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.
Cautionary Statement on Forward-Looking
Statements
This release contains certain estimates and
forward-looking statements within the meaning of Section 21E of the
Securities Exchange Act of 1934, as amended, and Section 27A of the
Securities Act of 1933, as amended, which are intended to be
covered by the safe harbor provisions for forward-looking
statements contained in the Private Securities Litigation Reform
Act of 1995, and may be identified by their use of words like
"plans," "expects," "will," "anticipates," "believes," "intends,"
or other words of similar meaning. All statements that address
expectations or projections about the future, including statements
about each of the company's expectations related to regulatory
approvals, product development, product offerings and product,
financial or sustainability performance are forward-looking
statements. Each company disclaims and does not undertake any
obligation to update or revise any forward-looking statement,
except as required by applicable law. A detailed discussion of some
of the significant risks and uncertainties which may cause results
and events to differ materially from such forward-looking
statements or other estimates is included in the "Risk Factors"
section of each company's Annual Report on Form 10-K or 20-F, as
applicable, and as modified by subsequent reports on Form 10-Q and
Current Reports on Form 8-K or 6-K, as applicable.
Evogene Investors' Contact:
Rachel Pomerantz Gerber, Head of Investor
Relations at Evogene
Email: rachel.pomerantz@evogene.com
Tel: +972-8-9311901
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SOURCE Lavie Bio