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Evogene Announces Collaboration with Google Cloud to Pioneer Generative AI Foundation Model for Novel Small Molecule Design
https://finance.yahoo.com/news/evogene-announces-collaboration-google-cloud-120000529.html
The collaboration has the power to foster breakthroughs in small molecule innovation for life science-based products
REHOVOT, Israel, Oct. 31, 2024 /PRNewswire/ -- Evogene Ltd. (NASDAQ: EVGN) (TASE: EVGN), a leading computational biology company aiming to revolutionize life-science-based product discovery and development, today announced a collaboration with Google Cloud to develop a cutting-edge foundation model for generative small molecule de novo design, propelling Evogene's ChemPass AI tech-engine to new levels of innovation. ChemPass AI is a computational technology platform that directs and accelerates the discovery and development of novel products based on small molecules. This groundbreaking initiative seeks to advance the discovery and development of novel small molecules for drug development, sustainable crop protection, and other innovative products across a wide range of life-science industries.
Evogene will leverage Google Cloud's Vertex AI, GPUs on Google Compute Engine, and Google Cloud Storage to provide the immense computational power and storage capacity required to create this innovative AI foundation model. This foundation model is being trained on a dataset of ~40 billion molecular structures and will serve as a powerful tool for generating and evaluating new potential candidates for breakthrough life science-based products, with unprecedented speed and accuracy.
The collaboration leverages Evogene's deep expertise in computational predictive biology and Google Cloud's leadership in AI and machine learning. This joint effort follows the successful integration of ChemPass AI into Google Cloud and will now focus on expanding the tech-engine's value through the creation of a state-of-the-art foundation model capable of generating and optimizing novel small molecule structures with desired properties.
This transformative technology has the potential to greatly expedite the drug discovery process, reduce costs, and increase the success rate of identifying promising drug candidates. In the agricultural sector, the foundation model will enable the development of innovative and sustainable solutions to address global challenges such as food security, crop protection, and resource optimization.
Beyond pharmaceuticals and agriculture, the foundation model's capabilities have the potential to extend to various other industries. The ability to generate and optimize small molecules with specific properties opens a world of possibilities for creating innovative and sustainable solutions across diverse sectors.
Ofer Haviv, Evogene's President and CEO stated: "This strategic collaboration underscores Evogene's commitment to innovation and its position at the forefront of computational predictive biology, utilizing our AI tech-engines. We are proud to be collaborating with Google Cloud, a recognized leader in cloud computing, accelerating our growth trajectory and delivering significant value to our shareholders and partners."
Boaz Maoz, Managing Director, Google Cloud Israel stated: "Google Cloud is committed to providing the industry's most open cloud and helping customers accelerate their digital transformations. By harnessing the power of Google Cloud, Evogene's ChemPass AI has the potential to revolutionize small molecule design. We look forward to the breakthroughs Evogene will achieve."
The collaboration also presents an attractive opportunity for potential pharma and ag-industry partners seeking to leverage the power of ChemPass AI's generative small molecule discovery capabilities. Evogene's proven track record in computational biology, combined with Google Cloud's AI expertise, creates a compelling proposition for companies looking to accelerate their R&D efforts and gain a competitive edge.
About Evogene Ltd.
Evogene Ltd. (Nasdaq: EVGN) (TASE: EVGN) is a computational biology company leveraging big data and artificial intelligence, 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. 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 strategic partnerships and collaborations, and its four subsidiaries including:
Biomica Ltd. (www.biomicamed.com) developing and advancing novel microbiome-based therapeutics to treat human disorders powered by MicroBoost AI;
Lavie Bio Ltd. (www.lavie-bio.com) - developing and commercially advancing, microbiome based ag-biologicals powered by MicroBoost AI;
AgPlenus Ltd. (www.agplenus.com) -developing next generation ag chemicals for effective and sustainable crop protection powered by ChemPass AI; and
Casterra Ag Ltd. (www.casterra.co)– developing and marketing superior castor seed varieties producing high yield and high-grade oil content, on an industrial scale for the biofuel and other industries powered by GeneRator AI.
For more information, please visit: www.evogene.com.
Evogene Announces Collaboration with Google Cloud to Pioneer Generative AI Foundation Model for Novel Small Molecule Design
https://finance.yahoo.com/news/evogene-announces-collaboration-google-cloud-120000529.html
The collaboration has the power to foster breakthroughs in small molecule innovation for life science-based products
REHOVOT, Israel, Oct. 31, 2024 /PRNewswire/ -- Evogene Ltd. (NASDAQ: EVGN) (TASE: EVGN), a leading computational biology company aiming to revolutionize life-science-based product discovery and development, today announced a collaboration with Google Cloud to develop a cutting-edge foundation model for generative small molecule de novo design, propelling Evogene's ChemPass AI tech-engine to new levels of innovation. ChemPass AI is a computational technology platform that directs and accelerates the discovery and development of novel products based on small molecules. This groundbreaking initiative seeks to advance the discovery and development of novel small molecules for drug development, sustainable crop protection, and other innovative products across a wide range of life-science industries.
