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Evogene Reports Second Quarter 2025 Financial Results
Prnewswire· 2025-08-19 11:00
Core Insights - Evogene Ltd. is undergoing a transformative phase focused on its ChemPass AI platform for AI-driven discovery and optimization of small molecules, targeting the pharmaceutical and agricultural markets [3][11]. Financial Performance - For the first half of 2025, total revenues were approximately $3.2 million, up from $2.3 million in the same period of 2024, primarily due to increased seed sales from Casterra [8][15]. - Total operating expenses for the first half of 2025 were approximately $7.7 million, a decrease from $11.1 million in the first half of 2024, attributed to reduced activities in subsidiaries [8][20]. - The net loss for the first half of 2025 was approximately $7.7 million, compared to $9.8 million in the same period last year, reflecting decreased operating expenses and increased financing income [8][23]. Strategic Developments - The company launched version 1.0 of its generative AI foundation model in partnership with Google Cloud, trained on a dataset of approximately 38 billion molecular structures [5]. - A collaboration with Tel Aviv University was announced to discover small molecule therapeutics for metabolic diseases, marking the start of a broader pharmaceutical ecosystem [6]. - Evogene is integrating AgPlenus' activities into its operations, which includes a 40% workforce reduction at AgPlenus to enhance operational efficiency [7]. Cash Position and Financing - As of June 30, 2025, Evogene had a cash balance of approximately $11.7 million, with cash usage during the second quarter of 2025 at approximately $2.4 million [12]. - The company raised $4.4 million through its existing at-the-market facility in June 2025, reflecting strong market confidence [10]. Operational Focus - The company is streamlining operations and focusing on enhancing ChemPass AI as its core engine, expanding strategic collaborations in pharmaceuticals, and optimizing agricultural offerings [9][14]. - Evogene executed a 30% workforce reduction, with cost savings expected to be realized from the third quarter of 2025 onwards [13].
Evogene and Professor Ehud Gazit of Tel Aviv University Announce a Collaboration to Develop New Therapeutics for Metabolic Diseases
Prnewswire· 2025-08-12 11:00
Core Insights - Evogene Ltd. has entered a scientific collaboration with Professor Ehud Gazit's research group from Tel Aviv University to develop novel small molecules aimed at inhibiting pathological self-assembly processes associated with diseases like Tyrosinemia and Gout [1][3][5] Company Overview - Evogene Ltd. is a computational biology and chemistry company that utilizes big data and artificial intelligence to enhance the development of life-science products, aiming to increase success rates while reducing time and costs [6][7] Collaboration Details - The partnership will leverage Evogene's ChemPass AI technology, which focuses on generative molecular design, combined with Professor Gazit's expertise in molecular self-assembly [4][5] - The collaboration aims to create therapeutics that specifically target the self-assembly of small metabolites, potentially benefiting millions of patients suffering from related diseases [3][5] Technological Capabilities - Evogene has developed three tech-engines: MicroBoost AI, ChemPass AI, and GeneRator AI, each focusing on different aspects of product development [7] - ChemPass AI will be utilized to drive generative molecular design, creating novel molecules tailored for therapeutic efficacy [7]
Evogene Schedules Second Quarter 2025 Financial Results Release
Prnewswire· 2025-07-29 11:00
Company Overview - Evogene Ltd. is a computational biology company focused on revolutionizing life-science product discovery and development through big data and artificial intelligence [3][4] - The company has established three unique tech-engines: MicroBoost AI, ChemPass AI, and GeneRator AI, each targeting different core components for product development [4] Upcoming Financial Results - Evogene will release its financial results for the first quarter of 2025 on August 19, 2025 [1] - A conference call to discuss these results will be held at 9:00 AM Eastern Time on the same day [2] Strategic Partnerships and Subsidiaries - Evogene collaborates with various subsidiaries to develop products, including: - Biomica Ltd. focuses on microbiome-based therapeutics [5] - Lavie Bio Ltd. works on microbiome-based ag-biologicals [5] - AgPlenus Ltd. develops next-generation agricultural chemicals [5] - Casterra Ag Ltd. markets superior castor seed varieties for biofuel and other industries [5]
Evogene Announces Completion of Transaction for the Sale of Lavie Bio's Activity to ICL
Prnewswire· 2025-07-08 11:00
Core Insights - Evogene Ltd. has successfully completed the divestiture of the majority of its ag-biologicals subsidiary, Lavie Bio Ltd., to ICL Group Ltd., which includes the transfer of Evogene's MicroBoost AI for AG platform [1][2][4] - The transaction encompasses Lavie Bio's proprietary Biology Driven Design technology platform, microbial bank, advanced development programs, and current commercial products, along with core personnel transferring to ICL [2][4] - Existing strategic partnerships and commercial agreements of Lavie Bio will remain under its ownership, potentially generating future revenues for its shareholders [3] Company Strategy - The divestment aligns with Evogene's broader corporate strategy to unlock the intrinsic value of its subsidiaries and technology [4] - ICL aims to enhance its position in the global ag-biologicals market by integrating Lavie Bio's capabilities with its own R&D expertise and sales network, thereby advancing sustainable agricultural solutions [4] Technological Overview - Evogene utilizes three technological engines: MicroBoost AI, ChemPass AI, and GeneRator AI, focusing on the discovery and development of products based on microbes, small molecules, and genetic elements respectively [5] - The company aims to revolutionize life-science product development by leveraging big data and artificial intelligence to increase success rates while reducing development time and costs [5]
