WILMINGTON, Delaware
and REHOVOT, Israel,
March 25, 2020 /PRNewswire/ --
Corteva Agriscience (NYSE: CTVA), a leading pure-play agriculture
company, and AgPlenus, a subsidiary of Evogene Ltd., (NASDAQ: EVGN)
(TASE: EVGN), today announced that they have entered into a
multi-year collaboration for the development of novel herbicides.
The collaboration will combine Corteva's strengths in crop
protection product discovery and development with AgPlenus'
expertise in designing effective and sustainable crop protection
products using predictive biology.
By leveraging their complementary expertise, Corteva and
AgPlenus will address the rise of global weed resistance, created
in-part by the absence of new modes of action (MoAs) for weed
control over the past 30 years. Successful products resulting from
the collaboration will enter a multi-billion-dollar market.
"Weed resistance presents a serious challenge for today's
farmers," said Neal Gutterson,
Senior Vice President and Chief Technology Officer, Corteva
Agriscience. "So much has changed since the last MOAs were
identified in the early 1990s. It's time to find new solutions; our
collaboration with AgPlenus positions us well to do
that."
Under the terms of the agreement, Corteva will apply its
extensive crop protection research and development expertise, and
AgPlenus will apply a robust computational platform to optimize
several of AgPlenus' chemical families. Such chemical families have
already been validated for herbicidal activity and are connected to
new MoAs. Corteva holds an exclusive license from AgPlenus to
commercialize herbicides based on these chemical families.
Additional financial terms of the collaboration were not disclosed.
Eran Kosover, AgPlenus' CEO
stated: "We are very excited with this new collaboration
with Corteva Agriscience, a pioneer in the development of novel
herbicides. This collaboration will focus on optimizing our leading
chemical families putting us in an excellent position to pursue our
target of developing novel herbicides. I am confident that
AgPlenus' unique approach in the development of herbicides,
alongside Corteva Agriscience's extensive scientific and market
know-how, will lead to new and sustainable innovation in the
herbicides market."
About Corteva Agriscience
Corteva Agriscience is a publicly traded, global pure-play
agriculture company that provides farmers around the world with the
most complete portfolio in the industry – including a balanced and
diverse mix of seed, crop protection and digital solutions focused
on maximizing productivity to enhance yield and profitability. With
some of the most recognized brands in agriculture and an
industry-leading product and technology pipeline well positioned to
drive growth, the Company is committed to working with stakeholders
throughout the food system as it fulfills its promise to enrich the
lives of those who produce and those who consume, ensuring progress
for generations to come. Corteva Agriscience became an independent
public company on June 1, 2019, and
was previously the Agriculture Division of DowDuPont. More
information can be found at www.corteva.com.
Follow Corteva Agriscience on Facebook, Instagram, LinkedIn,
Twitter and YouTube.
Corteva Agriscience Cautionary Statement About
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of Section 21E of the Securities Exchange Act of 1934,
as amended, and Section 27A of the Securities Act of 1933, as
amended, which may be identified by their use of words like
"plans," "expects," "will," "anticipates," "believes," "intends,"
"projects," "targets," "estimates" or other words of similar
meaning. All statements that address expectations or projections
about the future, including statements about Corteva'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, and
financial results, as well as expected benefits from, the
separation of Corteva from DowDuPont, are forward-looking
statements.
Forward-looking statements are based on certain assumptions and
expectations of future events which may not be accurate or
realized. Forward-looking statements also involve risks and
uncertainties, many of which are beyond Corteva's control.
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,
financial loss, legal liability to third parties and similar risks,
any of which could have a material adverse effect on Corteva's
business, results of operations and financial condition.
Additionally, there may be other risks and uncertainties that
Corteva is unable to currently identify or that Corteva does not
currently expect to have a material impact on its business.
Where, in any forward-looking statement, an expectation or
belief as to future results or events is expressed, such
expectation or belief is based on the current plans and
expectations of Corteva's management and expressed in good faith
and believed to have a reasonable basis, but there can be no
assurance that the expectation or belief will result or be achieved
or accomplished. Corteva disclaims and does not undertake any
obligation to update or revise any forward-looking statement,
except as required by applicable law. A detailed discussion of some
of the significant risks and uncertainties which may cause results
and events to differ materially from such forward-looking
statements is included in Corteva's Annual Report on Form 10-K for
the Period Ended December 31, 2019
filed with the U.S. Securities and Exchange Commission.
About AgPlenus Ltd.
AgPlenus is designing effective and sustainable crop protection
products by leveraging predictive biology. The Company aims to
develop crop protection products: herbicides, insecticides,
fungicides and crop enhancers. AgPlenus is a fully owned subsidiary
of Evogene Ltd. (NASDAQ, TASE: EVGN). For more information, please
visit www.agplenus.com
About Evogene Ltd.
Evogene (NASDAQ: EVGN, TASE: EVGN.TA) is a leading company in
leveraging computational biology to design novel products for
life-science-based industries. Leveraging Big Data and Artificial
Intelligence while incorporating a deep understanding of biology,
Evogene established its unique technology, the CPB platform, to
computationally design microbes, small molecules and genes as the
core components for life-science products. Evogene holds a number
of subsidiaries utilizing the CPB platform, for the development of
human microbiome-based therapeutics, medical cannabis, ag-chemicals
and ag-biologicals. For more information, please visit
www.evogene.com.
Evogene 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", "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 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, those risk
factors contained in Evogene's reports filed with the applicable
securities authority, as well as a result of the Coronavirus. 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
(including as a result of the effect of the Coronavirus), 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.
™ ,®, ℠ Trademarks and service marks
of Dow AgroSciences, DuPont or Pioneer, and their affiliated
companies or their respective owners.
Contacts:
Evogene Media Contact:
Rivka
Neufeld
Investor Relations and Public Relations Manager
E: IR@evogene.com
T: +972-8-931-1940
Corteva Media Contact:
Kacey
Birchmier
Media Relations Manager
E: kacey.birchmier@corteva.com
T: +1-515-535-6149
Evogene US Investor Relations:
Joseph Green
Edison Group
E: jgreen@edisongroup.com
T: +1-646-653-7030
Laine Yonker
Edison Group
E: lyonker@edisongroup.com
T: +1-646-653-7035
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SOURCE Corteva Agriscience; AgPlenus