Evogene will leverage Google Cloud's Vertex AI, GPUs on Google Compute Engine, and Google Cloud Storage to provide the immense computational power and storage capacity required to create this innovative AI foundation model. This foundation model is being trained on a dataset of ~40 billion molecular structures and will serve as a powerful tool for generating and evaluating new potential candidates for breakthrough life science-based products, with unprecedented speed and accuracy.
The collaboration leverages Evogene's deep expertise in computational predictive biology and Google Cloud's leadership in AI and machine learning. This joint effort follows the successful integration of ChemPass AI into Google Cloud and will now focus on expanding the tech-engine's value through the creation of a state-of-the-art foundation model capable of generating and optimizing novel small molecule structures with desired properties.
This transformative technology has the potential to greatly expedite the drug discovery process, reduce costs, and increase the success rate of identifying promising drug candidates. In the agricultural sector, the foundation model will enable the development of innovative and sustainable solutions to address global challenges such as food security, crop protection, and resource optimization.
Beyond pharmaceuticals and agriculture, the foundation model's capabilities have the potential to extend to various other industries. The ability to generate and optimize small molecules with specific properties opens a world of possibilities for creating innovative and sustainable solutions across diverse sectors.
Ofer Haviv, Evogene's President and CEO stated: "This strategic collaboration underscores Evogene's commitment to innovation and its position at the forefront of computational predictive biology, utilizing our AI tech-engines. We are proud to be collaborating with Google Cloud, a recognized leader in cloud computing, accelerating our growth trajectory and delivering significant value to our shareholders and partners."
Boaz Maoz, Managing Director, Google Cloud Israel stated: "Google Cloud is committed to providing the industry's most open cloud and helping customers accelerate their digital transformations. By harnessing the power of Google Cloud, Evogene's ChemPass AI has the potential to revolutionize small molecule design. We look forward to the breakthroughs Evogene will achieve."
The collaboration also presents an attractive opportunity for potential pharma and ag-industry partners seeking to leverage the power of ChemPass AI's generative small molecule discovery capabilities. Evogene's proven track record in computational biology, combined with Google Cloud's AI expertise, creates a compelling proposition for companies looking to accelerate their R&D efforts and gain a competitive edge.
About Evogene Ltd.
Evogene Ltd. (Nasdaq: EVGN) (TASE: EVGN) is a computational biology company leveraging big data and artificial intelligence, 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. 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 strategic partnerships and collaborations, and its four subsidiaries including:
Biomica Ltd. (www.biomicamed.com) developing and advancing novel microbiome-based therapeutics to treat human disorders powered by MicroBoost AI;
Lavie Bio Ltd. (www.lavie-bio.com) - developing and commercially advancing, microbiome based ag-biologicals powered by MicroBoost AI;
AgPlenus Ltd. (www.agplenus.com) -developing next generation ag chemicals for effective and sustainable crop protection powered by ChemPass AI; and
Casterra Ag Ltd. (www.casterra.co)– developing and marketing superior castor seed varieties producing high yield and high-grade oil content, on an industrial scale for the biofuel and other industries powered by GeneRator AI.
For more information, please visit: www.evogene.com.
EVGN..............................................https://stockcharts.com/h-sc/ui?s=EVGN&p=W&b=5&g=0&id=p86431144783
Still under $4 maybe it holds $3
Casterra Announces a Key Milestone in its Operational Expansion Plan in Africa, with Completion of First Shipment of Castor Seeds Grown and Processed in Kenya
https://finance.yahoo.com/news/casterra-announces-key-milestone-operational-120000095.html
The shipment, comprising over 100 tons, was delivered to company's customer in Africa
REHOVOT, Israel, Oct. 29, 2024 /PRNewswire/ -- Casterra Ag Ltd. ("Casterra"), an integrated castor cultivation solution company for oil production for bio-based products and biofuel, and a subsidiary of Evogene Ltd. ("Evogene") (Nasdaq: EVGN) (TASE: EVGN), today announced a key milestone in its operational expansion plan in Africa with the delivery of its first shipment of over 100 tons of castor seeds to its customer in Africa, seeds that were cultivated at several sites in Kenya and processed in a seed production facility near Naivasha, Kenya. The production facility started operating in August 2024 as part of Casterra's expansive operational infrastructure in Kenya.
This shipment of castor seeds, developed by Casterra and produced in Kenya, is the first to complete the entire cultivation and processing cycle in Kenya. The company is now focused on preparing upcoming shipments, which will be delivered to its customers over the coming months. Currently, approximately 700 additional hectares are sown with Casterra's premium varieties in Kenya, with harvest expected later this year and into early 2025.
