evogene Ltd. (Nasdaq: EVGN, TASE: EVGN).
For more information, please visit www.biomicamed.com
About Digestive Disease Week
Digestive Disease Week® (DDW) is the largest international gathering of physicians, researchers and academics in the fields of gastroenterology, hepatology, endoscopy and gastrointestinal surgery. Jointly sponsored by the American Association for the Study of Liver Diseases (AASLD), the American Gastroenterological Association (AGA) Institute, the American Society for Gastrointestinal Endoscopy (ASGE) and the Society for Surgery of the Alimentary Tract (SSAT), DDW is an in-person and virtual meeting from May 18-2, 2024. The meeting showcases more than 4,000 abstracts and hundreds of lectures on the latest advances in GI research, medicine and technology. More information can be found at www.ddw.org.
About Evogene Ltd.:
Evogene (Nasdaq: EVGN, TASE: EVGN) is a computational biology company aiming to revolutionize the development of life-science-based products by utilizing cutting-edge technologies to increase the probability of success while reducing development time and cost. Evogene established three unique tech-engines - MicroBoost AI, ChemPass AI, and GeneRator AI – leveraging Big Data and Artificial Intelligence and incorporating deep multidisciplinary understanding in life sciences. Each tech-engine is focused on the discovery and development of products based on one of the following core components: microbes (MicroBoost AI), small molecules (ChemPass AI), and genetic elements (GeneRator AI).
Evogene uses its tech-engines to develop products through subsidiaries and strategic partnerships. Evogene's subsidiaries currently utilize the tech-engines to develop human microbiome-based therapeutics by Biomica, ag-biologicals by Lavie Bio, ag-chemicals by AgPlenus, medical cannabis products by Canonic and castor varieties, for the biofuel and other industries, by Casterra.
For more information, please visit www.evogene.com.
Forward-Looking Statements:
This press release contains "forward-looking statements" relating to future events. These statements may be identified by words such as "will", "may", "could", "expects", "intends", "anticipates", "plans", "believes", "scheduled", "estimates", "demonstrates", or words of similar meaning. For example, Evogene and Biomica are using forward-looking statements in this press release when they discuss Biomica's product candidates potentially resulting in robust metabolic, physiologic and immune modulation, and affecting IBS through several underlying and complementary modes of action, as well as an effective treatment for abdominal pain in patients with IBS and other painful gastrointestinal conditions. Such statements are based on current expectations, estimates, projections and assumptions, describe opinions about future events, and involve certain risks and uncertainties which are difficult to predict and are not guarantees of future performance. Therefore, actual future results, performance or achievements of Evogene and its subsidiaries may differ materially from what is expressed or implied by such forward-looking statements due to a variety of factors, many of which are beyond the control of Evogene and its subsidiaries, including, without limitation, the current war between Israel and Hamas and any worsening of the situation in Israel such as further mobilizations or escalation in the northern border of Israel and those risk factors contained in Evogene's reports filed with applicable securities authorities. Evogene and its subsidiaries disclaim any obligation or commitment to update these forward-looking statements to reflect future events or developments or changes in expectations, estimates, projections, and assumptions.
Contacts
Rachel Pomerantz Gerber
Head of Investor Relations at Evogene
rachel.pomerantz@evogene.com
Tel: +972-8-9311901
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SOURCE Biomica Ltd.
midastouch017
8 months ago
Evogene and The Kitchen FoodTech Hub by Strauss Group Established Finally Foods Ltd. - Revolutionizing Protein Production in Plants for the Food Industry
https://finance.yahoo.com/news/evogene-kitchen-foodtech-hub-strauss-110000794.html
Finally Foods is financed by the Israeli Innovation Authority (IIA) and The Kitchen Hub, and will be granted a license to utilize Evogene's AI technology
REHOVOT, Israel, April 2, 2024 /PRNewswire/ -- Evogene Ltd. (Nasdaq: EVGN) (TASE: EVGN), a leading computational biology company targeting to revolutionize life-science-based product discovery and development utilizing cutting edge computational biology technologies, across multiple market segments and The Kitchen FoodTech Hub (TKH), the foodtech incubator and investment arm of Israeli food giant Strauss Group, have jointly announced the establishment of Finally Foods Ltd.
'Finally Foods' is an AI-driven company specializing in molecular farming for the food sector, committed to providing sustainable alternative sources to animal-based proteins. The company's mission is to modify plants as "bioreactors" to produce these proteins efficiently and environmentally responsibly. Leveraging Evogene's GeneRator AI technology, the company aims for short R&D cycles and rapid time-to-market.
According to average market reports, the global alternative proteins market was valued at around USD 17.6 billion in 2022, with an anticipated average CAGR of 12%, expected to reach USD 55 billion by 2032[1]. 'Finally Foods' is poised to capture a share in this growing sector, leveraging the revolutionary potential of molecular farming – an efficient and environmentally friendly method for producing valuable proteins.
'Finally Foods' has secured pre-seed funding from TKH and the Israeli Innovation Authority (IIA). Evogene holds approximately 40% stake in the company, with the remaining ownership divided among TKH and the founding team – CEO Dafna Gabbay, a seasoned entrepreneur, and CTO Dr. Basia J. Vinocur, an expert in agricultural biotechnology.
Ofer Haviv, President & CEO of Evogene, expressed his enthusiasm for this new venture, stating, "We are thrilled to embark on this new segment, marking a milestone for Evogene as we continue to drive innovation and growth in the Life Science industry. By harnessing the power of our GeneRator AI tech-engine, molecular farming has the potential to revolutionize the food industry and promote healthier diets worldwide."
"'Finally Foods' is one of the rare cases where we see an extremely strong founding team, in Dafna and Basia, coupled with a proven technology platform based on the leading AI engine of Evogene" said Amir Zaidman, Chief Business Officer of The Kitchen Hub. "Establishing the company under the framework of The Kitchen and investing the pre-seed round was an easy decision in this case."
Dafna Gabbay, Co-Founder & CEO of Finally Foods, expressed her confidence, stating, "I believe that with Evogene's cutting edge technology, TKH's leading position in the FoodTech industry and with Dr. Vinocur's vast experience – 'Finally Foods' has full potential to emerge as a promising company in the alternative proteins sector. Molecular farming represents a catalyst towards global food security and a more sustainable future, and I am proud to lead 'Finally Foods' to take an important part towards supporting this crucial vision for the world."