Evogene Announces Completion of First-In-Class Foundation Model for Generative Molecule Design, Developed in Collaboration with Google Cloud
Prnewswire· 2025-06-10 11:00
Core Insights - Evogene Ltd. has completed its generative AI foundation model, version 1.0, for small molecule design, developed in collaboration with Google Cloud, addressing the challenge of identifying novel small molecules for pharmaceutical and agricultural applications [1][6] - The new model enhances the capabilities of ChemPass AI by enabling simultaneous consideration of multiple complex product requirements, which is crucial for innovation and securing intellectual property [3][4] Company Developments - The foundation model achieves approximately 90% precision in novel molecule designs, a significant improvement over traditional methods which have around 29% precision [4] - The model is built on a dataset of approximately 38 billion molecular structures and utilizes Google Cloud's advanced AI infrastructure, ensuring scalability for future enhancements [5] - Evogene is already working on version 2.0 of its generative AI model, focusing on enhanced flexibility for multi-parameter optimization tailored to specific therapeutic and agricultural needs [6] Industry Implications - The generative AI model is expected to reduce late-stage failures in pharmaceutical R&D and facilitate the development of effective, sustainable, and proprietary agricultural chemicals [6] - The model's ability to create novel, patentable molecules positions Evogene to significantly impact drug discovery and agricultural product development [3][6]
EverGen Infrastructure Corp. Announces Participation in the 2025 Canadian Climate Investor Conference
Newsfile· 2025-06-09 22:19
Company Overview - EverGen Infrastructure Corp. is a Canadian renewable energy company focused on waste-to-energy projects and establishing a renewable natural gas infrastructure platform across Canada [2] - Since its incorporation in May 2020, EverGen has been acquiring, developing, owning, operating, and consolidating a portfolio of compost, renewable natural gas, waste-to-energy, and related sustainable infrastructure projects [2] - The company currently operates two renewable natural gas production facilities: Fraser Valley Biogas in Abbotsford, British Columbia, and Grow the Energy Circle Ltd. in Lethbridge, Alberta, along with two composting facilities: Pacific Coast Renewables and Sea to Sky Soils, both located in British Columbia [2] Industry Context - The Canadian Climate Investor Conference (CCIC) is hosted by the Toronto Stock Exchange and TSX Venture Exchange, aimed at bringing together clean technology and renewable energy companies with climate-conscious investors [3] - The conference focuses on showcasing clean technology investments and aims to democratize the ability for investors to participate in the growing clean technology ecosystem [4] - The event is designed to facilitate the sharing of ideas and accelerate the deployment of capital necessary for building a sustainable future in Canada [3][4] Event Participation - EverGen Infrastructure Corp. will be presenting at the 2025 Canadian Climate Investor Conference on June 11, 2025, at the Arcadian Court in Toronto, Ontario [1]
EverGen Infrastructure Corp. Announces Closing of First Tranche of Private Placement and Change of Management
Globenewswire· 2025-05-22 05:21
Core Viewpoint - EverGen Infrastructure Corp. has successfully closed a Private Placement transaction with Ask America, LLC, raising CAD$5,000,000 and undergoing a significant Change of Management [1][2][6]. Private Placement - The first tranche of the Private Placement involved the issuance of 8,333,333 Common Shares at a price of $0.60 per share, resulting in gross proceeds of CAD$5,000,000 [2]. - The Company anticipates additional tranches of the Private Placement, potentially raising up to CAD$7,000,000 in total [2]. - The Common Shares from the Private Placement are subject to a four-month hold period under applicable securities laws [3]. Change of Management - A majority of the executive officers and directors resigned, with a new management team appointed, including Chase Edgelow as CEO and Ron Green as COO [6]. - The new Board of Directors consists of Chase Edgelow, Varun Anand, Blake Almond, and Mischa Zajtmann, and these changes were approved by a majority of shareholders [6]. Shareholder Impact - Following the Private Placement, Ask America holds approximately 37% of the issued and outstanding Common Shares on a non-diluted basis and about 34% on a fully diluted basis [8]. - Prior to the Private Placement, Ask America did not own any securities of the Company [8]. Equity Incentive Grant - The Company granted 1,500,000 stock options, 150,000 deferred share units, and 350,000 restricted share units to certain directors and officers as part of its equity incentive plan [10]. - The stock options have an exercise price of $0.60 per Common Share and a seven-year term, with vesting occurring over three years [10]. Company Overview - EverGen Infrastructure Corp. is a Canadian renewable natural gas infrastructure platform focused on combating climate change and promoting sustainable energy solutions [11]. - The Company is headquartered on the West Coast of Canada and is involved in acquiring, developing, and operating renewable energy projects [11].