The castor seeds in this shipment were cultivated by experienced local growers, and following harvest underwent an industrial-scale processing phase, which included dehulling, cleaning, sorting and packaging. Casterra's professional team oversaw and managed the entire cultivation and seed processing cycle, ensuring adherence to protocols and quality control standards.
Casterra's seed production operation in Kenya provides the company with a commercial advantage as it allows supply in geographic proximity to its customers in Africa, saving time and money on shipping costs while also supporting the local economy and agricultural practices.
Casterra's castor varieties were developed using Evogene's GeneRator AI tech-engine and undergo rigorous testing to meet industry standards. The company is actively working to develop new castor seed varieties that will demonstrate improved performance over existing ones.
Mr. Yoash Zohar, Casterra's CEO stated: "Over the past year Casterra invested significant efforts in solidifying its operational infrastructure in Africa, to ensure a stable supply of castor seeds to our customers in this region. We are satisfied with the collaborations with local growers in Kenya and with the dedication of our team members who support Casterra's seed cultivation and production activities in Kenya. We were excited to witness the first shipment leaving the seed production facility near Naivasha on its way to our customer in Africa. I am pleased to note that the company has taken yet another important step toward becoming a leading global supplier of castor seeds for oil production for bio-based products and biofuel."
About Casterra Ag Ltd.:
Casterra is engaged in developing and commercializing high-yielding castor bean seeds as a cost-competitive, sustainable, second-generation feedstock for the growing biofuel market. It has built its castor genetic assets based on a broad collection of over 300 castor lines from over 40 different geographic and climatic regions. As part of its development process, Casterra applies advanced breeding methods utilizing Evogene's GeneRator AI tech-engine, enabling the use of cutting-edge plant genomics tools and agro-technique expertise to enable efficient and sustainable industrial-scale production of the castor bean.
For additional information, please visit Casterra's website at: www.casterra.co
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 and castor varieties, for biofuel and other industries, by Casterra.
For more information, please visit: www.evogene.com.
Casterra Announces the Completion of a Successful Castor Seed Growing and Harvesting Season in Brazil
https://finance.yahoo.com/news/casterra-announces-completion-successful-castor-110000109.html
Castor seeds from Brazil will be ready for shipment during third quarter of 2024. Castor harvest season in Africa started as planned.
REHOVOT, Israel, July 31, 2024 /PRNewswire/ -- Casterra Ag Ltd., a subsidiary of Evogene Ltd. (Nasdaq: EVGN) (TASE: EVGN), and a provider of an integrated solution for industrial-scale cultivation of castor, based on its elite castor seed varieties, developed for bio-based industries including biopolymers & biofuels, is pleased to announce the successful completion of its current castor growing and harvesting season in Brazil. The seeds are planned to be shipped during the third quarter of this year. In addition, the castor harvesting season in Africa, which is expected to supply the majority of seeds for 2024, has started as planned. As noted in previous announcements, the castor seeds produced in 2024 in both Brazilan and African territories, are expected to allow Casterra to meet all its existing orders, amounting to ~$8.4M.
Mr. Yoash Zohar, CEO of Casterra states: "Current castor yields from the harvest in Brazil show an impressive improvement in our production capabilities. I am very proud of our professional team, which in past months invested, and keeps investing, time and efforts working closely with our subcontractors to ensure the best agricultural practices and crop performance, to produce Casterra's high quality castor seeds. We also expect to see such positive performance in our African territories where the majority of our seed production is taking place."
Casterra is at the forefront of the industrialization of castor, with unique elite varieties (high oil yield, compact and short cycle plants), global span seed production operation (Africa and Brazil), and growing protocols for efficient large-scale castor farming, well-positioned to lead industrialized castor farming.
About Casterra Ag Ltd.:
Casterra, a wholly owned subsidiary of Evogene, is an integrated solutions company for growing castor plants, based on its elite castor seed varieties, for bio-based industrial applications, such as biofuels & biopolymers. It has built its castor genetic assets based on a broad collection of over 300 castor lines from 40 different geographic and climatic regions. As part of its development process, Casterra applies advanced breeding methods utilizing Evogene's GeneRator AI tech-engine, enabling cutting-edge plant genomics tools and agro-technique expertise to enable efficient and sustainable industrial-scale production of the castor bean.
For more information, please visit http://www.casterra.co
Evogene Announces Expected Implementation of 1-for-10 Reverse Share Split
https://finance.yahoo.com/news/evogene-announces-expected-implementation-1-124800550.html
Following the reverse share split, the Company will have approximately 5,079,000 Ordinary Shares issued and outstanding
REHOVOT, Israel, July 23, 2024 /PRNewswire/ -- Evogene Ltd. (Nasdaq: EVGN) (TASE: EVGN) (the "Company" or "Evogene"), a leading computational biology company targeting to revolutionize life-science-based product discovery and development utilizing cutting edge computational biology technologies, across multiple market segments, announced today that a reverse share split of its issued and outstanding Ordinary Shares, at a ratio of 1-for-10, is expected to be implemented after market close on July 24, 2024. The Company's Ordinary Shares will begin trading on the Nasdaq Capital Market on a post-reverse split basis at the market open on July 25, 2024, and on the Tel Aviv Stock Exchange at the market open on July 28, 2024, in each case under the Company's existing trading symbol "EVGN".
