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.
Canonic, a subsidiary of Evogene (NASDAQ: EVGN), has received IMC-GAP approval from the Israel Medical Cannabis Agency for its propagation farm. This approval enables Canonic to launch its commercialization plan for medical cannabis products. The farm is operational and set to provide seedlings to certified growers in 2021. Canonic aims to establish a value chain from genomics to end-product, leveraging Evogene's genomic assets. The company plans to achieve initial sales in Israel by 2022.
Evogene Ltd. (NASDAQ: EVGN) has successfully completed a registered direct offering, raising approximately $12 million. The offering consists of 3.92 million ordinary shares priced at $2.50 each and 883,534 pre-funded warrants at $2.49 each, with an exercise price of $0.01. Cantor Fitzgerald & Co. served as the placement agent. This capital is expected to aid in advancing Evogene's computational biology platform, which focuses on product discovery in health and agriculture sectors. The offering was conducted under a previously declared effective shelf registration statement.
Evogene Ltd. (NASDAQ: EVGN) will release its financial results for Q3 2020 on November 18, 2020, with a conference call hosted by management at 9:00 AM ET. Dr. Elran Haber, CEO of Biomica Ltd., will discuss the subsidiary's activities. The conference call will be accessible via phone and live webcast. A replay will be available shortly after the call until November 20, 2020. Evogene focuses on computational biology to advance product development in human health and agriculture through its Computational Predictive Biology platform.
Evogene Ltd. (NASDAQ: EVGN) announced a registered direct offering of 3.92 million ordinary shares at $2.50 each and 883,534 pre-funded warrants at $2.49 each, with an exercise price of $0.01. The offering is expected to raise approximately $12 million, aimed at advancing product pipelines and enhancing its computational predictive biology platform. The expected closing date is on or before November 3, 2020. Cantor Fitzgerald & Co. serves as the placement agent for this offering.
Lavie Bio, a subsidiary of Evogene (NASDAQ: EVGN), reported positive trial results for its bio-fungicide products LAV311 and LAV312, aimed at combating bunch rot diseases. Conducted in vineyards across Europe and the U.S., trials demonstrated a 60-70% reduction in crop damage compared to control groups. The products advance to 'Development Stage 2', supporting plans for a 2024 launch. This development responds to the rising demand for agricultural sustainability amid increased resistance to chemical fungicides, with the biological pest control market growing significantly.
Biomica, a subsidiary of Evogene Ltd. (NASDAQ: EVGN), has announced the advancement to large-scale production of its Live Bacterial Product candidate, BMC128. Following successful R&D, Biomica is preparing for first-in-man clinical trials in 2021. BMC128, a consortium of four bacterial strains, showed efficacy in enhancing immune-checkpoint inhibitors' effects during preclinical studies. The production will be managed by Biose Industrie, a GMP-certified manufacturer, marking a significant milestone for Biomica's immuno-oncology program.
Biomica Ltd., a subsidiary of Evogene Ltd. (NASDAQ: EVGN), will present at the H.C. Wainwright 22nd Annual Global Investment Conference from September 14-16, 2020. CEO Dr. Elran Haber will provide a business overview on September 16 at 12:30 PM EDT and engage in one-on-one meetings with institutional investors. Biomica focuses on microbiome-based therapeutics for antibiotic resistance, immuno-oncology, and gastrointestinal disorders, utilizing its Computational Predictive Biology platform. This participation aims to enhance investor engagement and showcase Biomica's innovations.
Evogene Ltd. (NASDAQ: EVGN) announced its participation in the H.C. Wainwright 22nd Annual Global Investment Conference from September 14-16, 2020. Ofer Haviv, President & CEO, will present a company overview on September 16 at 12:00 PM (EDT) and will be available for one-on-one meetings with institutional investors. Evogene leverages its Computational Predictive Biology (CPB) platform to enhance product discovery across multiple life-science sectors, including human health and agriculture. This participation underscores its commitment to engaging with investors.
Biomica Ltd., a subsidiary of Evogene (NASDAQ: EVGN), announced positive pre-clinical in-vivo results for its immuno-oncology program. The study reported that BMC128, a combination of four bacterial strains, significantly improved anti-tumor activity in mice when combined with immune checkpoint inhibitors (ICI). These results suggest that the gut microbiome enhances the efficacy of cancer therapies. Biomica is preparing for first-in-man clinical trials in 2021, following additional pre-clinical studies.
Evogene Ltd. (NASDAQ: EVGN) has entered into a definitive agreement for a registered direct offering of ordinary shares at $1.70 each, totaling $10 million. ARK Investment Management will contribute $7 million, while Alpha Capital Anstalt will invest $3 million. The funds will be used to enhance product pipelines, expand their computational biology platform, and for general corporate purposes. The offering is expected to close by September 3, 2020, pending customary conditions. This offering follows a shelf registration statement declared effective by the SEC on August 10, 2020.