Welcome to our dedicated page for Evogene news (Ticker: EVGN), a resource for investors and traders seeking the latest updates and insights on Evogene stock.
Evogene Ltd. reports developments as a computational chemistry company focused on generative design of small molecules for pharmaceutical and agricultural applications. Its recurring updates center on ChemPass AI™, a proprietary generative AI platform used to explore chemical space and optimize small-molecule candidates across multiple parameters.
Company news also covers financial results, strategic refocusing around ChemPass AI™, collaborations in drug discovery and ag-chemical development, and subsidiary activity. Reported subsidiary themes include Casterra's castor seed varieties and castor farming systems for bio-based industries, AgPlenus work on novel herbicides and fungicides, Biomica microbiome-based therapeutics, and Nasdaq listing-compliance matters for EVGN ordinary shares.
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Biomica Ltd., a subsidiary of Evogene Ltd. (Nasdaq: EVGN), has successfully closed a financing round totaling $20 million, aimed at advancing its microbiome-based therapeutics. The funding was primarily led by a $10 million investment from Shanghai Healthcare Capital, which now owns 20% of Biomica's shares. The funds will be allocated to complete the BMC128 phase 1 immuno-oncology study and initiate a phase 2 trial, as well as to scale up GMP production of BMC333 for an upcoming phase 1 clinical trial focused on inflammatory bowel disease (IBD). Biomica is dedicated to developing innovative therapeutics utilizing its MicroBoost AI technology, emphasizing treatments for antibiotic-resistant bacteria and gastrointestinal disorders.
Evogene Ltd. (Nasdaq: EVGN) has filed its Annual Report on Form 20-F for the fiscal year ending December 31, 2022, with the Securities and Exchange Commission. The report can be accessed on the company's investor relations website and the SEC's site. Evogene specializes in computational biology, utilizing big data and AI to innovate product development across life sciences. The firm operates three tech-engines: MicroBoost AI, ChemPass AI, and GeneRator AI, focusing on product development in microbes, small molecules, and genetic elements, respectively, through its five subsidiaries.
Lavie Bio, a subsidiary of Evogene (Nasdaq: EVGN), has appointed Amit Noam as Chief Executive Officer, effective April 16, 2023. Noam possesses significant experience in the agriculture and healthcare sectors, having previously served as COO of AgriTask and held roles at Teva Pharmaceuticals. He aims to enhance Lavie Bio's mission in improving food quality and sustainability through microbiome-based products powered by Evogene's AI tech. Ofer Haviv, Chairperson of Lavie Bio, expressed confidence in Noam's leadership for advancing manufacturing and sales of their bio-stimulant, Thrivus™, and for progressing their pipeline, including the anticipated LAV311 bio-fungicide launch in 2024.
Biomica Ltd., a clinical-stage biopharmaceutical company and subsidiary of Evogene (NASDAQ: EVGN), announced that Dr. Shiri Meshner, VP of R&D, will present at the Pharmabiotics 2023 Conference in Lyon, France, on March 21-22, 2023. Dr. Meshner's presentation, titled Biomica's BMC128 - a Rationally Designed LBP Consortium's Journey to the Clinic, will occur on March 21 at 3:40 PM CET. Biomica's proprietary BMC128, consisting of four live bacterial strains, showed significant tumor volume reduction and improved survival compared to anti-PD-1 therapy in preclinical studies. Currently, BMC128 is undergoing a Phase 1 trial (NCT05354102) in patients with non-small cell lung cancer, melanoma, and renal cell carcinoma.
Evogene Ltd. (NASDAQ: EVGN) announced its 2022 financial results, showing significant advancements in AI-driven product development through subsidiaries like Lavie Bio and Biomica. Fourth-quarter revenues surged to $660K from $311K year-on-year, contributing to a total annual revenue of $1.7M, up from $0.9M in 2021. The company's cash position remains strong at approximately $35M. However, operating losses decreased to $3.8M for Q4, down from $8.7M last year, with a full-year net loss of $29.8M, slightly improved from $30.4M in 2021. The company continues to foster strategic partnerships and aims for growth despite competitive market challenges.
Lavie Bio, a subsidiary of Evogene (Nasdaq: EVGN), announced its participation at the World Agri-Tech Conference in San Francisco on March 14-15, 2023. The company will host a roundtable discussion entitled 'Farm to Fork or Fork to Farm' on March 15, focusing on the sustainability value chain. Lavie Bio is also a sponsor of the conference, which attracts over 2,000 participants from the global ag-tech ecosystem. The company aims to enhance food quality and agricultural productivity through microbiome-based products, leveraging its MicroBoost AI tech-engine.