The reverse share split was approved by the Company's shareholders at the Company's Annual Meeting of Shareholders held on June 13, 2024, to be effected at the board of directors' discretion within approved parameters.
Following the implementation of the reverse split, the Company's registered share capital under the Company's amended and restated articles of association, as currently in effect (the "Articles"), which as of the date hereof consists of NIS 3,000,000 divided into 150,000,000 Ordinary Shares of NIS 0.02 par value each, will be adjusted to consist of NIS 3,000,000 divided into 15,000,000 Ordinary Shares of NIS 0.2 par value each. The reverse split will adjust the number of issued and outstanding Ordinary Shares of the Company from approximately 50,790,000 Ordinary Shares to approximately 5,079,000 Ordinary Shares (subject to any further adjustments based on the treatment of fractional shares).
No fractional Ordinary Shares will be issued as a result of the reverse split. In accordance with the Company's Articles, all fractional shares shall be rounded to the nearest whole ordinary share, such that only shareholders holding fractional consolidated shares of more than half of the number of shares which consolidation constitutes one whole share, shall be entitled to receive one consolidated share. No cash will be paid with respect to any fractional shares. In addition, proportionate adjustments will be made to the number of shares issuable upon the exercise of all outstanding options entitling the holders to purchase Ordinary Shares (with a reciprocal increase in the per share exercise price) and to the number of Ordinary Shares underlying outstanding Restricted Share Units (RSUs).
ICL and Lavie Bio Leverage Artificial Intelligence to Make Significant Advancement in Development of Yield Increasing Bio-Stimulants
https://finance.yahoo.com/news/icl-lavie-bio-leverage-artificial-120000358.html
More than one dozen novel microbes identified for row crops suffering from extreme weather conditions
TEL AVIV and REHOVOT, Israel, July 17, 2024 /PRNewswire/ -- ICL (NYSE: ICL) (TASE: ICL), a leading global specialty minerals company, and Lavie Bio Ltd., a leading ag-biologicals company and subsidiary of Evogene Ltd. (Nasdaq: EVGN) (TASE: EVGN), today announced a significant milestone in their collaboration to develop bio-stimulant solutions for key row crops facing various abiotic stresses. By leveraging artificial intelligence (AI), Lavie Bio has computationally identified more than a dozen novel microbial candidates believed to have commercial viability as bio-stimulants for crops grown under extreme weather conditions, including drought. While this process can normally take several years, the collaboration achieved success within its first 12 months – thanks to Lavie Bio's proprietary Biology Driven Design (BDD) technology platform.
The ambitious AI-driven program, jointly developed by ICL and Lavie Bio, has identified novel microbe-based biological solutions that, when combined with fertilizers, are expected to be a game changer in overcoming various abiotic stresses under different weather conditions. By focusing on bio-stimulants that enhance crop resilience to such conditions, the collaboration has aimed to deliver tangible benefits to farmers, including a 5% to 10% increase in yield, on average.
As part of this AI-driven achievement, more than a dozen novel microbe candidates, which met the product requirements for efficacy, stability, shelf life and fertilizer compatibility, were computationally identified and verified in multiple greenhouse trials. The microbes were discovered and validated using Lavie Bio's BDD technology platform, powered by Evogene's MicroBoost AI tech-engine, and achieved a remarkable prediction rate from computer modelling to greenhouse validation – a rate ten times higher than the industry standard, according to company estimates.
This success paves the way for field trials in both the U.S. and Brazil in the second half of 2024, with results available by year-end. Lavie Bio will continue to leverage AI to drive product development and optimization, while ICL will guide the development and lead the way to product commercialization. The parties aim to start the regulatory process in 2026, just three years from program initiation.
"We are pleased to collaborate with Lavie Bio in the search for a novel solution to address a significant and proven market need in regions strategic to ICL," said Dr. Elinor Erez, vice president of R&D for ICL Growing Solutions. "This partnership exemplifies our commitment to pioneering advanced and unique biostimulant solutions for our customers, which aligns with our strategic vision to lead in agricultural innovation and sustainability and ensuring food security. The discovery process yielded candidate microbes that were validated in the green house, thanks to Lavie Bio's exceptional capabilities and their structured and efficient discovery platform. We are excited to move forward to field trials and are confident any future novel product will revolutionize how the agricultural community approaches plant resilience and productivity."
