Bayer AG and Lavie Bio Continue for Second Year of Biofungicides Validation Following Successful Lab and Greenhouse Testing

Rhea-AI Summary

Lavie Bio , a subsidiary of Evogene , extends joint validation trials with Bayer AG for its biofungicides after successful initial testing. The trials aim to address devastating diseases affecting fruits and vegetables globally, showcasing promising results. The collaboration highlights the potential of biofungicides in sustainable agriculture and signifies a significant step in open innovation strategies.

Market Research Analyst

The extension of joint validation trials between Lavie Bio Ltd. and Bayer AG represents a strategic move in the ag-biologicals sector, which is increasingly gaining attention due to the demand for sustainable farming solutions. The focus on biofungicides is particularly relevant given the global challenges in crop management and the push for environmental sustainability. This collaboration signifies a potential growth area for both companies and could lead to increased market share in the ag-biologicals domain, especially if field trials continue to yield positive results.

Investors should monitor the outcomes of these extended trials closely, as success could lead to commercialization and potentially significant revenue streams for both Lavie Bio and its parent company, Evogene. Moreover, the partnership with an industry giant like Bayer AG may provide Lavie Bio with a competitive edge in terms of distribution and credibility in the market. However, it is important to consider the regulatory hurdles and market acceptance that can affect the speed and scale of adoption.

Agricultural Biotechnology Expert

The efficacy of Lavie Bio's biofungicides against oomycetes, which are notorious for causing diseases in fruits and vegetables, is a key factor in the agricultural biotechnology landscape. The use of AI-driven platforms like Evogene's MicroBoost in developing these biofungicides could lead to more targeted and effective products, which is a significant advancement in the field. This technology-driven approach can also shorten product development cycles and improve adaptability to different pathogens and environmental conditions.

For stakeholders in the agricultural sector, including farmers and distributors, the development of these biofungicides could mean access to more effective tools for disease management, potentially leading to higher crop yields and reduced losses. However, the long-term impact on the ecosystem and the potential development of resistance in pathogens are factors that need to be monitored.

Sustainability Analyst

The role of biofungicides in promoting sustainable agricultural practices cannot be overstated. As the agricultural industry faces scrutiny over the environmental impact of traditional chemical pesticides, the development and successful trial of bio-based alternatives like those from Lavie Bio can play a pivotal role in the industry's transition to more eco-friendly practices. This aligns well with global sustainability goals and consumer preferences that are shifting towards 'greener' products.

It is essential, however, to evaluate the scalability of these solutions. While biofungicides are environmentally appealing, their cost-effectiveness and practicality at larger scales are critical for widespread adoption. The partnership's ability to address these concerns will be fundamental to the long-term success of these products in the market. Investors should consider the potential for regulatory incentives or subsidies for sustainable products, which could further enhance the marketability of Lavie Bio's offerings.

REHOVOT, Israel, March 19, 2024 /PRNewswire/ -- Lavie Bio Ltd., a leading ag-biologicals company that develops microbiome-based, computational-driven bio-stimulant and bio-pesticide novel products and a subsidiary of Evogene Ltd. (Nasdaq: EVGN) (TASE: EVGN), announced today that it is extending its joint validation trials for its biofungicides conducted by Bayer AG, a global leader in the agriculture industry, after successful first-year laboratory and greenhouse testing. The tests have demonstrated the efficacy of Lavie Bio's biofungicides in addressing devastating diseases that affect fruits and vegetables worldwide. Building on these positive outcomes, the companies are progressing to a second year of validation trials in field experiments.

"This is an important step in our open innovation strategy to bring new biological solutions to growers," said Benoit Hartmann, Head of Biologics at Bayer Crop Science. "Biofungicides are a real opportunity for innovation, and we are looking forward to the new solutions this partnership with Lavie Bio helps us deliver together."

"We are delighted with the consistently positive results we have observed in our experiments, which has led to the decision to extend the validation trials for another year in the field," said Amit Noam, CEO of Lavie Bio. "This not only highlights the immense business potential of our product and its meaningful impact on farmers worldwide but also reinforces our dedication to collaborative partnerships within the industry as we work together to deliver innovative solutions to the market."

The emergence of innovative ag biologicals, particularly biofungicides, provides a sustainable and responsible approach to disease management at a time when farmers are left with limited options to effectively address diseases that can pose a major threat to crop yield. These products demonstrate high efficacy in controlling oomycetes while minimizing environmental impact, thereby promoting sustainable agricultural practices.

Lavie Bio's commitment to refining its promising bio fungicides through joint validation trials with Bayer AG serves as a powerful testament to the company's development capabilities, leveraging its innovative BDD platform powered by Evogene's MicroBoost AI tech-engine.

About Lavie Bio Ltd.:

Lavie Bio, a subsidiary of Evogene Ltd., aims to improve food quality, sustainability, and agriculture productivity through the introduction of 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 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 deep multidisciplinary understanding in 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 with strategic partners. Currently, Evogene's main subsidiaries 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

Investor Relations Contact

Rachel Pomerantz Gerber I Head of Investor Relations at Evogene

rachel.pomerantz@evogene.com I Tel: +972-8-9311901

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" or words of similar meaning. For example, Lavie Bio and Evogene are using forward-looking statements in this press release when they discuss the efficacy of Lavie Bio's biofungicides in addressing diseases, the ability of Lavie Bio and Bayer to bring new biological solutions to growers, future results of the trials conducted by Lavie Bio and Bayer. Such statements are based on current expectations, estimates, projections, and assumptions, describe opinions about future events, 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, the current war between Israel and Hamas and any worsening of the situation in Israel such as further mobilizations or escalation in the northern border of Israel, and those risk factors contained in Evogene's reports filed with the applicable securities authorities. In addition, Evogene and its subsidiaries rely, and expect to continue to rely, on third parties to conduct certain activities, such as their field-trials and pre-clinical studies, and if these third parties do not successfully carry out their contractual duties, comply with regulatory requirements or meet expected deadlines, Evogene and its subsidiaries may experience significant delays in the conduct of their activities. 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.

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SOURCE Lavie Bio

What is the name of the leading ag-biologicals company extending joint validation trials with Bayer AG?

Lavie Bio

Which company is Lavie Bio a subsidiary of?

Evogene

What type of products does Lavie Bio develop?

Microbiome-based, computational-driven bio-stimulant and bio-pesticide novel products

What industry is Bayer AG a global leader in?

Agriculture industry

What is the ticker symbol for Evogene ?

EVGN