Lavie Bio Announces a Distribution Agreement with WinField United Canada for its Bio-Inoculant Seed Treatment Yalos™

Rhea-AI Summary

Lavie Bio Ltd. (EVGN) announces an exclusive distribution agreement with WinField United Canada for its bio-inoculant seed treatment Yalos™, targeting spring wheat, durum, and barley crops in Canada. The partnership supports Lavie Bio's 2024 sales growth plan and aims to offer a 4:1 return on investment for farmers, given current market values.

Positive

• Exclusive distribution agreement with WinField United Canada expands market reach
• Yalos™ demonstrated a yield advantage of 3-4 bushels per acre in wheat, durum, and barley
• 4:1 return on investment for farmers in current market conditions

Negative

• Potential challenges in engaging additional complimentary distribution partners for expanding sales reach throughout North America

The agreement supports Lavie Bio's 2024 sales growth plan for spring wheat, durum, and barley in Canada

REHOVOT, Israel, Dec. 5, 2023 /PRNewswire/ -- Lavie Bio Ltd., a subsidiary of Evogene Ltd. (Nasdaq: EVGN) (TASE: EVGN), a leading ag-biologicals company that develops microbiome-based, computational-driven bio-stimulant and bio-pesticide novel products, today announced a distribution agreement exclusive to independent retail with WinField United Canada for its bio-inoculant seed treatment Yalos™. This partnership aims to support Lavie Bio's 2024 sales growth strategy in Canada, with a focus on key agricultural regions, including Saskatchewan, Alberta, and Manitoba, where Yalos™ targets spring wheat, durum, and barley crops.

 

The distribution agreement with WinField United Canada remains on point with Lavie Bio's strategy, further advancing the company's sales and distribution capability throughout Canada and the United States. Lavie Bio's intent is to engage with additional complimentary distribution partners to expand its sales reach throughout North America.

Global cereal grain prices have made it highly economical for growers to explore innovative ways to increase cereal grain production. In Lavie Bio's third-party conducted trials, Yalos™ demonstrated a yield advantage of 3-4 bushels per acre in wheat, durum, and barley. The trial data Lavie Bio compiled over multiple years and unique environmental conditions illustrates a 4:1 return on investment (ROI) for farmers, given current market values. Furthermore, Yalos™ requires minimal change to a farmers' existing seed treatment process and aligns with the environmental sustainability needs.

Mr. Greg McDonald, President and General Manager of WinField United Canada, stated:

"WinField United Canada is excited to partner with Lavie Bio in an exclusive independent retailer distribution agreement on Yalos™.  We are committed to the success of independent retailers across Canada, bringing them unique product offerings and partnerships such as this one with Lavie Bio.  With Lavie Bio's expertise in biological solutions and WinField United's proven track record in successfully launching new products and distribution expertise, we look forward to this new partnership. It further advances our commitment to drive innovation in crop production across Canada."

Mr. Russel Putland, EVP Commercial & GM North America of Lavie Bio, stated: "I am very pleased with our WinField United Canada partnership. The distribution agreement expands our market reach and capability as we launch Yalos™ in Canada. WinField United Canada has a proven track record of launching innovative products, which supports our strategy and the adoption of Yalos™. We are proud to introduce, together with WinField, a product that will increase profitability for the Canadian farmer and is also environmentally friendly."

About Yalos™ 

Yalos™ is a microbial based inoculant, that has been designed to empower plant performance based on its ability to improve the availability and efficiency of nutrient use, thereby increasing yield, and improving growers' profitability, while contributing to environmental sustainability and soil health. Yalos™ is a water dispersible granule (WDG) and is to be applied as a seed treatment.

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-inoculant 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 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

About WinField United Canada ULC

WinField United Canada ULC, located in Saskatoon, Saskatchewan, is a wholly owned subsidiary of Land O'Lakes, Inc., an agriculture and food co-operative located in Arden Hills, Minnesota, USA.  WinField United Canada is a leading distribution partner that supports over 350 independently operated agriculture retail locations across Canada. WinField United Canada supports ag retailers and their farm customers to access the newest innovations in adjuvants, biosolutions, crop nutrition, crop protection, and seed to optimize food production for a growing population.

For more information, please visit WinFieldUnited.ca

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", "intends", "anticipates", "plans", "believes", "scheduled", "estimates" or words of similar meaning. For example, Lavie Bio and Evogene are using forward-looking statements in this press release when they discuss Lavie Bio's growth plans in Canada, advancement of Lavie Bio's sales and distribution capability throughout Canada and the United States. Engagement of additional distribution partners to expand its sales reach throughout North America and the increase in the return on investment of farmers by using Yalos^TM. 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 and Hamas and any worsening of the situation in Israel such as further mobilizations or escalation in the northern boarder of Israel, and .those risk factors contained in Evogene's reports filed with the 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.[ 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. 

Evogene Investors' Contact:

Rachel Pomerantz Gerber, Head of Investor Relations at Evogene
Email: rachel.pomerantz@evogene.com
Tel: +972-8-9311901

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SOURCE Lavie Bio

FAQ

What is the exclusive distribution agreement announced by Lavie Bio Ltd. (EVGN)?

Lavie Bio Ltd. (EVGN) has announced an exclusive distribution agreement with WinField United Canada for its bio-inoculant seed treatment Yalos™, targeting spring wheat, durum, and barley crops in Canada.

What is the sales growth plan of Lavie Bio Ltd. (EVGN) for 2024?

Lavie Bio Ltd. (EVGN) aims to support its 2024 sales growth strategy in Canada, with a focus on key agricultural regions, including Saskatchewan, Alberta, and Manitoba, where Yalos™ targets spring wheat, durum, and barley crops.

What is the yield advantage demonstrated by Yalos™ in wheat, durum, and barley?

Yalos™ demonstrated a yield advantage of 3-4 bushels per acre in wheat, durum, and barley.

What is the return on investment (ROI) for farmers using Yalos™?

Lavie Bio's trial data illustrates a 4:1 return on investment (ROI) for farmers, given current market values.

Who is the partner in the distribution agreement with Lavie Bio Ltd. (EVGN)?

WinField United Canada is the partner in the exclusive distribution agreement with Lavie Bio Ltd. (EVGN) for its bio-inoculant seed treatment Yalos™.