"We are very proud of the collaborations' significant progress, which was achieved by leveraging artificial intelligence to drive rapid advancements in our research," said Amit Noam, CEO of Lavie Bio. "Using ICL's deep agricultural expertise has been essential in focusing Lavie Bio's discovery efforts and has enabled us to advance to field trials in multiple target geographies quickly. Our team did a remarkable job of pushing our discovery process and platform to new heights, continuously improving computational accuracy and reducing both the time and cost to market for our novel products."
Recent research underscores the economic impact of climate change on global row crops, with extreme weather events, like droughts and floods, potentially causing billions in annual losses. Reports from the World Economic Forum and World Meteorological Organization highlight the rising costs, noting that extreme weather and climate-related disasters resulted in $4.3 trillion in losses from 1970 to 2021.[1][2][3] The agricultural sector urges the adoption of resilient strategies, technological innovations, and policy interventions to safeguard food security and mitigate economic vulnerabilities.
About ICL
ICL Group is a leading global specialty minerals company, which creates impactful solutions for humanity's sustainability challenges in the food, agriculture and industrial markets. ICL leverages its unique bromine, potash and phosphate resources, its global professional workforce, and its sustainability focused R&D and technological innovation capabilities, to drive the company's growth across its end markets. ICL shares are dual listed on the New York Stock Exchange and the Tel Aviv Stock Exchange (NYSE and TASE: ICL). The company employs more than 12,000 people worldwide, and its 2023 revenues totaled approximately $7.5 billion.
For more information, visit ICL's website at icl-group.com.
To access ICL's interactive CSR report, visit icl-group-sustainability.com.
looks good
Biomica Presents Positive Clinical Data Update from Ongoing Phase 1 Trial of Microbiome-Based Therapeutic, BMC128, for Refractory RCC, NSCLC & Melanoma
https://finance.yahoo.com/news/biomica-presents-positive-clinical-data-150000267.html
Preliminary Phase 1 results show promising trends for BMC128 in combination with nivolumab in refractory cancer patients. Data will be showcased at the 2024 American Society of Clinical Oncology (ASCO) annual meeting.
REHOVOT, Israel, May 23, 2024 /PRNewswire/ -- Biomica Ltd., a clinical-stage biopharmaceutical company developing innovative microbiome-based therapeutics and a subsidiary of Evogene Ltd. (Nasdaq: EVGN) (TASE: EVGN), today announced encouraging initial findings from an ongoing Phase 1 clinical trial. In the study, Biomica is investigating the safety and tolerability of its microbiome-based immuno-oncology candidate, BMC128, in combination with nivolumab, an anti-PD1 immune checkpoint inhibitor, in patients with non-small cell lung cancer (NSCLC), melanoma, or renal cell carcinoma (RCC).
All trial participants, 11 patients, had experienced disease progression in prior immunotherapy treatment before joining the trial. These preliminary findings represent some of the initial positive evidence emerging from the burgeoning field of clinical research on cancer therapies leveraging gut microbiota. While these results are preliminary and subject to further validation, they suggest potential benefits for patients facing advanced stages of these malignancies.
ASCO 2024 Presentation Details:
Title: Preliminary results from a First-in-Human (FIH), open-label Phase 1 study with BMC128, a rationally designed live bacterial consortium, in combination with nivolumab.
Session Type: Poster Session
Abstract Number: 8631
Date and Time: June 3, 2024, 1:30 PM – 4:30 PM (CDT)
Key observations from the study include:
Safety Profile: As of the data cutoff date, the safety profile of BMC128 has been exceptional, with no major safety events potentially associated with BMC128 reported during the course of BMC128 monotherapy or combination treatment, indicating a favorable safety profile for the investigational therapy.
Clinical Responses: As of the data cutoff date, among the patients included in the study, 72% of refractory cases exhibited positive clinical signals, indicating a potential efficacy for the BMC128 and nivolumab combination.
Response Rates: As of the data cutoff date, one patient demonstrated partial response (PR) upon imaging and RECIST v1.1 assessment and remains actively responding to treatment. Additionally, 64% of patients' disease stopped progressing following the combination treatment, and they displayed stable disease (SD) and sustained benefits beyond the first imaging assessment, suggesting additional important potential clinical benefit.
Durability of Response: As of the data cutoff date, 55% of patients showed sustained clinical benefit, with notable durations of response of over 16 weeks and with one patient exceeding 80 weeks.
Cross-Cancer Effectiveness: 100% of RCC patients and 60% of NSCLC patients in the study demonstrated positive clinical outcomes, indicating potential efficacy across different cancer types.
With these encouraging early results, it is important to note that the study remains ongoing. Further data will become available and analyzed through the next few months to gain a deeper understanding of the therapeutic potential of BMC128 in combination with nivolumab in cancer treatment.