About Evogene:
Evogene Ltd. (Nasdaq: EVGN, TASE: EVGN) is a computational biology company leveraging big data and artificial intelligence, aiming to revolutionize the development of life-science-based products by utilizing cutting-edge technologies to increase the probability of success while reducing development time and cost.
Evogene established three unique tech-engines - MicroBoost AI, ChemPass AI and GeneRator AI. Each tech-engine is focused on the discovery and development of products based on one of the following core components: microbes (MicroBoost AI), small molecules (ChemPass AI), and genetic elements (GeneRator AI).
Evogene uses its tech-engines to develop products through strategic partnerships and collaborations, and its five subsidiaries including:
1. Biomica Ltd. (www.biomicamed.com) developing and advancing novel microbiome-based therapeutics to treat human disorders powered by MicroBoost AI;
2. Lavie Bio Ltd. (www.lavie-bio.com) - developing and commercially advancing, microbiome based ag-biologicals powered by MicroBoost AI;
3. AgPlenus Ltd. (www.agplenus.com) -developing next generation ag chemicals for effective and sustainable crop protection powered by ChemPass AI;
4. Canonic Ltd. (www.canonicbio.com) – developing medical cannabis products based on decoding plant genetics for optimized therapeutic effect powered by GeneRator AI; and
5. Casterra Ag Ltd. (www.casterra.co)– developing and marketing superior castor seed varieties producing high yield and high-grade oil content, on an industrial scale for the biofuel and other industries powered by GeneRator AI.
For more information, please visit: www.evogene.com.
About The Kitchen Hub:
Founded in 2015 by the Strauss-Group as a part of the Israeli Innovation Authority incubators' program, The Kitchen is a seed investor and a FoodTech focused incubator.
The Kitchen addresses global food challenges by harnessing Israel's renowned innovation ecosystem. We strive to make the world's food chain more productive, affordable, sustainable and healthy by investing in and nurturing cutting-edge technology startups.
Some examples of our areas of interest are: improved agricultural processes, supply chain technologies, efficient food processing, sensors for food safety and quality, prolonged shelf life and reduction of food spoilage, smart packaging, ingredients and products with new health benefits, improved nutritional profiles, reduction of environmental footprint and more.
In addition to a capital investment, the incubator provides the portfolio companies with benefits such as: close mentorship from the incubator's team; access to expertise and know-how from within the Strauss-Group and its partners; connections with global F&B companies and access to international investors.
Our vision is: Better Industry; Better Food; Better World
We believe that technological innovation can overcome the challenges of the food industry and are teaming up with the best FoodTech entrepreneurs to turn our vision into a reality.
More on http://www.TheKitchenHub.com/
About Finally Foods Ltd:
Finally Foods Ltd. is a new AI-driven company specializing in molecular farming for the food sector. It was co-founded by Dafna Gabbay, CEO, a seasoned entrepreneur, and Dr. Basia J. Vinocur, CTO an expert in agricultural biotechnology. The company was formed in collaboration with Evogene Ltd., a leading computational biology company and The Kitchen FoodTech Hub (TKH), the FoodTech incubator and the investment arm of the Strauss Group. Finally Foods produces animal-based proteins by modifying plants to serve as "bioreactors", leveraging Evogene's AI technology. Its first target protein is Casein.
More on http://www.finally-foods.com
midastouch017
9 months ago
Bayer AG and Lavie Bio Continue for Second Year of Biofungicides Validation Following Successful Lab and Greenhouse Testing
https://finance.yahoo.com/news/bayer-ag-lavie-bio-continue-130000956.html
REHOVOT, Israel, March 19, 2024 /PRNewswire/ -- Lavie Bio Ltd., a leading ag-biologicals company that develops microbiome-based, computational-driven bio-stimulant and bio-pesticide novel products and a subsidiary of Evogene Ltd. (Nasdaq: EVGN) (TASE: EVGN), announced today that it is extending its joint validation trials for its biofungicides conducted by Bayer AG, a global leader in the agriculture industry, after successful first-year laboratory and greenhouse testing. The tests have demonstrated the efficacy of Lavie Bio's biofungicides in addressing devastating diseases that affect fruits and vegetables worldwide. Building on these positive outcomes, the companies are progressing to a second year of validation trials in field experiments.
"This is an important step in our open innovation strategy to bring new biological solutions to growers," said Benoit Hartmann, Head of Biologics at Bayer Crop Science. "Biofungicides are a real opportunity for innovation, and we are looking forward to the new solutions this partnership with Lavie Bio helps us deliver together."
"We are delighted with the consistently positive results we have observed in our experiments, which has led to the decision to extend the validation trials for another year in the field," said Amit Noam, CEO of Lavie Bio. "This not only highlights the immense business potential of our product and its meaningful impact on farmers worldwide but also reinforces our dedication to collaborative partnerships within the industry as we work together to deliver innovative solutions to the market."
The emergence of innovative ag biologicals, particularly biofungicides, provides a sustainable and responsible approach to disease management at a time when farmers are left with limited options to effectively address diseases that can pose a major threat to crop yield. These products demonstrate high efficacy in controlling oomycetes while minimizing environmental impact, thereby promoting sustainable agricultural practices.
Lavie Bio's commitment to refining its promising bio fungicides through joint validation trials with Bayer AG serves as a powerful testament to the company's development capabilities, leveraging its innovative BDD platform powered by Evogene's MicroBoost AI tech-engine.
About Lavie Bio Ltd.:
Lavie Bio, a subsidiary of Evogene Ltd., aims to improve food quality, sustainability, and agriculture productivity through the introduction of microbiome-based ag-biological products. Lavie Bio utilizes a proprietary computational predictive platform, the BDD platform, powered by Evogene's proprietary MicroBoost AI tech-engine, harnessing the power of big data, artificial intelligence, and advanced informatics, for the discovery, optimization and development of bio-stimulant and bio-pesticide products.
For more information, please visit www.lavie-bio.com.
