AgPlenus Achieves Milestone in Collaboration with Corteva to Develop Novel Herbicides

Rhea-AI Summary

AgPlenus Ltd., a subsidiary of Evogene Ltd., achieves a milestone in collaboration with Corteva Agriscience for novel herbicides. The successful identification of a new family of molecules with herbicidal effect through a novel Mode of Action marks a significant development in addressing weed resistance challenges in the agricultural industry.

Insights

Agricultural Biotechnology Expert

The discovery and development of novel herbicides with a new Mode of Action (MoA) represent a significant advancement in agricultural biotechnology. The introduction of APCO-12 by AgPlenus, in collaboration with Corteva Agriscience, addresses a critical challenge in modern agriculture: weed resistance. As weeds adapt to current herbicidal treatments, crop yields and farm productivity suffer, necessitating the innovation of new chemical classes that weeds have not yet encountered.

The use of computational technology platforms and AI, such as Evogene's ChemPass, to optimize these molecules for commercial use is a testament to the potential of digital tools in accelerating R&D in the agrochemical industry. The collaboration between AgPlenus and Corteva combines computational prowess with traditional discovery methods, potentially reducing the time and cost associated with bringing new herbicides to market.

For stakeholders, including farmers and investors in the agrochemical sector, this development could lead to enhanced crop protection options and a competitive edge in the market. However, the long-term success of APCO-12 will depend on its efficacy, environmental impact and regulatory approval. The herbicide market's response to a new MoA will also be crucial, as will the ability of the industry to produce and distribute this new class of herbicides efficiently.

Market Analyst

The herbicide market's size, estimated at $42.81 billion in 2024, underscores the economic significance of innovations like APCO-12. For Corteva Agriscience and Evogene, this milestone could have favorable implications for their market positioning and financial performance. The announcement of a new MoA is likely to attract investor interest, as it signals potential growth and a response to a market need for new weed control solutions.

However, the commercialization process will involve rigorous testing, optimization and regulatory hurdles, which can influence the speed at which the product reaches the market. Investors should monitor the progression of this collaboration closely, as successful commercialization could lead to gains in market share for Corteva and Evogene, while failure to deliver a viable product could have the opposite effect.

The impact on the stock market will be contingent on the perceived value of this innovation and its anticipated effect on future revenues. It is also essential to consider the broader agricultural sector's performance and the potential for competitors to introduce similar or alternative solutions, which could dilute the market impact of APCO-12.

Environmental Impact Analyst

The introduction of a new herbicidal MoA has implications beyond the business and financial aspects; it is also of environmental concern. The potential environmental benefits of APCO-12 could be substantial if it proves to be effective at lower doses or if it possesses a more favorable environmental profile than existing herbicides. Reduced chemical usage aligns with global sustainability goals and can mitigate the negative impacts of agrochemicals on ecosystems.

Conversely, the environmental risks associated with introducing a new chemical class must be carefully evaluated. The long-term ecological effects, potential for bioaccumulation and impact on non-target species are critical factors that regulatory bodies will assess. The development of APCO-12 should be monitored not only for its commercial viability but also for its adherence to increasingly stringent environmental regulations and standards.

Stakeholders must weigh the benefits of improved weed control against the potential environmental risks. A balance between agricultural productivity and ecological preservation is essential for the acceptance and success of new herbicidal solutions like APCO-12.

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 

View original content:https://www.prnewswire.com/news-releases/agplenus-achieves-milestone-in-collaboration-with-corteva-to-develop-novel-herbicides-302081302.html

SOURCE AgPlenus Ltd.

FAQ

What milestone did AgPlenus Ltd. achieve in collaboration with Corteva Agriscience?

AgPlenus Ltd. achieved the successful identification of a new family of molecules with herbicidal effect through a novel Mode of Action (MoA) APCO-12.

What is the estimated size of the herbicide market in 2024?

The herbicide market is estimated to be $42.81 billion in 2024.

What is the focus of the collaboration between AgPlenus and Corteva Agriscience?

The collaboration aims to develop a new Mode of Action (MoA) herbicide by merging Corteva's product discovery expertise with AgPlenus's computational technology platform.

Who is the VP of Crop Protection Discovery and Development at Corteva?

Vid Hegde is the VP of Crop Protection Discovery and Development at Corteva.

Who is the CEO of AgPlenus?

Dr. Dan Gelvan is the CEO of AgPlenus.