Second-generation products were developed using novel genetic
markers and leverages Evogene's GeneRator AI
tech-engine
REHOVOT, Israel, Feb. 21,
2023 /PRNewswire/ -- Canonic Ltd., focused on the
development of medical grade cannabis products and a wholly owned
subsidiary of Evogene Ltd. (Nasdaq: EVGN) (TASE: EVGN), today
announced the completion of its launch of six second-generation
hybrid cannabis products in Israel. The design and development of these
new cannabis products leveraged Evogene's GeneRator AI
tech-engine to select desirable characteristics such as THC
(tetrahydrocannabinol) content and certain terpene profiles.
Canonic's second generation products are characterized by high
levels of THC, the primary psychoactive ingredient in cannabis, at
23% and above; the highest THC percentage allowed in Israel being 24.4%. The six new products
released into the market in Israel
are named: Synergy (THC 24%), Combo (THC 24%), Mosaic (THC
23%), Two Stars (THC 24.2%), Mash Kush (THC 24.4%) and Blend Kush
(THC 23.8%).
The new products were developed through breeding programs
carried out by Canonic in parallel to the release in 2021 of
Canonic's first-generation two products: G200 (THC 19%) & G150
(THC 18%). The second-generation products were developed using
proprietary sets of novel genetic markers developed in
collaboration with Evogene, using its GeneRator AI
tech-engine, specifically looking for a higher level of THCs and
particular terpene characteristics. The use of novel genetic
markers directed and accelerated the breeding process
towards the unique cannabis lines with desired characteristics,
based on market feedback. This made the entire product development
process faster and more accurate in achieving the right
characteristics in the designed variety.
Eyal Ronen, Chief Executive
Officer of Canonic, commented, "Utilizing Canonic's and
Evogene's advanced technologies for selecting novel genetic
markers, allowed us to accelerate & direct the development of
our advanced cannabis varieties. We are very proud to have
completed the launch of six new products in the Israeli market, and
we expect sales growth in 2023. Looking ahead, we will continue the
development of our third-generation products, particularly with
selecting new and unique terpenes. Furthermore, we intend to sell
our products to broader markets starting with Europe."
Canonic's new investor presentation is available from
Evogene's investor relations website at
https://evogene.com/investor-relations
About Canonic Ltd.:
Canonic is a subsidiary of Evogene Ltd. (Nasdaq: EVGN, TASE:
EVGN), developing medical cannabis products utilizing Evogene's
proprietary GeneRator AI engine. The Company's development
products aim to improve active compounds, genetic stability, and
cannabis varieties for specific medical effects. In addition,
the Company's strategy includes the development of cannabis
varieties to commercialize medical cannabis products independently
or through collaborations. Canonic has exclusive access to
Evogene's genomic assets and technology for the development of
medical cannabis products.
For more information, please
visit: https://www.canonicbio.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 technological engines -
MicroBoost AI, ChemPass AI, and GeneRator AI – leveraging
Big Data and Artificial Intelligence and incorporating a deep
multidisciplinary understanding of life sciences. Each
technological 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
technological engines to develop products through subsidiaries and
strategic partners. Evogene's main subsidiaries currently
utilize the technological engines to develop human microbiome-based
therapeutics by Biomica Ltd., medical cannabis products by Canonic
Ltd., ag-chemicals by AgPlenus Ltd., and ag-biologicals by Lavie
Bio Ltd.
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 "may", "could", "expects", "intends", "anticipates",
"plans", "believes", "scheduled", "estimates", "demonstrates", or
words of similar meaning. For example, Evogene and Canonic are
using forward-looking statements in this press release when they
discuss the sales growth in 2023, development of
third-generation products, sale to broader markets including
Europe. 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.
Investor
Contact:
|
Kenny Green
Email:
kenny.green@evogene.com
Tel: +1 212 378
8040
|
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SOURCE Canonic