PennyPusher786
9 months ago
PENNY PUSHER SAFE HARBOR STATEMENT:
Don't listen to or support the genociders in Israel who gaslight the world into accepting them as the darling child of the world while they steal your tax dollars and use it to kill babies children, women, men, doctors, journalists, harvesting organs from dead victims, desecration of GRAVES, blowing up hospitals, universities, journalism buildings... The world is waking up... Don't invest in genocide, have some principles people... don't just invest blindly to make a profit off bloodshed... Fraud and deception have never been more evident than today... pay attention, the signs are obvious... even those who support them are clearly evil, stubborn, bitter and just lost...
Source: PR Newswire (US)
REHOVOT, Israel, Oct. 18, 2023 /PRNewswire/ -- Evogene Ltd. (Nasdaq: EVGN) (TASE: EVGN), a leading computational biology company targeting to revolutionize life-science product discovery and development across multiple market segments, today provides an update to its investors and stakeholders amidst the ongoing security situation in Israel.
"In these trying times, we extend our heartfelt condolences to those directly and indirectly affected by the recent events in Israel," said Ofer Haviv, CEO of Evogene. "Despite the challenges, Evogene and its subsidiaries remain steadfast in their commitment to innovation and progress. Our focus and strategy remain stable, and our dedicated team works diligently to fulfill our missions for 2023 and pave the way for 2024. We are grateful for the unwavering support from our partners and stakeholders. We remain attentive and monitor our position and plans as the situation evolves."
midastouch017
1 year ago
Casterra Delivers First Shipment of Castor Seeds to Africa
https://finance.yahoo.com/news/casterra-delivers-first-shipment-castor-110000179.html
This first shipment, valued at approximately US$1 million, is part of a framework agreement with a world-leading oil and gas company
REHOVOT, Israel, Sept. 27, 2023 /PRNewswire/ -- Casterra Ag Ltd. ("Casterra"), an integrated castor cultivation solution company and a subsidiary of Evogene Ltd. ("Evogene") (Nasdaq: EVGN) (TASE: EVGN), today announced the shipment of its first batch of high-yield, high-oil castor seeds from Brazil and Zambia to its destination in Africa. This shipment, valued at US$1 million, is the first step in meeting US$11.3M purchase orders from a world-leading oil and gas company, which Casterra received in the second quarter of 2023.
Casterra's premium castor seeds are developed using Evogene's GeneRator AI tech-engine and undergo rigorous testing to meet industry standards. These seeds exhibit high-level cleanliness, successfully passed phytosanitary inspection, and have a germination percentage rate of 90%, exceeding the industry acceptance criteria benchmark.
Casterra CEO Eyal Ronen said: "We are pleased to initiate shipments under this framework agreement with a leading oil and gas company, demonstrating the feasibility of shipping large amounts of seeds, even across continents. Casterra anticipates it will supply the remainder of these seed's orders in the coming months."
About Casterra Ag Ltd.:
Casterra is engaged in developing and commercializing high-yielding castor bean seeds as a cost-competitive, sustainable, second-generation feedstock for the growing biofuel market. It has built its castor genetic assets based on a broad collection of over 300 castor lines from over 40 different geographic and climatic regions. As part of its development process, Casterra applies advanced breeding methods utilizing Evogene's GeneRator AI tech-engine, enabling the use of cutting-edge plant genomics tools and agro-technique expertise to enable efficient and sustainable industrial-scale production of the castor bean.
For more information, please visit http://www.casterra.co
midastouch017
1 year ago
Biomica Announces Interim Positive Results from Pre-Clinical Studies in its Irritable Bowel Syndrome (IBS) Program
The results demonstrate the efficacy of Biomica's live bacterial consortia, BMC426 and BMC427, for the treatment of IBS
REHOVOT, Israel, July 19, 2023 /PRNewswire/ -- Biomica Ltd., a clinical-stage biopharmaceutical company developing innovative microbiome-based therapeutics and a subsidiary of Evogene Ltd. (Nasdaq: EVGN) (TASE: EVGN), reported today interim positive results from pre-clinical studies in its IBS program. The pre-clinical work was performed in collaboration with the lab of Prof. Kara Gross Margolis, Associate Director for Clinical and Translational Research for the New York University Pain Research Center and an Associate Professor in the Department of Molecular Pathobiology in the NYU College of Dentistry and the Department of Pediatrics at NYU Grossman School of Medicine. In these studies, Biomica tested two candidate therapeutic consortia of live bacterial strains, BMC426 and BMC427. Treatment with these drug candidates effectively reduced visceral pain, a major symptom of IBS.
Irritable bowel syndrome, or IBS, is a chronic digestive system disorder estimated to affect 4.1% of the worldwide population[1]. IBS-affected individuals suffer from abdominal pain, bloating, and abnormal bowel movements; that often affect their daily functioning and quality of life. Current standard therapies for IBS are limited, particularly in relation to IBS-associated abdominal pain. Studies have pointed to associations between alterations in the gut microbiome and IBS, suggesting microbiome involvement in developing IBS symptoms[2].
BMC426 and BMC427 were designed based on their functional capabilities, utilizing data collected from IBS patients through research conducted at the University of North Carolina (UNC) Chapel Hill by Prof. Yehuda Ringel, Co-Founder and Chief Scientific Officer of Biomica. The data was analyzed in silico using Biomica's PRISM system, a proprietary computational platform powered by Evogene's MicroBoost AI tech-engine. Numerous functional capabilities of BMC426 and BMC427 have been successfully validated in relevant in-vitro models.
Today, Biomica is announcing positive results observed in its in-vivo pre-clinical work, which aimed to evaluate the potential of BMC426 and BMC427 in treating IBS. The results revealed that animals treated with either BMC426 or BMC427 displayed significantly lower levels of visceral sensitivity compared to the placebo-treated group. The study design and initial results will be presented in an oral presentation at the NeuroGASTRO conference of the European Society of Neurogastroenterology and Motility (ESNM) in September 2023.
These results lay the foundation for Biomica's advancement of its IBS therapeutics development program. In the coming year, Biomica plans to explore additional parameters related to pain reduction and the alleviation of other IBS symptoms, building upon these promising pre-clinical findings.
Prof. Kara Gross Margolis said: "The results of this study are incredibly exciting as they are the first to show that BMC426 or BMC427 may be helpful in the treatment of visceral pain in IBS and other gastrointestinal disorders, that are highly common with few effective therapies."
