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Evogene completes sale of ag-biologicals unit to ICL Group.
ByAinvest
Tuesday, Jul 8, 2025 7:03 am ET1min read
Evogene Ltd. has completed the divestiture of the majority of its ag-biologicals subsidiary, Lavie Bio Ltd., to ICL Group Ltd. As part of the transaction, Evogene has transferred its MicroBoost AI for AG platform to ICL. ICL acquired Lavie Bio's technology platform, microbial bank, pipeline of development programs, and commercial product offerings.
Evogene Ltd. (NASDAQ: EVGN) (TASE: EVGN), a leading computational biology company, has successfully completed the divestiture of the majority of its ag-biologicals subsidiary, Lavie Bio Ltd., to ICL Group Ltd. (NYSE: ICL) (TASE: ICL) [1]. The transaction, which closed on July 8, 2025, includes the transfer of Lavie Bio's proprietary Biology Driven Design (BDD) technology platform, microbial bank, pipeline of advanced development programs, and current commercial product offerings to ICL.As part of the transaction, Evogene also transferred its proprietary MicroBoost AI for AG platform to ICL. This platform is designed to accelerate microbial product development in the agriculture sector. The divestiture does not include Lavie Bio's existing strategic partnerships and commercial agreements, which will remain under Lavie Bio's ownership.
Ofer Haviv, Chief Executive Officer of Evogene, stated, "The successful completion of this transaction with ICL, a global leader in agricultural technology and crop nutrition, represents a strategic milestone for Evogene. We believe that combining Lavie Bio's innovative capabilities with ICL's global reach and operational expertise will significantly advance the ag-biologicals sector and contribute to the development of sustainable agricultural solutions."
Dr. Elinor Erez, VP R&D of Growing Solutions at ICL, commented, "This strategic acquisition of Lavie Bio reflects ICL's continued drive to lead the global ag-biologicals market. By integrating Lavie Bio's platform with ICL's R&D expertise in plant nutrition solutions, global sales network, and field-based agronomy teams, we are strengthening our ability to deliver the next generation of biological solutions."
The transaction aligns with Evogene's broader corporate strategy to unlock the intrinsic value of its subsidiaries and technology. Evogene uses its technological engines, including MicroBoost AI, ChemPass AI, and GeneRator AI, to develop products through subsidiaries and with strategic partners. Currently, Evogene's main subsidiaries utilize these engines to develop human microbiome-based therapeutics, ag-chemicals, and ag-biologicals.
References:
[1] https://www.prnewswire.com/news-releases/evogene-announces-completion-of-transaction-for-the-sale-of-lavie-bios-activity-to-icl-302499902.html
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