Evogene selling the activity of Lavie Bio subsidiary to ICL

Evogene (EVGN) signed a definitive agreement under which ICL will acquire the majority of activity of Evogene’s subsidiary, Lavie Bio. As part of the agreement, ICL will also acquire Evogene’s MicroBoost AI for AG platform. The transaction is expected to close during Q2. Lavie Bio is a company in the ag-biologicals industry with a pipeline of microbiome-based ag-biological products. Key assets to be transferred to ICL include Lavie Bio’s core team, the BDD technology platform, the company’s microbial bank and data assets, the majority of the company’s development programs, and its commercial products. Additionally, ICL will acquire Evogene’s MicroBoost AI for AG platform. Lavie Bio’s existing agreements with its current partners will not be transferred to ICL and may generate future revenue for Lavie Bio’s shareholders.