"We express our sincere gratitude to Prof. Kara Gross Margolis and her team at NYU, as their involvement has been instrumental in the promising results achieved in these in-vivo pre-clinical studies," said Prof. Yehuda Ringel. "By leveraging our innovative computational approach, which harnesses big data and high-resolution microbiome analysis to identify the optimal microbes for our product, we are poised to introduce a promising, microbiome-targeted therapy for this chronic and debilitating condition. We eagerly look forward to sharing further updates on the progress of this program as we continue our journey forward."
[1] https://pubmed.ncbi.nlm.nih.gov/32294476/
[2] https://www.ncbi.nlm.nih.gov/pmc/articles/PMC6039952/
About Biomica's IBS therapeutic candidates: BMC426 and BMC427
BMC426 and BMC427, which are Live Bacterial Products (LBPs), are rationally designed consortia designed to restore specific functionality to a microbial community with individually selected, cultured bacteria. BMC426 and BMC427 are comprised of bacterial strains selected for their multiple desired functions to achieve maximal functional activity with only 4 or 5 bacterial strains, respectively. These LBP's are aimed to result in robust metabolic and immune modulation, and affect IBS through several underlying and complementary modes of action.
About PRISM:
PRISM enables high-resolution microbiome computational analysis with specific emphasis on the functional aspects of the microbiome, host-microbe and microbe-microbe interactions, supporting a mechanistic approach to strains selection and providing the basis for Biomica's rational design of therapeutic live bacterial consortia.
About Biomica Ltd.:
Biomica is a clinical stage biopharmaceutical company developing innovative microbiome-based therapeutics utilizing PRISM system, a proprietary computational platform powered by Evogene's MicroBoost AI tech-engine. licensed from Evogene. Biomica aims to identify and characterize disease-related microbiome entities and to develop novel therapeutics based on these understandings. The company is focused on the development of therapies for antibiotic resistant bacteria, immuno-oncology, and microbiome-related gastrointestinal (GI) disorders. Biomica is a subsidiary of Evogene Ltd. (Nasdaq: EVGN, TASE: EVGN).
For more information, please visit www.biomicamed.com.
About Evogene Ltd.:
Evogene (Nasdaq: EVGN, TASE: EVGN) is a computational biology company aiming to revolutionize the development of life-science-based products by utilizing cutting-edge technologies to increase the probability of success while reducing development time and cost. Evogene established three unique tech-engines - MicroBoost AI, ChemPass AI, and GeneRator AI – leveraging Big Data and Artificial Intelligence and incorporating deep multidisciplinary understanding in life sciences. Each tech-engine is focused on the discovery and development of products based on one of the following core components: microbes (MicroBoost AI), small molecules (ChemPass AI), and genetic elements (GeneRator AI).
Evogene uses its tech-engines to develop products through subsidiaries and strategic partnerships. Evogene's subsidiaries currently utilize the tech-engines to develop human microbiome-based therapeutics by Biomica, ag-biologicals by Lavie Bio, ag-chemicals by AgPlenus, medical cannabis products by Canonic and castor varieties, for the biofuel and other industries, by Casterra.
For more information, please visit www.evogene.com.
Forward-Looking Statements:
This press release contains "forward-looking statements" relating to future events. These statements may be identified by words such as "will", "may", "could", "expects", "intends", "anticipates", "plans", "believes", "scheduled", "estimates", "demonstrates", or words of similar meaning. For example, Evogene and Biomica are using forward-looking statements in this press release when they discuss Biomica's products potential to bring a new form of therapy for chronic and devastating condition, the drug candidates' ability to reduce visceral pain in IBS and other gastrointestinal disorders, and the progress of the pre-clinical trials. Such statements are based on current expectations, estimates, projections and assumptions, describe opinions about future events, and involve certain risks and uncertainties which are difficult to predict and are not guarantees of future performance. Therefore, actual future results, performance or achievements of Evogene and its subsidiaries may differ materially from what is expressed or implied by such forward-looking statements due to a variety of factors, many of which are beyond the control of Evogene and its subsidiaries, including, without limitation, those risk factors contained in Evogene's reports filed with applicable securities authorities. Evogene and its subsidiaries disclaim any obligation or commitment to update these forward-looking statements to reflect future events or developments or changes in expectations, estimates, projections, and assumptions.
Contacts
Rachel Pomerantz Gerber
Head of Investor Relations at Evogene
rachel.pomerantz@evogene.com
Tel: +972-8-9311901
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SOURCE Biomica Ltd.
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midastouch017
1 year ago
Evogene Announces Pricing of US$8,500,000 Registered Direct Offering
https://finance.yahoo.com/news/evogene-announces-pricing-us-8-121500150.html
REHOVOT, Israel, July 17, 2023 /PRNewswire/ -- Evogene Ltd. ("Evogene") (Nasdaq: EVGN) (TASE: EVGN), a leading computational biology company aiming to revolutionize life-science-based product discovery and development utilizing cutting-edge computational biology technologies across multiple market segments, today announced it has entered into securities purchase agreements with institutional investors (including SilverArc Capital Management, Altium Capital Management, LP and CVI Investments, Inc.) for the purchase and sale of 8,500,000 ordinary shares in a registered direct offering at a purchase price of $1.00 per ordinary share (the "offering").
The closing of the offering is expected to occur on or about July 19, 2023, subject to the satisfaction of customary closing conditions. The gross proceeds from the offering are expected to be approximately $8,500,000 before deducting placement agent fees and other offering expenses. Evogene intends to use the net proceeds of this offering to further develop its and its subsidiaries' product pipelines, to further enhance and expand its CPB (Computational Predictive Biology) platform and technological engines and for working capital and general corporate purposes.
A.G.P./Alliance Global Partners is acting as sole placement agent for the offering.
The ordinary shares will be issued in a registered direct offering pursuant to an effective shelf registration statement on Form F-3 (File No. 333-253300) previously filed with the U.S. Securities and Exchange Commission (the "SEC"), under the Securities Act of 1933, as amended (the "Securities Act"), and was declared effective by the SEC on March 3, 2021. A prospectus supplement describing the terms of the proposed registered direct offering will be filed with the SEC and once filed, will be available on the SEC's website located at http://www.sec.gov. Electronic copies of the prospectus supplement may be obtained, when available, from A.G.P./Alliance Global Partners, 590 Madison Avenue, 28th Floor, New York, NY 10022, or by telephone at (212) 624-2060, or by email at prospectus@allianceg.com.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Evogene Ltd.