Prof. Gal Markel, Director of the Davidoff Cancer Center, Rabin Medical Center and Biomica's Scientific Advisory Board member, said: "The positive trends emerging from the ongoing Phase 1 trial of BMC128, particularly in combination with nivolumab, underscore the transformative potential of microbiome-based therapeutics in oncology. These findings bring hope to patients contending with refractory RCC, NSCLC, and melanoma, envisioning a future where innovative treatments like BMC128 could provide meaningful solutions to longstanding challenges in cancer care. Additionally, the observed cross-cancer effectiveness hints at BMC128's broad applicability across different cancer types, further solidifying its significance in the field of oncology. The demonstrated safety profile thus far, alongside the encouraging clinical benefits including response rate and notable durability, accentuates the potential efficacy of BMC128 in addressing the unmet needs of patients grappling with these malignancies. These initial results mark a significant advancement, reflecting our steadfast commitment to pioneering innovative solutions that address critical unmet needs in oncology."
Dr. Elran Haber, Biomica CEO, stated, "The preliminary results from this Phase 1 study show positive evidence of BMC128's superior safety profile and potential efficacy when combined with anti-PD1 checkpoint inhibitor immunotherapy. This suggests potential benefits for patients with refractory NSCLC, melanoma, or RCC who have not responded to, or developed resistance to previous immunotherapy treatments. We believe BMC128 has the promise to be a potential therapy for patients fighting cancer, and we look forward to continuing to evaluate BMC128's beneficial activity in subsequent phases of clinical development. Furthermore, these results underscore the strength of Biomica's computational platform for microbiome drug discovery, developed with Evogene, validating our approach to innovative therapeutic solutions."
Additional information about the trial, can be found at: https://clinicaltrials.gov (ClinicalTrials.gov Identifier: NCT05354102).
About ASCO:
Founded in 1964, the American Society of Clinical Oncology, Inc. (ASCO®) is committed to the principle that knowledge conquers cancer. Together with the Association for Clinical Oncology, ASCO represents nearly 45,000 oncology professionals who care for people living with cancer. Through research, education, and promotion of high quality, equitable patient care, ASCO works to conquer cancer and create a world where cancer is prevented or cured, and every survivor is healthy. The ASCO Annual Meeting is a unique and unparalleled opportunity to connect with one of the largest, most diverse audiences in global cancer care as well as global cancer experts and professionals, to discover the latest innovations in cancer research and education.
About BMC128:
BMC128 is a rationally-designed microbial consortium identified and selected through a detailed functional microbiome analysis using PRISM, a proprietary high-resolution microbiome analysis platform powered by Evogene's MicroBoost AI platform.
Developed as a Live Bacterial Product (LBP), BMC128 is an LBP consortium comprised of four unique bacterial strains, natural inhabitants of the human intestinal tract, that harbour specific functional capabilities with the potential to enhance immunological therapeutic responses and facilitate anti-tumor immune activity through multiple biological processes.
Rationally-designed consortia are multi-strain products designed to restore diversity and specific functionality to a host's microbial community with individually selected, cultured bacteria.
About Biomica Ltd.:
Biomica is a clinical stage biopharmaceutical company developing innovative microbiome-based therapeutics utilizing PRISM system, a proprietary computational platform powered by Evogene's MicroBoost AI tech-engine. licensed from Evogene. Biomica aims to identify and characterize disease-related microbiome entities and to develop novel therapeutics based on these understandings. The company is focused on the development of therapies for antibiotic resistant bacteria, immuno-oncology, and microbiome-related gastrointestinal (GI) disorders. Biomica is a subsidiary of Evogene Ltd. (Nasdaq: EVGN) (TASE: EVGN).
For more information, please visit www.biomicamed.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.
Forward-Looking Statements:
This press release contains "forward-looking statements" relating to future events. These statements may be identified by words such as "will", "may", "could", "expects", "intends", "anticipates", "plans", "believes", "scheduled", "estimates", "demonstrates", or words of similar meaning. For example, Evogene and Biomica are using forward-looking statements in this press release when they discuss the safety and potential efficacy of BMC128 and its potential benefits for patients with refractory NSCLC, melanoma, or RCC who have not responded to or developed resistance to previous immunotherapy treatments. Such statements are based on current expectations, estimates, projections and assumptions, describe opinions about future events, and 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 Hamas and Hezbollah 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 applicable securities authorities. 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, and assumptions.
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Evogene Investor Relations Contact:
Rachel Pomerantz Gerber
Head of Investor Relations at Evogene
rachel.pomerantz@evogene.com
Tel: +972-8-9311901
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SOURCE Biomica Ltd.
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Evogene Reports First Quarter 2024 Financial Results
https://finance.yahoo.com/news/evogene-reports-first-quarter-2024-110000510.html
Conference call and webcast: today, May 23, 2024, 9:00 am ET
Financial and Business Highlights:
Q1 2024 revenue: $4.2M vs. $0.6M in Q1 2023; anticipating continued growth in 2024.
