DuPont Pioneer (DuPont) and Evogene Ltd (NASDAQ:EVGN) (TASE:EVGN),
a leading company for the improvement of crop productivity and
economics for the food, feed and biofuel industries, announced
today that they have entered into a multiyear collaboration. The
scope of the agreement includes the research and development of
microbiome-based seed treatments in corn. The goal of the
collaboration is to provide farmers with innovative bio-stimulant
seed treatment products that protect and maximize corn yield by
leveraging each other’s relevant market-leading technologies.
Under the terms of the agreement, DuPont will
provide access to its extensive seed treatment application
technology and product development expertise. Evogene will apply
its predictive computational biology platform to decipher
plant/microbiome interactions along with its microbial formulation
and fermentation technologies. The combination of these key
capabilities increases the opportunity to fully activate the
potential of the emerging field of microbiome-based seed treatment
products.
“This is an important step forward in our
efforts to discover, develop and provide advanced seed-applied
technologies,” said Neal Gutterson, vice president, Research &
Development, DuPont Pioneer. “Our relationship with Evogene is
consistent with our history of collaboration to advance
science-based customer solutions and our open innovation
strategy.”
Ofer Haviv, Evogene's president and CEO added:
"We believe microbiome-based biologicals will be an important and
valuable tool for farmers in driving agricultural productivity.
Evogene’s biological predictive technology platform drives research
and development of such novel ag-biological solutions and generates
significant positive outcomes. We are extremely pleased and proud
to collaborate with agriculture leader DuPont Pioneer – a
collaboration which will improve our potential for success and
reduce our time to market.”
Ag-biologicals represent a growing approach for
driving agriculture productivity and are increasingly adopted by
farmers to complement the existing solutions of improved seed
traits and crop protection chemistry. The bio-stimulant market is
an evolving segment with immense potential and estimated by
MarketsandMarkets™ in 2016 at over $1.6 billion with a projected
annual growth rate of approximately 10 percent. 1
Microbiomes are microbial communities that
reside on or within the plant's immediate microbial environment and
play a significant role in plant health. Bio-stimulants are
agricultural biologic products, which increase crop yield and
resilience to environmental (abiotic) stress by enhancing desirable
plant characteristics and promoting efficient use of nutrient
inputs.
By leveraging the understanding of the complex
plant/microbiome interaction, the parties will work to develop a
next generation of bio-stimulant products aimed at demonstrating
high standards for performance and consistency criteria across a
range of corn varieties and global locations. Product development
efforts under the collaboration will utilize, as a starting point,
Evogene’s proprietary microbe combinations which are already
identified and validated in field testing to have significant
positive impact on key crop characteristics, including yield
productivity as previously disclosed by Evogene in 2016.
The multi-year collaboration has an extension
option if certain milestones are met. Pioneer will obtain worldwide
marketing rights for any products, with milestone payments and
royalties to be paid to Evogene. Specific financial terms and
additional details of the agreement were not disclosed.
___________________
1 Based on the report of Market &
Markets, May 2016
http://www.marketsandmarkets.com/PressReleases/biostimulant.asp
Evogene (NASDAQ:EVGN)
(TASE:EVGN) is a leading biotechnology company for the improvement
of crop productivity. The company has developed a proprietary
innovative technology platform, leveraging scientific understanding
and computational technologies to harness Ag ‘Big Data’ for
developing improved seed traits (via: GM and non-GM approaches), as
well as innovative ag-chemical and novel ag-biological products.
Evogene has strategic collaborations with world-leading
agricultural companies like: BASF, Bayer, DuPont, Monsanto and
Syngenta, focusing on innovative crop enhancement and crop
protection solutions. For more information, please visit
www.evogene.com.
Forward-Looking StatementsThis
press release contains "forward-looking statements" relating to
future events. These statements may be identified by
words such as "may", "will", "could",
“expects”, "intends", “anticipates”,
“plans”, “believes”, “scheduled”, “estimates” or words of
similar meaning. 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 may differ
materially from what is expressed or implied
by such forward-looking statements due to a variety of
factors, many of which beyond Evogene's
control, including, without limitation, those risk
factors contained in Evogene’s reports filed with the
appropriate securities authority. Evogene disclaims any
obligation or commitment to update these forward-looking statements
to reflect future events or developments or changes in
expectations, estimates, projections and assumptions.
DuPont Pioneer is the world's
leading developer and supplier of advanced plant genetics,
providing high-quality seeds to farmers in more than 90 countries.
Pioneer provides agronomic support and services to help increase
farmer productivity and profitability and strives to develop
sustainable agricultural systems for people everywhere. Science
with Service Delivering Success®.
DuPont (NYSE:DD) has been
bringing world-class science and engineering to the global
marketplace in the form of innovative products, materials and
services since 1802. The company believes that by collaborating
with customers, governments, NGOs and thought leaders, we can help
find solutions to such global challenges as providing enough
healthy food for people everywhere, decreasing dependence on fossil
fuels, and protecting life and the environment. For additional
information about DuPont and its commitment to inclusive
innovation, please visit www.dupont.com.