Evogene Ltd. (Nasdaq: EVGN) (TASE: EVGN) is a computational biology company leveraging big data and artificial intelligence to revolutionize the development of life-science-based products by utilizing cutting-edge technologies to increase the probability of success while reducing development time and cost.
Evogene established three unique tech-engines - MicroBoost AI, ChemPass AI and GeneRator AI. Each tech-engine is focused on the discovery and development of products based on one of the following core components: microbes (MicroBoost AI), small molecules (ChemPass AI), and genetic elements (GeneRator AI).
Evogene uses its tech-engines to develop products through strategic partnerships and collaborations, and its five subsidiaries include:
Biomica Ltd. (www.biomicamed.com) developing and advancing novel microbiome-based therapeutics to treat human disorders powered by MicroBoost AI;
Lavie Bio Ltd. (www.lavie-bio.com) developing and commercially advancing microbiome-based ag-biologicals powered by MicroBoost AI;
AgPlenus Ltd. (www.agplenus.com) developing next-generation ag chemicals for effective and sustainable crop protection powered by ChemPass AI;
Canonic Ltd. (www.canonicbio.com) developing medical cannabis products based on decoding plant genetics for optimized therapeutic effect powered by GeneRator AI; and
Casterra Ag Ltd. (www.casterra.co) developing and marketing superior castor seed varieties producing high yield and high-grade oil content on an industrial scale for the biofuel and other industries powered by GeneRator AI.
For more information, please visit www.evogene.com
midastouch017
1 year ago
Lavie Bio Announces Licensing Agreement for Bio-Fungicides with Corteva Agriscience
https://finance.yahoo.com/news/lavie-bio-announces-licensing-agreement-113000718.html
Corteva to receive exclusive rights to further develop and commercialize Lavie Bio's lead product candidates for fruit rot and powdery mildew fungicide biologicals
REHOVOT, Israel, July 17, 2023 /PRNewswire/ -- Lavie Bio Ltd., a subsidiary of Evogene Ltd. (NASDAQ: EVGN) (TASE: EVGN), and a leading ag-biologicals company that develops microbiome-based, computational driven bio-stimulant and bio-pesticide novel products, announced today a licensing agreement with Corteva Inc. (NYSE: CTVA), a leading ag innovation company. The agreement grants Corteva exclusive rights to further develop and commercialize the lead bio-fungicide product candidates targeting fruit rots and powdery mildew, which were discovered and developed by Lavie Bio. The agreement comes after two years of independent field validation conducted by both companies.
Fruit rots and powdery mildew, two destructive diseases affecting vineyards, fruits, and vegetables, have resulted in annual losses estimated at billions of dollars globally. Fruit rot pathogens, such as Botrytis, can cause damage upon contact with infected plant material. Meanwhile, powdery mildew spreads swiftly between plants via wind-dispersed spores.
The agreement is part of Lavie Bio's strategy to cooperate with the world's leading companies to allow the products it develops to reach farmers worldwide and Corteva, with its proven agbiological capabilities, can leverage Lavie Bio's product candidates toward commercial success. This collaboration demonstrates both companies' commitment to providing farmers with environmentally friendly, sustainable tools with proven effectiveness.
"Our licensing agreement solidifies the collaboration between both companies, leveraging Corteva's impressive scale-up capabilities and market leadership, in conjunction with Lavie Bio's distinctive discovery expertise powered by Evogene's MicroBoost AI tech-engine and comprehensive product development capabilities" said Amit Noam, CEO of Lavie Bio. "This agreement not only highlights Lavie Bio's technological capabilities but also enables us to swiftly introduce groundbreaking ag-biological solutions that benefit farmers, consumers, and the environment. "
"When you have a world-class R&D program, like we do at Corteva Agriscience, it allows you to move fast and bring on new opportunities that will help farmers meet the demands of an ever-changing food system," said Sam Eathington, Executive Vice President, Chief Technology and Digital Officer, Corteva Agriscience. "This agreement gives us yet another avenue to provide better solutions to farmers now, and in the future."
About Lavie Bio Ltd.
Lavie Bio, a subsidiary of Evogene Ltd., aims to improve food quality, sustainability, and agriculture productivity by introducing microbiome-based ag-biological products. Lavie Bio utilizes a proprietary computational predictive platform, the BDD platform, powered by Evogene's proprietary MicroBoost AI tech-engine, harnessing the power of big data, artificial intelligence, and advanced informatics for the discovery, optimization and development of bio-stimulant and bio-pesticide products.
For more information, please visit www.lavie-bio.com.
About Evogene Ltd.
Evogene (NASDAQ: EVGN) (TASE: EVGN) is a computational biology company aiming to revolutionize the development of life-science-based products by utilizing cutting-edge technologies to increase the probability of success while reducing development time and cost. Evogene established three unique tech-engines – MicroBoost AI, ChemPass AI and GeneRator AI – leveraging Big Data and Artificial Intelligence and incorporating deep multidisciplinary understanding in life sciences. Each tech-engine is focused on the discovery and development of products based on one of the following core components: microbes (MicroBoost AI), small molecules (ChemPass AI), and genetic elements (GeneRator AI). Evogene uses its tech-engines to develop products through subsidiaries and strategic partnerships. Evogene's subsidiaries currently utilize the tech-engines to develop human microbiome-based therapeutics by Biomica, ag-biologicals by Lavie Bio, ag-chemicals by AgPlenus, medical cannabis products by Canonic and castor varieties, for the biofuel and other industries, by Casterra.
For more information, please visit www.evogene.com.
About Corteva
Corteva, Inc. (NYSE: CTVA) is a publicly traded, global pure-play agriculture company that combines industry-leading innovation, high-touch customer engagement and operational execution to profitably deliver solutions for the world's most pressing agriculture challenges. Corteva generates advantaged market preference through its unique distribution strategy, together with its balanced and globally diverse mix of seed, crop protection, and digital products and services. With some of the most recognized brands in agriculture and a technology pipeline well positioned to drive growth, the company is committed to maximizing productivity for farmers, while working with stakeholders throughout the food system as it fulfills its promise to enrich the lives of those who produce and those who consume, ensuring progress for generations to come. More information can be found at www.corteva.com.
