Evogene to Participate in Israeli Consortium to Develop Phenotyping Tools and Systems for Precision Agriculture
REHOVOT, Israel, Jan. 29, 2018 (GLOBE NEWSWIRE) -- Evogene Ltd. (NASDAQ:EVGN) (TASE:EVGN), a leading biotechnology company developing novel products for life science markets through the use of a unique computational predictive biology platform, announced today its participation in a three-year Israel Innovation Authority sponsored Phenomics Consortium to develop tools and systems for precision agriculture and innovative development of agriculture products.
In addition to Evogene, the Phenomics Consortium consists of Elbit Systems, Hazera Seeds, Opgal Optronic Industries, Rahan Meristem, Sensilize, the Volcani Center of the Agricultural Research Organization, Ben-Gurion University, the Technion - Israel Institute of Technology and the University of Haifa. The goal of the consortium is to develop plant phenotyping technologies, including the generation of comprehensive agricultural ‘Big-Data’ and the development of artificial intelligence algorithms for real time analysis of phenotypic data. The analysis of this data is expected to assist farmers in managing their crop season more efficiently thereby improving yield per acre. IP developed within the framework of the consortium (not including background IP) will be available for use by each of the consortium members.
It is expected that technologies and comprehensive data to be developed by the consortium will potentially be transformative for precision agriculture plant treatment solutions, while at the same time providing new and advanced capabilities for all science based research and development of agricultural products.
The consortium is expected to span over three years, subject to both re-approval each year and an option to be extended to five years. The grant approved for the consortium for calendar year 2018 is ~$5 million, of which ~$1.4 million to Evogene.
Ofer Haviv, Evogene's President and CEO stated: "We are very happy to join these other leading Israeli companies and academic institutions in this Phenomics consortium. We are confident that the efforts of this consortium will lead to the development of highly innovative tools and systems with multiple applications for the improvement of agriculture. Specifically for Evogene, we believe the availability to us of these next-generation tools and systems, as well as the Ag Big-Data to be created, will provide further enhancements to our unique and broadly applicable predictive discovery platform, which is at the core of all of our product development programs.”
About the Phenomics Consortium:
The Israel Innovation Authority sponsored Phenomics Consortium consists of ten leading Israeli-based companies and academic institutes and has as its objective the utilization of a variety of state-of-the-art technologies to develop tools and systems for precision agriculture. In addition to Evogene, the consortium includes five other leading companies: Hazera, Rahan Meristem; Elbit Systems, Opgal, and Sensilize, and four prominent academic institutions: Technion – Israeli institute of Technology, Agricultural Research Center - Volcani Center, University of Haifa, Ben-Gurion University of the Negev.
About Israel Innovation Authority:
The Israel Innovation Authority, formerly known as the Office of the Chief Scientist of the Ministry of Economy, is responsible for the country’s innovation policy. The Authority is an independent and impartial public entity that operates for the benefit of the Israeli innovation ecosystem and Israeli economy as a whole. Its role is to nurture and develop Israeli innovation resources, while creating and strengthening the infrastructure and framework needed to support the entire knowledge industry.
Evogene (NASDAQ:EVGN) (TASE:EVGN) is a leading biotechnology company developing novel products for major life science markets through the use of a unique predictive biology platform incorporating deep scientific understandings and advanced computational technologies. This platform is utilized by the Company to discover and develop innovative ag-chemical, ag-biological and ag-seed products (GM and non GM), and by two subsidiaries; Evofuel, focused on castor seeds, and Biomica, focused on human microbiome therapeutics. Through its collaborations with world-leading agricultural companies such as BASF, Bayer, DuPont, Monsanto and Syngenta, Evogene has licensed genes, small molecules and microbes to partners under milestone and royalty bearing agreements. For more information, please visit www.evogene.com
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