Business
Evogene Reports First Quarter 2023 Financial Results
Conference call and webcast: today, May 18, 2023, 9:00 am ET REHOVOT, Israel, May 18, 2023 /PRNewswire/ -- Evogene Ltd. (Nasdaq: EVGN) (TASE: EVGN), a leading
About this update from Evogene Ltd.
[{"type":"text","content":"Conference call and webcast: today, May 18, 2023, 9:00 am ET\nREHOVOT, Israel, May 18, 2023 /PRNewswire/ -- Evogene Ltd. (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 its financial results for the first quarter period ending March 31, 2023.\nMr. Ofer Haviv, Evogene's President and Chief Executive Officer, stated, \"We have started 2023 strongly and are pleased with our business progress to date. We made significant improvements in recent months in the infrastructure and computational architecture underlying our AI tech-engines, as well as improvements in our algorithmic capabilities, providing for better automation, scalability and speed. These improvements were applied primarily to tech-engines MicroBoost AI, supporting the discovery and development of microbe-based products, and ChemPass AI, supporting small-molecule-based products. Additionally, our subsidiaries have consistently achieved their milestones and are progressing according to plan. We are very proud of their progress, which reflects their growing inherent value.\"\nSubsidiaries and Divisions overview – recent achievements and near-term targets\nBiomica develops microbiome-based therapeutics, leveraging Evogene's MicroBoost AI tech-engine.\nBiomica achieved a significant milestone in April by closing a $20 million investment round. This round, led by Shanghai Healthcare Capital (\"SHC\"), a prominent Chinese private equity fund, valued Biomica at $50 million post-money. The successful investment serves as an external and independent validation of Biomica's long-term potential.BMC128, the immuno-oncology program, is currently undergoing a phase-I clinical trial for its drug candidate. The trial is on track, and results are expected later this year.BMC333, the IBD (inflammatory bowel disease) program, has completed the pre-clinical phase. Biomica has plans to progress to a phase-1 clinical trial in the United States in 2024 and is currently scaling up manufacturing.BMC426, the IBS (irritable bowel syndrome) program, is progressing well in the pre-clinical phase.Lavie Bio develops and commercializes microbiome-based ag-biological products, utilizing Evogene's Micro...