Follow Corteva on Facebook, Instagram, LinkedIn, Twitter, and YouTube.
midastouch017
1 year ago
AgPlenus Appoints Dr. Adrian Percy to Its Board of Directors
https://finance.yahoo.com/news/agplenus-appoints-dr-adrian-percy-110000874.html
REHOVOT, Israel, July 12, 2023 /PRNewswire/ -- AgPlenus Ltd., an innovative company designing novel and safe crop protection products allowing food security for a rapidly growing world population, and a subsidiary of Evogene Ltd. (Nasdaq: EVGN) (TASE: EVGN), is pleased to announce the appointment of Dr. Adrian Percy to its board of directors. Dr. Percy, who also serves as a member of Evogene Ltd.'s board of directors since March 2019, brings a wealth of expertise and a deep commitment to advancing environmentally friendly agricultural technologies.
With over 25 years of experience in the agricultural industry, Dr. Adrian Percy strongly advocates for environmentally friendly agricultural and food technologies to support global food supply and security. He has held senior management positions, including Head of Research & Development for Bayer's Crop Science division, overseeing crop protection, seeds, traits, and regulatory affairs. Dr. Percy's academic background includes a bachelor's degree in pharmacology from the University of Liverpool, a Master's degree in Toxicology, and a doctorate in Biochemistry from the University of Birmingham. His expertise and passion make him a valuable addition to AgPlenus' board of directors.
Ofer Haviv, Chairman of AgPlenus, expressed his excitement: "We are delighted to welcome Dr. Adrian Percy to AgPlenus' board of directors. His extensive agricultural industry experience and passion for developing environmentally sustainable solutions align perfectly with our company's vision. Dr. Percy's guidance and strategic insights will be invaluable as we continue to innovate and deliver effective crop protection products that address the challenges farmers worldwide face."
Dr. Adrian Percy commented regarding his appointment, "I am honored to join AgPlenus' board of directors and contribute to developing sustainable crop protection solutions. AgPlenus' commitment to leveraging computational biology and chemistry aligns with my vision for a more sustainable future in agriculture. I look forward to working closely with the board and management team to drive innovation and positively impact the industry."
About AgPlenus Ltd.
AgPlenus is a platform company designing novel and safe crop protection products. At AgPlenus, we direct and accelerate the development of target-based novel crop protection products, utilizing a revolutionary tech-engine, based on AI combined with a deep understanding of biology and chemistry. By employing our target-based approach, we are able to minimize risks and enhance effectiveness, enabling us to fulfill our commitment to ensuring food security by overcoming global pesticide resistance. AgPlenus has ongoing collaborations with industry leaders such as Corteva. AgPlenus is a subsidiary of Evogene Ltd.
For more information, please visit www.agplenus.com
About Evogene Ltd.:
Evogene (Nasdaq: EVGN, TASE: EVGN) is a computational biology company aiming to revolutionize the development of life-science-based products by utilizing cutting-edge technologies to increase the probability of success while reducing development time and cost. Evogene established three unique tech-engines - MicroBoost AI, ChemPass AI, and GeneRator AI – leveraging Big Data and Artificial Intelligence and incorporating deep multidisciplinary understanding in life sciences. Each tech-engine is focused on the discovery and development of products based on one of the following core components: microbes (MicroBoost AI), small molecules (ChemPass AI), and genetic elements (GeneRator AI).
Evogene uses its tech-engines to develop products through subsidiaries and strategic partnerships. Evogene's subsidiaries currently utilize the tech-engines to develop human microbiome-based therapeutics by Biomica, ag-biologicals by Lavie Bio, ag-chemicals by AgPlenus, medical cannabis products by Canonic and castor varieties, for the biofuel and other industries, by Casterra.
For more information, please visit www.evogene.com
Contacts
Rachel Pomerantz Gerber
Head of Investor Relations at Evogene
rachel.pomerantz@evogene.com
Tel: +972-8-9311901
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SOURCE AgPlenus Ltd.
midastouch017
1 year ago
Casterra Announces Additional $2.2 Million of Purchase Orders to Supply Castor Seeds for New African Territories
https://finance.yahoo.com/news/casterra-announces-additional-2-2-110000172.html
Casterra will supply the castor seeds in 2023 for the cultivation of castor plants to produce oil for sustainable biofuel
REHOVOT, Israel, July 3, 2023 /PRNewswire/ -- Casterra Ag Ltd. ("Casterra"), an integrated castor cultivation solution company and a subsidiary of Evogene Ltd. ("Evogene") (NASDAQ: EVGN) (TASE: EVGN), today announced additional $2.2 million of purchase orders to supply castor seeds during 2023, for new African territories. Casterra's castor seeds, developed with Evogene's GeneRator AI Tech Engine, will be used to grow Castor to produce oil for sustainable biofuel. Casterra's high-yield, high-oil castor seed varieties are optimized for biofuel production to support the growing sustainable energy market.
The biodiesel market is estimated at ~$92 billion in 2021, which is about 9% of the overall global diesel market and is expected to reach ~$190 billion by 20301. In current industry practice, biodiesel is based on a mix of about 93-95% fossil oil and 5-7% non-fossil oil from plants or other sources. The demand for non-fossil oil for biodiesel could increase either by growth of the biodiesel segment in the regular diesel market and/or by an increase in the percentage of non-fossil used in the biodiesel mix. Biofuels offer significant advantages over conventional petrochemical fuels, presenting a renewable and biodegradable alternative with substantially lower negative environmental impact.
Castor emerges as a standout non-fossil oil candidate due to its carbon-neutral properties, with emissions during combustion closely matching the carbon dioxide absorbed during the growth of castor plants. Furthermore, the castor plant can be cultivated on marginal lands, in semi-arid to arid conditions, and it does not compete on ground with edible crops.
Casterra, as Evogene's subsidiary, spearheads the development of proprietary high-yield castor varieties leveraging the company's cutting-edge computational biology technologies. By utilizing Evogene's GeneRator AI tech engine and incorporating advanced computational AI capabilities and proprietary plant genomic databases.
