Evogene Completes Sale of Lavie Bio to ICL Group, Enhancing Global Reach in Sustainable Agriculture

Evogene has completed the sale of its ag-biologicals subsidiary, Lavie Bio, to ICL Group Ltd. The acquisition includes Lavie Bio's technology platform, microbial bank, pipeline, and commercial products, as well as the transfer of core individuals to ICL. Evogene has also sold its MicroBoost AI for AG platform. The transaction is a strategic turning point that will multiply Evogene's global reach and promote sustainable agriculture.

Evogene Ltd. (EVGN), a leader in computational biology, has completed the sale of its ag-biologicals subsidiary, Lavie Bio, to ICL Group Ltd. [1] The acquisition includes Lavie Bio's technology platform, microbial bank, pipeline, and commercial products, as well as the transfer of core individuals to ICL. Additionally, Evogene has sold its MicroBoost AI for AG platform. This strategic move is expected to significantly enhance Evogene's global reach and promote sustainable agriculture.

The transaction, which follows ICL's strategic investment and over two years of collaboration with Lavie Bio, aims to accelerate the development of innovative agricultural solutions globally. ICL Group will now have access to Lavie Bio's core team, BDD technology platform, microbial bank, data assets, development programs, and commercial products. The deal excludes Lavie Bio's existing partner agreements, which will continue to generate potential future revenues for Lavie Bio's shareholders.

Evogene's sale of Lavie Bio and MicroBoost AI Tech-Engine for Agriculture to ICL aligns with its goal to unlock subsidiary value while strengthening ICL's position in the global ag-biologicals market. This strategic move allows Evogene to focus on its core competencies, including the development of its ChemPass AI tech-engine for pharmaceutical applications and generating value from other subsidiaries.

The sale is a significant step for Evogene, marking a turning point in its strategic direction. By divesting non-core assets, Evogene can redirect its resources and expertise towards its primary mission of enhancing crop productivity, therapeutic discoveries, and sustainable industrial solutions through cutting-edge computational methods.

References:
[1] https://www.stocktitan.net/news/EVGN/