Q1 2024 net loss: $3.8M vs. $7.0M in Q1 2023.
Projected 2024 cash usage, excluding Lavie Bio and Biomica: $8.0M, down 36% from $12.5M in 2023.
Ceasing Canonic's operations results in annualized savings of approximately $1.5 million.
Casterra's new agreements with African and Brazilian castor seed growers secure 900 tons of castor seeds, expected to fulfill all standing orders by end of 2024.
Biomica to present preliminary Phase 1 clinical trial results for BMC128 at the 2024 ASCO conference on June 3.
Lavie Bio received $2.5M, the second half of advanced payment from Corteva; announced new collaboration with Syngenta for bio insecticides; extended trials with Bayer for bio fungicides. Marketing and sales for Yalos™ are expanding in the US and Canada, with more crops added.
AgPlenus announced a new collaboration with Bayer, including an upfront payment, research funding, milestone payments, and future royalties; achieved a milestone with Corteva in an existing collaboration agreement.
REHOVOT, Israel, May 23, 2024 /PRNewswire/ -- Evogene Ltd. (Nasdaq: EVGN) (TASE: EVGN), a leading computational biology company aiming to revolutionize the development of life-science-based products, today announced its financial results for the first quarter period ended March 31, 2024.
Mr. Ofer Haviv, Evogene's President and CEO, stated: "Evogene's mission is to direct and accelerate the development of life-science based products. During the past years we developed three innovative AI tech-engines addressing the main development challenges of 3 life-science based product categories:
MicroBoost AI – for the development of microbe-based products,
ChemPass AI – for small-molecule-based products, and
GeneRator AI – for products based on genetic elements.
Our AI tech-engines were structured to be compatible with the tremendous potential of various market segments and not limited to only one specific segment.
In order to capture the value of our AI tech-engines, our business strategy is to establish diverse collaborative partnerships through licensing or collaboration, with expert partners in specific fields that complement our technology. Together, we'll develop novel products, aiming for full or partial ownership upon project completion.
This approach maximizes the potential of our AI tech-engines, while reducing financial and development risks. We believe this strategy holds the potential for groundbreaking innovations and significant financial gains for Evogene.
Today, Evogene has 4 subsidiary companies, and diverse engagements with leading companies in additional market segments, not covered by our subsidiaries.
I am very pleased to share with you the main achievements made by Evogene and its subsidiaries from the beginning of the year."
Evogene Updates:
Ceasing Canonic's operation - Evogene has decided to cease its subsidiary Canonic, which specialized in customized medical cannabis products, following challenging market conditions in the medical cannabis sector. This decision results in annualized savings of approximately $1.5 million. Resources will be reallocated to areas with greater growth potential, such as funding Casterra's needs for on-going capital.
Establishment of Finally Foods - In March 2024, Evogene and The Kitchen FoodTech Hub by Strauss Group, established Finally Foods Ltd., an AI-driven company focused on sustainable protein production in plants, for the food sector. Finally Foods will leverage Evogene's AI technology to modify plants for efficient protein production. The company has secured pre-seed funding from TKH and the Israeli Innovation Authority. Evogene holds approximately 40% stake in the company.
Collaboration with Verb Biotics - In February 2024, Evogene and Verb Biotics entered into a collaboration agreement to advance probiotic innovation by developing new strains of probiotic bacteria that produce sustainable quantities of microbial metabolites, which enhance human health and vitality. The partnership will leverage Evogene's MicroBoost AI tech-engine and Verb Biotics' expertise in microbiome health.
Subsidiaries Updates:
Casterra Ag Ltd. – focuses on developing an integrated solution to enable large-scale commercial cultivation of castor to address the global demand for stable castor oil supply, mainly for the biodiesel industry. Casterra is utilizing GeneRator AI tech engine to direct and accelerate the development of its unique elite castor seed varieties.
Under the supervision of Casterra's new CEO, the company has recently engaged with castor seed growers in Africa and Brazil. These engagements are expected to yield approximately 900 tons of castor seeds in 2024, fulfilling all existing purchase orders and providing additional inventory later this year. The balance of the existing purchase orders is anticipated to be delivered in the second half of 2024.
Biomica Ltd. - a clinical-stage biopharmaceutical company developing innovative microbiome-based therapeutics, utilizing Evogene's MicroBoost AI tech-engine.
In January, 2024, Biomica reached a significant milestone by completing Phase I trial enrollment for its microbiome-based immuno-oncology drug BMC128 - a rationally designed consortia of 4 bacteria. Biomica recently announced that it will be presenting preliminary Phase 1 study data of BMC128 in a poster presentation at the 2024 ASCO Annual Conference, on June 3rd.
Biomica is now preparing for advancing to Phase 2 of BMC128 clinical trial, and already conducted a pre-IND meeting with the FDA, aiming to initiate Phase 2 in 2025.
