Business
Evogene Announces Completion of Transaction for the Sale of Lavie Bio's Activity to ICL
Evogene Ltd. (NASDAQ: EVGN) (TASE: EVGN), a leading computational biology company utilizing cutting-edge artificial intelligence and predictive biology to drive innovation in life-science product development, today announced the successful completion and closing of the previously disclosed transaction involving the divestiture of the majority of the activities and assets of its ag-biologicals subsidiary, Lavie Bio Ltd., to ICL Group Ltd. (NYSE: ICL) (TASE: ICL). As part of the transaction, Evoge
About this update from Icl Group Ltd.
[{"type":"text","content":"REHOVOT, Israel, July 8, 2025 /PRNewswire/ -- Evogene Ltd. (NASDAQ: EVGN) (TASE: EVGN), a leading computational biology company utilizing cutting-edge artificial intelligence and predictive biology to drive innovation in life-science product development, today announced the successful completion and closing of the previously disclosed transaction involving the divestiture of the majority of the activities and assets of its ag-biologicals subsidiary, Lavie Bio Ltd., to ICL Group Ltd. (NYSE: ICL) (TASE: ICL). As part of the transaction, Evogene has also transferred to ICL its proprietary MicroBoost AI for AG platform, which is used to accelerate microbial product development in the agriculture sector.","length":713,"tagName":"p"},{"type":"image","alt":"Evogene_Logo","displaySize":"","headline":null,"caption":"Evogene_Logo","className":"","disableSlideshowImg":false,"size":{"original":{"width":400,"height":230,"url":"https://media.zenfs.com/en/prnewswire.com/1a77353fc37db2ed5b8a4b3f7afbffbc"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/1EbKT9twNzyPVwlm3gHt9w--/YXBwaWQ9aGlnaGxhbmRlcjt3PTcwNTtoPTQwNTtjZj13ZWJw/https://media.zenfs.com/en/prnewswire.com/1a77353fc37db2ed5b8a4b3f7afbffbc","width":400,"height":230}}},{"type":"text","content":"Pursuant to the definitive agreement originally announced on April 21, 2025, ICL has acquired Lavie Bio's proprietary Biology Driven Design (BDD) technology platform, microbial bank, pipeline of advanced development programs, and current commercial product offerings. In addition, Lavie Bio's core personnel will transfer to ICL. Concurrently, Evogene has divested its MicroBoost AI Tech-Engine for Agriculture, a computational engine designed to optimize microbial discovery and development through artificial intelligence, for additional consideration.","length":562,"tagName":"p"},{"type":"text","content":"It is important to note that Lavie Bio's existing strategic partnerships and commercial agreements are not part of this transaction and will remain under Lavie Bio's ownership. These agreements may yield future revenues for the benefit of Lavie Bio's shareholders.","length":281,"tagName":"p"},{"type":"text","content":"Ofer Haviv, Chief Executive Officer of Evogene, stated: "The successful completion of this transaction with ICL, a global leader in agricultural...