Evogene Ltd (EVGN)

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

https://finance.yahoo.com/news/bayer-ag-lavie-bio-continue-130000956.html

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.