Results from Biomica's pre-clinical study in the IBS program, conducted in collaboration with NYU's medical school, were presented at the Digestive Disease Week 2024 Annual Conference in May 2024.
Lavie Bio Ltd. - a leading ag-biologicals company that develops microbiome-based, computational-driven novel bio-stimulant and bio-pesticide products, utilizing Evogene's MicroBoost AI tech-engine.
In February, 2024, Lavie Bio announced that it had met the requirements of its licensing agreement for LAV311 & LAV312 with Corteva. This achievement enabled the successful receipt of the second half of an advanced payment, amounting to $2.5 million, bringing the total to $5 million.
In February, 2024, Lavie Bio signed an agreement with Syngenta for the development of new biological insecticidal solutions.
Lavie Bio has extended its joint validation trials with Bayer for its bio-fungicides, following successful laboratory and greenhouse testing. This joint effort, aimed at combating diseases affecting fruits and vegetables globally, has moved to field experiments for further validation.
In March, 2024, Lavie Bio partnered with Ceres Global Ag Corp. to integrate its bio-inoculant, Yalos™, into regenerative agriculture programs across North America. This announcement and other marketing and sales efforts support the penetration of Yalos™ in US and Canada markets with additional crops being added for treatment. Based on initial orders and sales projections, 2024 revenues are anticipated to increase compared to the previous year.
AgPlenus Ltd. - a global leader in computational design and development of novel sustainable crop protection products, utilizing Evogene's ChemPass AI tech-engine.
In February, 2024, AgPlenus announced a licensing and collaboration agreement with Bayer to develop a novel mode of action broad-spectrum herbicide targeting the APTH1 protein. The agreement entitles AgPlenus to an upfront payment, which was received on March 2024, ongoing research funding, milestone payments, and royalties based on future product sales. Bayer will have the exclusive license for developing and commercializing products resulting from this collaboration.
In March, 2024, AgPlenus announced achieving a milestone under its existing collaboration with Corteva to develop new herbicides through a novel mode of action, APCO12, discovered by AgPlenus. The next phase of this collaboration will focus on optimizing the herbicide candidates towards a commercial-level product.
Financial Highlights:
Cash Position: As of March 31, 2024, Evogene held consolidated cash, cash equivalents, and short-term bank deposits of approximately $26.6 million, compared to approximately $31.1 million as of December 31, 2023. The consolidated cash usage during the Q1 2024 was approximately $4.5 million. Excluding Lavie Bio and Biomica, Evogene and its other subsidiaries used approximately $3.4 million in cash. Projected cash usage for 2024, excluding Lavie Bio and Biomica, is expected to be around $8.0 million, marking a notable 36% decrease from approximately $12.5 million in 2023.
Revenue: Revenues for the first quarter of 2024 were approximately $4.2 million, a significant increase from approximately $0.6 million in the same period the previous year. This growth was primarily driven by revenues recognized from Lavie Bio's licensing agreement with Corteva and AgPlenus's new collaboration with Bayer. Evogene anticipates continued revenue growth in 2024 compared to the previous year, mainly in the second half of 2024 based on Casterra's forecast for seed-order supply.
R&D Expenses: Research and development expenses for the first quarter of 2024 were stable at approximately $4.8 million, net of non-refundable grants, consistent with the same period in the previous year.
Sales and Marketing Expenses: These expenses increased to $992 thousand in the first quarter of 2024 compared to $800 thousand in the same period of the previous year. The increase was driven by heightened sales and marketing activities for Casterra's elite seed varieties and Lavie Bio's first commercial product, Yalos™.
General and Administrative Expenses: General and administrative expenses rose to approximately $1.7 million in the first quarter of 2024, compared to approximately $1.5 million in the same period of the previous year, mainly due to non-cash compensation for subsidiary CEOs.
Other Expenses: The decision to cease Canonic's operations resulted in recording other expenses of approximately $0.5 million, mainly due to impairment of fixed assets.
Operating Loss: The operating loss for the first quarter of 2024 was approximately $4.1 million, a decrease from $6.8 million in the same period of the previous year, mainly due to increased revenues.
Financing Income: Financing income net for the first quarter of 2024 was $241 thousand, compared to financing expenses net of $230 thousand in the same period of the previous year. This improvement was primarily due to increased interest income and revaluation of convertible SAFE.
Net Loss: The net loss for the first quarter of 2024 was approximately $3.8 million, compared to approximately $7.0 million in the same period last year. The $3.2 million decrease in net loss was primarily due to increased revenues and financial income, partially offset by the one-time $519 thousand other expenses related to ceasing Canonic's operations.
For the financial tables click here.
Conference Call & Webcast Details: Thursday, May 23, 2024. 9:00 AM EST 4:00 PM IDT
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Webinar ID: 871 1216 5951
Webcast & Presentation link available at:
https://evogene.com/investor-relations/