"We are thrilled to receive additional significant purchase orders for our unique castor seed, which confirms our value proposition for the sustainable biofuel industry," expressed Eyal Ronen, Chief Executive Officer of Casterra. "As we eagerly hope to secure more orders in the future, this accomplishment reinforces our ongoing commitment to delivering exceptional, eco-friendly solutions to meet the ever-growing global demand for renewable energy. After more than a decade of hard work and an investment of tens of millions of dollars in developing our unique varieties and underlying technology, we are proud that Casterra is now a trusted and reliable supplier in this growing market."
About Casterra Ag Ltd.:
Casterra is engaged in developing and commercializing high-yielding castor bean seeds as a cost-competitive, sustainable, second-generation feedstock for the growing biofuel market. It has built its castor genetic assets based on a broad collection of over 300 castor lines from over 40 different geographic and climatic regions. As part of its development process, Casterra applies advanced breeding methods utilizing Evogene's Generator AI tech engine, enabling the use of cutting-edge plant genomics tools and agro-technique expertise to enable efficient and sustainable industrial-scale production of the castor bean.
For more information, please visit http://www.casterra.co
About Evogene Ltd.:
Evogene (NASDAQ: EVGN) (TASE: EVGN) is a computational biology company aiming to revolutionize the development of life-science-based products by utilizing cutting-edge technologies to increase the probability of success while reducing development time and cost. Evogene established three unique tech engines - MicroBoost AI, ChemPass AI, and GeneRator AI – leveraging Big Data and Artificial Intelligence and incorporating deep multidisciplinary understanding in life sciences. Each tech engine is focused on the discovery and development of products based on one of the following core components: microbes (MicroBoost AI), small molecules (ChemPass AI), and genetic elements (GeneRator AI).
Evogene uses its tech engines to develop products through subsidiaries and strategic partnerships. Evogene's subsidiaries currently utilize the tech engines to develop human microbiome-based therapeutics by Biomica, ag-biologicals by Lavie Bio, ag-chemicals by AgPlenus, medical cannabis products by Canonic and castor varieties, for the biofuel and other industries, by Casterra.
For more information, please visit www.evogene.com
Forward-Looking Statements:
This press release contains "forward-looking statements" relating to future events. These statements may be identified by words such as "will", "may", "could", "expects", "intends", "anticipates", "plans", "believes", "scheduled", "estimates", "demonstrates", or words of similar meaning. For example, Evogene and Casterra are using forward-looking statements in this press release when they discuss the expected timing of delivery of Casterra's seeds, estimated growth in the biodiesel markets, Casterra's ability to meet demand for biodiesel, biofuels' advantages over conventional petrochemical fuels, potential sources for an increase in demand for plant oil used in biodiesel and the potential for future orders of Casterra's seeds. Such statements are based on current expectations, estimates, projections and assumptions, describe opinions about future events, and involve certain risks and uncertainties which are difficult to predict and are not guarantees of future performance. Therefore, actual future results, performance or achievements of Evogene and its subsidiaries may differ materially from what is expressed or implied by such forward-looking statements due to a variety of factors, many of which are beyond the control of Evogene and its subsidiaries, including, without limitation, those risk factors contained in Evogene's reports filed with applicable securities authorities. Evogene and its subsidiaries disclaim any obligation or commitment to update these forward-looking statements to reflect future events or developments or changes in expectations, estimates, projections, and assumptions.
Contacts
Rachel Pomerantz Gerber
Head of Investor Relations at Evogene
rachel.pomerantz@evogene.com
Tel: +972-8-9311901
1 Biodiesel Market (By Feedstock: Vegetable Oil, Animal Fats; By Application: Fuel, Power Generation, Others; By Production Process: Alcohol Trans-Esterification, Hydro-Heating) - Global Industry Analysis, Size, Share, Growth, Trends, Regional Outlook, and Forecast 2022-2030. https://www.precedenceresearch.com/biodiesel-market
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SOURCE Casterra Ag Ltd.
midastouch017
1 year ago
Evogene - A Company With Valuable Assets Trading At Zero Enterprise Value
By Kate Hayden
Thursday, June 22, 2023 9:17 AM EDT
Introduction
Evogene is a Nasdaq and Tel Aviv listed company under the ticker EVGN. The company is both an agri-tech (agricultural technology) and bio-tech company with a computational predictive biological platform technology, which supports three AI tech-engines (GeneRator AI, ChemPass AI & MicroBoost AI). The technology is leveraged to five relatively early-stage subsidiaries: three of which have reached the commercialization phase and have sales.
There have been a number of articles on TalkMarkets describing the overall company and its structure, (see here and here), as well as some excellently detailed analysis and overview on Evogene and each of its subsidiaries by investor, Stephen Goldman on Seeking Alpha. This article will focus primarily on the valuation of the business, without going into detail into what those subsidiaries actually do.
The company has a market cap of around $30 million (at a share price of $0.72), and has been trading at around those same levels since mid 2022, following a very sharp 90%+ fall from its peak of around $9.50 in February 2021. At the same time, the company had $29 million in consolidated cash as of Q1-end*.
*As a side note, we note this is today a conservative estimate of cash, since following Q1, Evogene received a $10 million investment in Biomica; an EU grant of over $1 million to develop drought resistant crops; revenues from Lavie Bio’s seed treatment which peaks in spring-time, and is set to receive a further $9 million in the near-term from an oil giant for castor seeds for biofuel, less ongoing cash burn.
The company was a key holding in Cathie Wood’s ARK Genomic Revolution ETF fund (ARKG) back in 2021. However, as ARK’s funds grew significantly, ARK exited most of their smaller holdings including Evogene, and combined with the 2021-2022 market crash, the company has since taken the hit to its share price, despite prospects significantly improving versus its position in 2021-2022.
Today, with effectively zero (or lower) enterprise value, when purchasing the shares, investors today are basically buying that same amount in cash, getting all the AI technology assets contained within the company and the value in the subsidiaries for free.
This is extremely pessimistic from the markets perspective.
Valuation of the subsidiaries
For one, the subsidiaries do have real value, ascribed by external investment from professional funds. Two of the subsidiaries have seen recent venture capital (VC) investment from serious institutions, providing external valuation.
