The collaboration will tap into the potential of artificial
intelligence (AI) to design and optimize crop protection chemistry,
developing a novel sustainable Mode-of-Action (MoA) broad-spectrum
herbicide for farmers
REHOVOT, Israel, Feb. 21,
2024 /PRNewswire/ -- AgPlenus Ltd., a global leader
in designing and developing novel sustainable crop protection
products and a subsidiary of Evogene Ltd. (Nasdaq: EVGN), (TASE:
EVGN), announced today the signing of a licensing &
collaboration agreement with Bayer AG, a global enterprise
with core competencies in the life science fields of health care
and agriculture.
In collaboration with Bayer's Crop Science division, having an
industry-leading R&D pipeline and portfolio of seeds &
traits, crop protection, and digital farming solutions, AgPlenus
will use its AI-driven computational modeling technology to design
and optimize molecules identified for their broad-spectrum
herbicidal activity targeting the APTH1 protein, a new mode of
action identified by AgPlenus.
Herbicide market is valued at $42.81
billion in 2024[1] and is crucial for ensuring global
food security. It is also an essential part of regenerative
agricultural practices such as cover crops and no-till. Most
commercially available herbicides are based on molecules that
inhibit target proteins that are essential for weed vitality. In
recent years, the global agricultural industry has been facing a
growing challenge of weed resistance to the limited number of
existing products available to farmers, whose challenges are
further exacerbated by climate change that is causing weeds to
evolve and spread.
The two companies will collaborate to optimize new molecules,
identified by AgPlenus and tested by Bayer, into commercially
viable candidates. The collaboration will leverage AgPlenus'
proprietary computational technology, powered by Evogene's
ChemPass AI tech engine, together with Bayer's extensive
expertise in research, development and commercialization of crop
protection products.
Under the agreement, Bayer will have the exclusive license for
the development and commercialization of products developed within
the collaboration. AgPlenus will be entitled to receive an upfront
payment, ongoing research funding, milestone payments, and
royalties based on future product sales.
"We are looking forward to the collaboration with AgPlenus,
which shares our belief that the breakthrough technologies
available today represent a vast potential to design and develop
entirely new solutions to help farmers overcome challenges such as
pest resistance, climate change, and societal expectations towards
crop protection," said Rachel
Rama, Head of Small Molecules at Bayer's Crop Science
division. "Bringing together AgPlenus' expertise with Bayer's
CropKey approach to crop protection innovation will help
accelerate the delivery of essential, sustainable, and affordable
solutions to farmers and set a new benchmark in the industry."
Dr. Brian Ember, CEO of AgPlenus, said: "The
collaboration with Bayer is a significant step forward for AgPlenus
and validates the value of our computational technology platform.
Leveraging Bayer's expertise and AgPlenus's technology, our mutual
goal is to provide farmers worldwide with effective tools for more
sustainable crop protection by introducing a novel herbicide with a
new MoA."
About AgPlenus Ltd.:
AgPlenus is a platform company designing effective and
sustainable crop protection products. At AgPlenus, we
are solving pesticide resistance by infusing the discovery process
with predictive biology and artificial
intelligence. AgPlenus leverages the ChemPass AI
tech-engine, licensed from Evogene, to discover and bring to market
effective and sustainable crop protection products. Our
target-based approach allows us to reduce risk and increase
efficiency, so that we can deliver on our promise to defeat
global pesticide resistance. AgPlenus is a subsidiary of Evogene
Ltd.
For more information, please visit www.agplenus.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.
Contacts
Rachel Pomerantz Gerber
Head of Investor Relations at Evogene
rachel.pomerantz@evogene.com
Tel: +972-8-9311901
Forward-Looking Statements
This press release contains "forward-looking statements"
relating to future events. These statements may be identified by
words such as "may", "could", "expects", "hopes" "intends",
"anticipates", "plans", "believes", "scheduled", "estimates",
"demonstrates" or words of similar meaning. For example, Evogene
and its subsidiaries are using forward-looking statement in this
press release when they discuss AgPlenus' ability to design and
optimize molecules identified for their broad-spectrum herbicidal
activity targeting the APTH1 protein, to create commercially viable
candidates, to create effective tools for more sustainable crop
protection, by introducing a novel herbicide with a new
MoA and Ag Plenus' eligibility to
ongoing research funding, future milestone and royalty payments.
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 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 and Hamas 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 the applicable securities authority.
In addition, Evogene and its subsidiaries rely, and expect to
continue to rely, on third parties to conduct certain activities,
such as their field-trials and pre-clinical studies, and if these
third parties do not successfully carry out their contractual
duties, comply with regulatory requirements or meet expected
deadlines, Evogene and its subsidiaries may experience significant
delays in the conduct of their activities. 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.
[1]
https://www.mordorintelligence.com/industry-reports/global-herbicides-market-industry?gclid=EAIaIQobChMIqL--hsHMgAMVoJODBx2ZLQeZEAAYAiAAEgLXqvD_BwE
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SOURCE AgPlenus Ltd.