EverGen Infrastructure Corp. Announces Receipt of TSX Venture Exchange Final Approval of Real Property Sale and Update to Previously Announced Financing
GlobeNewswire News Room· 2025-05-15 00:37
Core Points - EverGen Infrastructure Corp. has received final approval from the TSX Venture Exchange for a purchase and sale agreement related to the disposition of a property in Abbotsford, B.C. for a total purchase price of CAD$2,620,000 [1][2] - The transaction includes a deferred payment of CAD$870,000 to be paid upon the completion of the sale of a separate property owned by the purchasers, expected by the end of May 2025 [2] - The vendor has leased a portion of the property back from the purchasers for up to 20 years, with an annual rent of CAD$186,000, reduced to CAD$124,236 while the deferred amount is outstanding [3] - The transaction is classified as a related party transaction due to the involvement of James Betts, the Chief Operating Officer of the company, and the company is relying on exemptions from certain requirements under Multilateral Instrument 61-101 [4] - EverGen is also updating on a share purchase and reorganization agreement with Ask America, LLC, anticipating gross proceeds of up to CAD$7,000,000, with all material conditions satisfied prior to closing [5] - EverGen is focused on renewable energy projects in Canada and aims for continued growth across North America and beyond [6]
Evogene Schedules First Quarter 2025 Financial Results Release
Prnewswire· 2025-05-08 11:00
Core Insights - Evogene Ltd. is set to release its financial results for Q1 2025 on May 21, 2025, followed by a conference call to discuss these results [1][2] Company Overview - Evogene Ltd. is a computational biology company that utilizes big data and artificial intelligence to innovate life-science product development, aiming to enhance success rates while minimizing development time and costs [3] - The company has established three unique technology engines: MicroBoost AI, ChemPass AI, and GeneRator AI, each focusing on different core components: microbes, small molecules, and genetic elements respectively [4] Subsidiaries and Focus Areas - Evogene operates four subsidiaries: 1. Biomica Ltd. focuses on microbiome-based therapeutics for human disorders using MicroBoost AI [6] 2. Lavie Bio Ltd. develops microbiome-based agricultural biologicals powered by MicroBoost AI [6] 3. AgPlenus Ltd. is engaged in developing next-generation agricultural chemicals for sustainable crop protection using ChemPass AI [6] 4. Casterra Ag Ltd. specializes in high-yield castor seed varieties for biofuel and other industries, utilizing GeneRator AI [6]
EverGen Infrastructure Corp. Announces Private Placement of Common Shares and Entering Into of Share Purchase and Reorganization Agreement
Globenewswire· 2025-04-23 14:09
Core Viewpoint - EverGen Infrastructure Corp has entered into a share purchase and reorganization agreement with Ask America, LLC, which includes a private placement of common shares expected to raise up to CAD$7,000,000 [1][2]. Private Placement - The private placement will involve the issuance of up to 11,666,667 common shares at a price of CAD$0.60 per share, with Ask America agreeing to purchase 8,333,333 shares for CAD$5,000,000 [2]. - A deposit of CAD$1,800,000 has already been paid by the Purchaser, with the remaining CAD$3,200,000 due at closing [2]. - The proceeds from the private placement will be used for working capital and general corporate purposes [2]. Change of Management - Concurrent with the private placement, a majority of the current executive officers and directors will resign, and a new management team will be appointed, including Chase Edgelow as CEO and Ron Green as COO [3]. - The new board will consist of Chase Edgelow, Varun Anand, Blake Almond, and Mischa Zajtmann, marking a significant change in management structure [3]. Management Team Background - Chase Edgelow brings 20 years of experience in energy and infrastructure, previously serving as co-founder and CEO of EverGen [6]. - Ron Green has over 30 years of experience in the energy and infrastructure sectors, with a proven track record in operational excellence [7][8]. - Sean Hennessy, the new CFO, has over 15 years of finance experience in clean energy and infrastructure [9]. - Varun Anand has over a decade of investment experience, particularly in renewable energy [10]. - Blake Almond has 17 years of experience in M&A and capital markets, focusing on circular economy infrastructure [11]. - Mischa Zajtmann, a co-founder of EverGen, has extensive experience in corporate securities and M&A [12]. Corporate Strategy - The company aims to enhance shareholder value through operational excellence, cost optimization, and strategic growth following the private placement and management changes [13][14][15]. - Immediate focus will be on maximizing returns through performance-driven systems and accountability frameworks [13]. Shareholder and Regulatory Approvals - The completion of the private placement and management changes is subject to approval from the TSX Venture Exchange and consent from disinterested shareholders holding more than 50% of common shares [16][17]. Company Overview - EverGen Infrastructure Corp is a Canadian renewable natural gas infrastructure platform focused on combating climate change and promoting sustainable energy solutions [18].