EVOGENE LTD. - EVGN STOCK NEWS

Canonic Ltd., a subsidiary of Evogene Ltd. (NASDAQ: EVGN), announced positive outcomes in pre-clinical studies focused on inflammation and pain relief involving specific cannabis varieties. Conducted by Hadassah Medical Center and Migal - Galilee Research Institute, these studies support Canonic's Precise product line aimed at medical cannabis. The company has filed a patent application for these cannabis varieties. The first products are projected for release in Israel in 2023, with plans to expand into Europe, as the medical cannabis market is expected to exceed €1 billion in Europe this year.

Biomica, a subsidiary of Evogene (NASDAQ: EVGN), received clearance from the Israeli Ministry of Health to proceed with a Phase I clinical trial for its drug candidate BMC-128. This trial will involve patients with Non-Small Cell Lung Cancer, Melanoma, or Renal Cell Carcinoma, evaluating BMC-128 in combination with Bristol Myers Squibb's Opdivo® (an anti-PD-1 therapy). The study aims to assess the safety and tolerability of this microbiome-based therapy at Rambam Health Care Campus.

Lavie Bio Ltd., a subsidiary of Evogene (NASDAQ: EVGN), has advanced its bio-fungicide program to the pre-commercialization stage, targeting fruit rot diseases. Following three years of vineyard trials in Europe and the U.S., promising results have been reported for LAV.311 and LAV.312. Lavie Bio prioritizes LAV.311 for regulatory submission to the U.S. EPA in 2022, aiming for a product launch in 2024. With an estimated $1 billion global market for fruit rot control, this advancement may present significant opportunities as concerns about chemical resistance rise.

Sapiens International Corporation (NASDAQ: SPNS) announced that Hiscox EU has successfully implemented Sapiens IDITSuite and Sapiens Intelligence in Germany. This deployment aims to enhance operational efficiency and productivity by up to 25% by 2025. Hiscox's multi-year IT strategy focuses on building a connected insurance ecosystem across Europe, starting with Germany and expanding to five additional countries. This transformation is expected to ensure sustainability and profitability amid increasing regulatory pressures.

Biomica, a subsidiary of Evogene (NASDAQ: EVGN), announced positive results from pre-clinical studies of its IBD drug candidate, BMC333. This candidate, combining four bacterial strains, has shown efficacy in reducing inflammation associated with inflammatory bowel diseases (IBD), such as ulcerative colitis and Crohn's disease, in animal models. The IBD treatment market was valued at USD 19.2 billion in 2020. Following encouraging results, Biomica plans to scale up development of BMC333 in 2022 and proceed with further pre-clinical studies.

Evogene Ltd. (NASDAQ: EVGN) reported its financial results for the first nine months and third quarter of 2021, ending September 30. The company holds a strong cash position of $61.6 million, with cash usage of $17.3 million in the first nine months, primarily due to increased R&D and BD efforts. Notable advancements include Biomica's clinical trial agreement with Rambam Health Care, Canonic's early product launch, and Lavie Bio's inoculant rollout planned for 2022. However, the company posted a net loss of $8.3 million in Q3 2021, up from $5.4 million in Q3 2020, driven by rising operational costs.

Evogene Ltd. (NASDAQ: EVGN) has secured funding from the Israeli Innovation Authority (IIA) for a second 18-month phase of the CRISPR-IL consortium, aimed at enhancing its AI-based genome-editing platform, Go-Genome. The IIA's approval involves a budget of approximately ILS 45 million (about $14.4 million). The upcoming phase will focus on improving editing efficiency and specificity through extensive genome-editing experiments. This initiative could propel new commercial directions for Evogene, which is also exploring product development using the Go-Genome platform in various life-science sectors.

Evogene's subsidiary, Lavie Bio, has launched its first microbiome-based inoculant, result™, aimed at improving wheat yield. Set for limited marketing in North Dakota for the 2022 spring wheat season, result™ is projected to enhance farmers' profits by up to 50%, offering an additional $20 per acre. Field trials indicate a potential increase of 3-4 bushels per acre compared to industry benchmarks. Lavie Bio plans to expand distribution and production capabilities, leveraging its BDD platform that utilizes AI and big data for product development.

On October 27, 2021, Biomica Ltd., a subsidiary of Evogene (NASDAQ: EVGN), and Rambam Health Care Campus announced a clinical trial agreement to initiate a first in-human proof-of-concept study for BMC128, Biomica's innovative drug candidate targeting refractory cancers. The trial aims to evaluate the safety and tolerability of BMC128 in combination with anti-PD-1 therapy in patients with Non-small Cell Lung Cancer, Melanoma, or Renal Cell Carcinoma. This study follows promising preclinical results showing enhanced anti-tumor activity, pending approval from the Israeli Ministry of Health.