Biomica (Evogene’s early stage bio-tech company focused on the human microbiome) of which 76% is now held by Evogene, saw an investment of $10 million, at a valuation of $50 million by Chinese VC, Shanghai Healthcare Capital, implying a value of $38 million to Evogene. This itself is above the market valuation of Evogene.
Lavie Bio of which Evogene currently owns 70% and Corteva (NYSE: CTVA) owns the balance, is an early-stage agri-tech company which already has growing sales. They closed a SAFE (simple agreement for future equity) investment round at the end of last year bringing in $10 million from Israel Chemicals (NYSE: ICL). While SAFE investments mean valuation, and ownership adjustments, are not fixed until a later date, we do not believe the future round will be at a valuation below what Corteva paid in 2019 when the company was pre-sales: $27 million investment for 30%, implying a valuation of $90 million. Assuming ICL invests $10 million at a $90 million valuation, representing 11% ownership for ICL, Evogene’s ownership would drop to 63% of a $90 million company, whose value to Evogene would be $57 million - almost 2X Evogene’s valuation.
Canonic, a medical cannabis company of which Evogene holds 100%, has small but growing sales in Israel and has signed various royalty license agreements for its genetic varieties. It is noted that these license agreements are basically costless to Evogene and offer Canonic 100% gross margin. Given the weakness in the cannabis space globally, the company has stated they are looking for strategic alternatives for Canonic. While we can assume the valuation of the company is not significant given the unattractive cannabis market, given existing and growing sales plus its ability to gain royalties at almost 100% margin by licensing out existing IP - its genetic varieties - and its initial success in doing so, so far, the value is clearly above zero.
AgPlenus, developing crop protection products, of which Evogene owns 98%, is also at an early stage. In the conference call, the Evogene CEO stated that, “Major ag-chemical companies such as BASF, Bayer, Corteva, and Syngenta dominate today's crop protection industry. Still, they look to smaller ag-tech companies like AgPlenus to develop new minor molecule candidates, and AgPlenus is exploring partnerships with these major industry players.” The company is working with Corteva (also mentioned earlier as an owner and partner in Lavie Bio). The company has a pipeline, has solid partnerships and there is definitely strong potential here. Again the valuation is clearly above and probably well above zero.
Casterra, selling genetically advanced castor seeds for oil production of which Evogene holds 100%, is likely the subsidiary with the highest potential for significant value creation in the short-term. Casterra’s castor seed varieties used for bio-fuel production are designed to maximize water efficiency, provide drought resistance, and enable cultivation on marginal, non-arable land. Casterra offers a sustainable production process for growing biofuels, which oil majors can leverage.
This is why Casterra has attracted the attention of a major oil and gas company, looking to build its expertise in the biofuel sector in Africa. It just announced a significant $9 million initial purchase order for Castor seeds, following an earlier order in January (for an undisclosed amount). $9 million for an oil major, is clearly just a ‘drop in the ocean’ and the future potential is likely in the tens of millions, if not hundreds or more. Beyond that, we think the market itself is very interesting and will grow as the oil companies look to offer more sustainable forms of fuel, which castor grown fuel indeed is.
While Casterra has never raised external capital, it has no external valuation. However, 2023 revenues at Casterra will be relatively high versus all other subsidiaries in Evogene, and likely to further grow significantly in 2024 and 2025. We do not know what the gross margin on Casterra’s seed development is, but the majority of the value is tied up in the IP and genetic makeup of the seeds, and we should assume similar margins to other such biotech products, which would be in the 80-90% range. The operating expense footprint at the subsidiary is low with only a handful of employees, and we would estimate with 2023 revenues of over $9 million, the company is highly profitable.
There are other biofuel companies which we can use as a guide to valuation: according to Lake Street’s research on Evogene, CoverCress was purchased by Bayer and Chevron for over $200 million, and S&W-seeds has a biofuel JV valued at $150 million, investments made at both companies at the pre-revenue stage. We would assume that a revenue generating and profitable biofuel company, with very significant growth potential, should be at least within this range.
To summarize, while the market is valuing Evogene at its cash level at around $30 million, the conservative value of Evogene of its subsidiaries: net cash above $29m; Biomica at $38m; Lavie Bio at $57m; Canonic above $0m; AgPlanus well above $0m, and Casterra at least $100m; yields a value of well above $224 million, or well over $5 per share, versus around $0.73 today, and upside of well above 6X.
Evogene’s technology
And all that does not take into account Evogene’s technology. Evogene is a 20 year old company, and over that time primarily focused on research and development (R&D). In 2022, it spent $21 million in R&D, and extrapolating out to its founding, we can assume that over those two decades, Evogene has likely invested in the region of $400 million into R&D, developing the technology at its subsidiaries and into its own technology.
Evogene itself has a technology platform, which all its subsidiaries can leverage, called the Computational Predictive Biology platform or CPB, which it provides to its subsidiaries to direct and accelerate the discovery and development of their life-science-based products.
It consists of three artificial intelligence engines which use a large amount of either microbial, molecular or genetic data to train and ultimately discover new potential products and applications, called MicroBoost AI, ChemPass AI, and GeneRator AI. More information on these engines can be found within Evogene’s presentations on its investor relations website.
There are no external metrics on which to value Evogene’s technology, but given the significant amount spent over decades, Evogene’s partnerships with leading ag-companies such as Corteva and ICL, and its revenue generating subsidiaries, there is clear value - and probably very significant value - here.
Conclusion
Pessimists might argue that the reason for today’s sub $1 valuation, and trading at or below cash, is the expectation that the company will spend down its money without an exit to boost its capital. Recent news: Casterra’s $9m sale of seeds, $10m investment in Biomica, $10m SAFE investment in Lavie Bio, and ~$1.5m Horizon grant, as well as two revenue generating subsidiaries means that Evogene’s cash is actually increasing, and this risk today, is becoming increasingly remote.
From a sum-of-parts perspective, Evogene is likely worth many multiples of its market valuation today. From a conservative perspective, we calculate it is worth well above $5, without ascribing any value to Evogene’s technology. This represents at least a 6X upside from today’s share price.
When this will eventually come, nobody knows, but the recent news at Casterra represents a very significant catalyst and ultimately value is hard to keep locked up forever.
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