Blog Exposure – Evogene Signs Collaboration Agreement with BASF for Development of Novel Insecticides

Stock Monitor: Oncobiologics Post Earnings Reporting

LONDON, UK / ACCESSWIRE / May 31, 2018 / If you want access to our free research report on Evogene Ltd (NASDAQ: EVGN), all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=EVGN as the Company’s latest news hit the wire. On May 29, 2018, the Company, which is a leading biotechnology organization developing novel products for life science markets, and BASF, which is one of the world’s leading chemical Companies, declared on May 29, 2018, that they have signed a new collaboration agreement for the development of novel insecticides based on new binding areas (Site-of-Action or ‘SoA’) on key insecticidal target proteins. Register today and get access to over 1,000 Free Research Reports by joining our site below:

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Collaboration to Develop Innovative Solutions for Customers

Discovering effective chemistries that can enhance selectivity between harmful insects and non-target species is amongst the main innovation drivers in the agriculture industry. Harold Bastiaans, Vice President Global R&D Insecticides, BASF Crop Protection, shared that the combination of Evogene’s technology platform with BASF’s leading expertise in research and development (R&D) of new active ingredients will enable the Companies to accelerate the discovery and development of novel, effective, and safe solutions for their customers.

First Milestone in the Collaboration Agreement

The Companies shared that the collaboration reached its first project milestone, which is the joint nomination of a set of novel SoAs. These SoAs have been developed by Evogene and will eventually advance to the discovery phase of relevant bioactive compounds.

In the initial phase of this collaboration, Evogene devised a smart process to detect potential novel compounds that can act on new proteins and binding sites. For this, the Company leveraged its strong background in computational methods. Insecticides are very important for checking insect damage and infestations that affect public health, as well as increasing the quality and quantity of crops.

In this regard, Eran Kosover, Executive Vice President and General Manager of the Ag-Chemicals division at Evogene, expressed his excitement on achieving the first milestone towards the discovery and development of new insecticides. Achieving this milestone is an important step in establishing Evogene’s Ag-Chemicals division’s entry into Insecticides. Besides, it is also an important extension of the Company’s relationship with BASF.

The Companies did not disclose the financial terms of the collaboration.

The Next Phase of the Collaboration

In the next phase of this collaboration, Evogene intends to use its Computational Predictive Biology (CPB) platform for the discovery of the relevant chemistry to address the new SoAs. Subsequently, compounds discovered by Evogene will enter BASF’s insecticide discovery platform for insect efficacy screening and testing to assess the chemistry’s ability to modulate the respective target proteins.

Ofer Haviv, Evogene’s President and Chief Executive Officer (CEO), expressed his pleasure on signing this additional collaboration with BASF. He believes that this collaboration has the potential to bring to market new insecticides that will provide the required solutions to farmers. Besides, the results achieved in this collaboration also highlight the predictive capabilities of Evogene’s CPB platform.

Stock Performance Snapshot

May 30, 2018 – At Wednesday’s closing bell, Evogene’s stock slightly advanced 0.66%, ending the trading session at $3.05.

Volume traded for the day: 24.16 thousand shares, which was above the 3-month average volume of 9.87 thousand shares.

After yesterday’s close, Evogene’s market cap was at $78.54 million.

The stock is part of the Healthcare sector, categorized under the Biotechnology industry. This sector was up 1.4% at the end of the session.

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