Business
Evogene Reports Fourth Quarter and Full Year 2022 Financial Results
Conference call and webcast: today, March 9, 2023, 9:00 am ET REHOVOT, Israel, March 9, 2023 /PRNewswire/ -- Evogene Ltd. (NASDAQ: EVGN) (TASE: EVGN), a
About this update from Evogene Ltd.
[{"type":"text","content":"Conference call and webcast: today, March 9, 2023, 9:00 am ET\nREHOVOT, Israel, March 9, 2023 /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, today announced its financial results for the fourth quarter and full year period ending December 31, 2022.\nMr. Ofer Haviv, Evogene's President and Chief Executive Officer, stated, \"We are very proud of the achievements made by Evogene and its subsidiaries in the past year. Throughout 2022, we made progress and have advanced the artificial-intelligence technology underlying our tech engines which are MicroBoost AI supporting the discovery and development of microbe-based products, ChemPass AI supporting small-molecule based products and GeneRator AI supporting products based on modifying genetic elements.\"\n\"Lavie Bio, our subsidiary focused on developing and commercializing microbiome-based ag-biological products, leveraging Evogene's MicroBoost AI tech-engine, has not only seen progress in 2022, but also received external validation of its value, via a $10 million SAFE investment and strategic collaboration with ICL, a leading global specialty mineral and ag-tech company. In spring 2022, Lavie Bio saw initial sales and revenue from ThrivusTM, our inoculant product for spring wheat, which is a combination of bacterial strains which improve nutrient availability and uptake, improving plant health and we expect sales to be significantly expanded in the 2023 spring season. Furthermore, Lavie Bio's product development pipeline continues to advance. Throughout 2022, we conducted a number of successful field trials for our bio-fungicide products with positive results and in October 2022, we submitted the registration to the U.S. Environmental Protection Agency for our novel bio-fungicide LAV311 product, targeting fruit rots and mildews, which is a final step prior to the commercialization of LAV311 in the US.\"\n\"Another external validation to the value contained within our subsidiaries and now becoming more apparent is through an investment in Biomica, our subsidiary developing microbiome-based therapeutics for the treatment of immune-mediated and infectious diseases, le...