Industry Overview - Downy mildew is a significant foliar disease affecting grapes, causing yield losses of up to 75% in key growing regions [1] - The global fungicide market is valued at over 33.27 billion by 2028, with a compound annual growth rate (CAGR) of 7.9% [2] - There is a rising public interest in environmentally friendly farming practices and concerns about fungal resistance to chemical solutions, leading to a preference for ag-biologicals like LAV321 [1] Company Insights - Lavie Bio conducted field trials for LAV321 targeting downy mildew and late blight in tomatoes, achieving an average efficacy rate exceeding 60%, comparable to traditional copper products [2] - LAV321 was developed through Lavie Bio's Biology Driven Design (BDD) platform, utilizing Evogene's MicroBoost AI technology, aimed at enhancing productivity and sustainability in Integrated Pest Management (IPM) practices [3] - CEO Amit Noam expressed satisfaction with LAV321's performance, achieving a target efficacy of 70% against downy mildew and entering the pre-commercial stage with regulatory processes to begin [4] - Lavie Bio, a subsidiary of Evogene Ltd., focuses on improving food quality and agricultural productivity through microbiome-based ag-biological products [5] Technological Advancements - Evogene employs three unique tech-engines, including MicroBoost AI, to develop life-science based products, enhancing the probability of success while reducing development time and costs [6] - The tech-engines are utilized by Evogene's subsidiaries to develop various products, including ag-biologicals by Lavie Bio [7]
Lavie Bio Advances its Bio-Fungicide LAV321, Targeting Downy Mildew, to Pre-Commercial Stage Following Successful 2024 Field Trial Results