Lavie Bio
successfully completed testing of Yalos™ for winter wheat and will
commence sales across the US for the 2024-2025 season
REHOVOT, Israel, July 2, 2024
/PRNewswire/ -- Lavie Bio Ltd., a leading ag-biologicals
company and a subsidiary of Evogene Ltd. (Nasdaq: EVGN) (TASE:
EVGN), is pleased to announce the commercial expansion of its
bio-inoculant product, Yalos™, to winter wheat, following
successful trials. This expansion effectively doubles the potential
market for Yalos™ compared to markets in which Lavie Bio already operates. Winter wheat growers
across the US will have access to Yalos™ for the upcoming 2024-2025
season.
Winter wheat is one of the crucial crops in North America and globally, significantly
contributing to the agricultural economy and food supply. The US is
expected to produce about 1.28 billion bushels in 2024[1], with a
market value, according to Lavie
Bio's estimation, between $5-$10 billion
annually. Introducing Yalos™ to this market offers substantial
potential to capture market share by enhancing crop productivity
and sustainability. To date, Lavie
Bio has focused on the spring wheat market, along with durum
and barley, which together form a smaller market compared to winter
wheat.
During the successful field trials, Yalos™ has demonstrated
enhanced early vigor, biomass, root and shoot development, nutrient
availability, and feed quality in winter wheat. Yalos™ aims to
reduce crop abandonment rates and increase farm productivity
through advanced biological technologies.
In addition, Lavie Bio is
expecting to expand Yalos™ into other key crops, such as soybean
and canola, with ongoing field trials in North America and an expected commercial
launch in 2025. The US soybean market size is estimated by
Lavie Bio at approximately
$56.2 billion in 2024.
"We are thrilled to offer Yalos™ to winter wheat growers," said
Amit Noam, CEO of Lavie Bio. "Yalos™ addresses key growth
challenges and enhances plant health and yield. Our strategy
consistently brings new innovative ag-biological products to the
market, while expanding existing products to more crops and
regions. This expansion is part of our plan for Yalos™ to become a
leading solution for growers in all major field crops, reinforcing
our commitment to advancing agricultural productivity and
sustainability on a global scale."
[1] https://www.nass.usda.gov/Newsroom/2024/05-10-2024.php
About Lavie Bio Ltd.
Lavie Bio, a subsidiary of
Evogene Ltd., aims to improve food quality, sustainability, and
agriculture productivity through the introduction of
microbiome-based ag-biological products. Lavie Bio utilizes a proprietary computational
predictive platform, the BDD platform, powered by Evogene's
proprietary MicroBoost AI tech-engine, harnessing the power of big
data, artificial intelligence, and advanced informatics, for the
discovery, optimization and development of bio-stimulant and
bio-pesticide products.
For more information, please visit www.lavie-bio.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
probability of success while reducing development time and cost.
Evogene established three unique technological engines –
MicroBoost AI, ChemPass AI and GeneRator AI – leveraging Big
Data and Artificial Intelligence and incorporating deep
multidisciplinary understanding in life sciences. Each
technological 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
technological engines to develop products through subsidiaries and
with strategic partners. Currently, Evogene's main subsidiaries
utilize the technological engines to develop human microbiome-based
therapeutics by Biomica Ltd., ag-chemicals by AgPlenus Ltd. and
ag-biologicals by Lavie Bio Ltd.
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 "may", "could", "expects", "hopes" "intends",
"anticipates", "plans", "believes", "scheduled", "estimates",
"demonstrates" or words of similar meaning. For example, Evogene
and its subsidiaries are using forward-looking statement in this
press release when it discusses the ability of Yalos™ potential to
capture market share of winter wheat, Yalos™ ability to reduce crop
abandonment rates and increase farm productivity, the expansion of
Yalos™ into other key crops, such as soybean and canola,
Lavie Bio's entrance into new
markets for biologicals, including Brazil and Europe. Such statements are based on current
expectations, estimates, projections and assumptions, describe
opinions about future events, involve certain risks and
uncertainties which 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, Hamas and Hezbollah 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 the applicable securities authority. In addition,
Evogene and its subsidiaries rely, and expect to continue to rely,
on third parties to conduct certain activities, such as their
field-trials and pre-clinical studies, and if these third parties
do not successfully carry out their contractual duties, comply with
regulatory requirements or meet expected deadlines, Evogene and its
subsidiaries may experience significant delays in the conduct of
their activities. 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.
Investor Relations Contact:
Rachel Pomerantz Gerber I Head of Investor
Relations at Evogene
rachel.pomerantz@evogene.com I Tel: +972-8-9311901
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SOURCE Lavie Bio