REHOVOT, Israel, March 6,
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), announces today that it has achieved a milestone in
the collaboration with Corteva Agriscience (NYSE: CTVA), a
leading pure-play agriculture company, for the development of novel
herbicides. The milestone marks the successful identification of a
new family of molecules exhibiting herbicidal effect through a
novel Mode of Action (MoA), APCO-12, discovered by AgPlenus.
Herbicide market is estimated at $42.81
billion in 2024[1]. Most commercially available herbicides
are based on small molecules that inhibit target proteins (MoAs) in
weeds, leading to weed mortality. In recent years the global
agricultural industry has faced a growing challenge of weed
resistance to existing herbicides, created in part by a limited
number of new MoAs for weed control in the last three decades.
The collaboration, commencing in 2020, aims to develop a new MoA
herbicide by merging Corteva's leadership in product discovery with
AgPlenus's computational technology platform. Today, AgPlenus
announced that, together with Corteva, they have identified a new
potential class of herbicidal molecules through a novel MoA
APCO-12.
In the next phase, the collaboration will focus on optimizing
the identified class of molecules towards a commercial-level
product, utilizing AgPlenus' cutting-edge computational technology,
powered by Evogene's ChemPass AI tech engine and Corteva's
industry-leading R&D capabilities.
Vid Hegde, VP of Crop
Protection Discovery and Development at Corteva, said "Farmers
are in dire need of new technologies to address weed resistance
challenges. The collaboration with AgPlenus has accelerated the
identification of a class of herbicide chemistry that targets a new
mode-of-action for weed control, something the industry has been
lacking for decades."
Dr. Dan Gelvan, CEO of
AgPlenus, said "we are excited about the milestone achieved in
our collaboration with Corteva Agriscience, which reflects the
synergy established between the teams. Our commitment to advancing
sustainable agriculture remains steadfast, and we look forward to
delivering innovative herbicide solutions to farmers
worldwide."
About AgPlenus Ltd.
AgPlenus is a technological platform company for innovative
discovery of sustainable crop protection products to ensure food
security for a fast-expanding global population. AgPlenus directs
and accelerates the development of target-based novel crop
protection products, utilizing a revolutionary tech-engine, based
on AI combined with a deep understanding of biology and chemistry.
By employing our target-based approach AgPlenus is able to minimize
risks and enhance effectiveness, fulfilling its commitment to
ensuring food security by overcoming global pesticide resistance, a
factor directly impacting drop yield.
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
Forward-Looking
Statements:
This press release contains "forward-looking statements"
relating to future events. These statements may be identified by
words such as "will", "may", "could", "expects", "intends",
"anticipates", "plans", "believes", "scheduled", "estimates",
"demonstrates", or words of similar meaning. For example, Evogene
and AgPlenus are using forward-looking statements in this press
release when they discuss AgPlenus and Corteva's ability to develop
a new MoA herbicide and their success in optimizing the identified
molecules towards a commercial-level product. Such statements are
based on current expectations, estimates, projections, and
assumptions, describe opinions about future events, and involve
certain risks and uncertainties that 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 applicable securities authorities.
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.
Contact
Rachel Pomerantz
Gerber
Head of Investor Relations at Evogene
rachel.pomerantz@evogene.com
Tel: +972-8-9311901
[1] https://www.mordorintelligence.com/industry-reports/global-herbicides-market-industry
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SOURCE AgPlenus Ltd.