Merger of EqualsOn December 11,
2015, DuPont and The Dow Chemical Company (“Dow”) announced entry
into an Agreement and Plan of Merger, as amended on March 31, 2017
and as may be amended from time to time in accordance with its
terms, (the “Merger Agreement”) under which the companies will
combine in an all-stock merger (the “Merger Transaction”), subject
to satisfaction of closing conditions, including receipt of
regulatory approval. Dow and DuPont have obtained conditional
approval for the Merger Transaction from the antitrust regulatory
authorities in the United States, Brazil, Canada and China, among
others. The conditional approvals were granted based on the
companies fulfilling their commitments to divest certain assets,
among other conditions, (the “Conditional Commitments”). In
connection with the Conditional Commitments, DuPont entered into a
definitive agreement (the “FMC Transaction Agreement”) with FMC
Corporation (FMC). Under the FMC Transaction Agreement subject to
the closing of the Merger Transaction in addition to customary
closing conditions, including regulatory approval, FMC will acquire
certain Crop Protection business and R&D assets from DuPont and
DuPont has agreed to acquire certain assets relating to FMC’s
Health and Nutrition segment, (collectively, the “FMC
Transactions”). The combined company will be DowDuPont Inc. DuPont
and Dow intend, following consummation of the Merger Transaction,
that DowDuPont Inc. will pursue, subject to the receipt of approval
by the board of directors of DowDuPont, the separation of the
combined company’s agriculture business, specialty products
business, and materials science business through a series of
tax-efficient transactions (collectively, the “Intended Business
Separations”). For more information, please see DuPont’s latest
annual, quarterly and current reports on Forms 10-K, 10-Q and 8-K,
as well as the joint proxy/prospectus included in the DowDuPont
Registration Statement on Form S-4 filed in connection with the
Merger Transaction.
Forward-Looking StatementsThis
document contains forward-looking statements which may be
identified by their use of words like “plans,” “expects,” “will,”
“believes,” “intends,” “estimates,” “anticipates” or other words of
similar meaning. All statements that address expectations or
projections about the future, including statements about the
company’s strategy for growth, product development, regulatory
approval, market position, anticipated benefits of recent
acquisitions, timing of anticipated benefits from restructuring
actions, outcome of contingencies, such as litigation and
environmental matters, expenditures, financial results and timing
of, as well as expected benefits, including synergies, from the
Merger Transaction and the Intended Business Separations, are
forward-looking statements. These and other forward-looking
statements, including the failure to consummate the Merger
Transaction, the Intended Business Separations, the FMC
Transactions or the Conditional Commitments, to make or take any
filing or other action required to consummate such transactions in
a timely manner or at all, are not guarantees of future results and
are subject to risks, uncertainties and assumptions that could
cause actual results to differ materially from those expressed in
any forward-looking statements. Forward-looking statements are not
guarantees of future performance and are based on certain
assumptions and expectations of future events which may not be
realized. Forward-looking statements also involve risks and
uncertainties, many of which are beyond the company’s control. Some
of the important factors that could cause the company’s actual
results to differ materially from those projected in any such
forward-looking statements are: fluctuations in energy and raw
material prices; failure to develop and market new products and
optimally manage product life cycles; ability to respond to market
acceptance, rules, regulations and policies affecting products
based on biotechnology and, in general, for products for the
agriculture industry; outcome of significant litigation and
environmental matters, including realization of associated
indemnification assets, if any; failure to appropriately manage
process safety and product stewardship issues; changes in laws and
regulations or political conditions; global economic and capital
markets conditions, such as inflation, interest and currency
exchange rates; business or supply disruptions; security threats,
such as acts of sabotage, terrorism or war, natural disasters and
weather events and patterns which could affect demand as well as
availability of products for the agriculture industry; ability to
protect and enforce the company’s intellectual property rights;
successful integration of acquired businesses and separation of
underperforming or non-strategic assets or businesses; and risks
related to the Merger Transaction, the Intended Business
Separations, the FMC Transactions and the Conditional Commitments.
These risks, as well as other risks associated with the Merger
Transaction, the Intended Business Separations, the FMC
Transactions and the Conditional Commitments, are or will be more
fully discussed in (1) DuPont’s most recently filed Form 10-K, 10-Q
and 8-K reports, (2) DuPont’s subsequently filed Form 10-K and 10-Q
reports and (3) the joint proxy statement/prospectus included in
the Registration Statement filed with the SEC about the Merger
Transaction. Unlisted factors may present significant additional
obstacles to the realization of forward-looking statements.
Consequences of material differences in results as compared with
those anticipated in the forward-looking statements could include,
among other things, business disruption, operational problems,
monetary loss, legal liability to third parties and similar risks,
any of which could have a material adverse effect on DuPont’s
consolidated financial condition, results of operations, credit
rating or liquidity. The company assumes no obligation to publicly
provide revisions or updates to any forward-looking statements,
whether because of new information, future developments or
otherwise, should circumstances change, except as otherwise
required by securities and other applicable laws.
®, ™, SM Trademarks and service marks of DuPont,
Pioneer or their respective owners.
Contacts:
DuPont Pioneer:
Kerrey Kerr-Enskat
+515-423-8251
kerrey.kerr-enskat@pioneer.com
Evogene:
Alex Tasker
+972-8-931-1963
IR@evogene.com
Evogene (NASDAQ:EVGN)
Historical Stock Chart
From Mar 2024 to Apr 2024
Evogene (NASDAQ:EVGN)
Historical Stock Chart
From Apr 2023 to Apr 2024