- R&D collaboration will focus on discovery of products for improvement of nutrient use efficiency in
selected crops -
REHOVOT, and TEL AVIV, Israel, Feb. 14, 2017 (GLOBE NEWSWIRE) -- Evogene Ltd. (NASDAQ:EVGN) (TASE:EVGN), a
leading company for the improvement of crop productivity, and ICL Innovation, a subsidiary of ICL (NYSE:ICL) (TASE:ICL), announced
today they have entered a multi-year research and development collaboration for the discovery of novel crop enhancers for the
improvement of nutrient use efficiency in selected crops.
Under the terms of the agreement, Evogene will utilize its computational discovery platform to identify the
potential of certain compounds to improve nutrient use efficiency. Successful candidates identified from the collaboration may be
integrated into ICL's product pipeline for further development and formulation. Expected commercialization of products derived from
the joint efforts may occur as early as five years from initiation of the research and development activities.
"This collaboration brings two very unique companies together, each with very distinct capabilities and strong
track record,” said Ofer Haviv, Evogene’s President and CEO. “ICL currently offers one of the industry’s most robust and diverse
fertilizer portfolios, and we believe that, together with Evogene's market leadership in bringing predictive biology to
agricultural innovation, we can introduce novel chemistry-based products for enhancing crop productivity through better utilization
of applied specialty fertilizers."
"This is Evogene's first collaboration in the area of specialty fertilizers, and we are very excited with the
opportunity it presents Evogene to apply its capabilities in a new, and very significant, market segment in agriculture," added Mr.
Haviv.
Eyal Ginzberg, CTO of ICL: "We are excited to embark on this cutting edge research with Evogene, a company well
recognized for its high competency in genomic computational tools. ICL has a unique range of specialty fertilizers including
controlled release fertilizers and solubles for fertigation and foliar application. Our products enhance the efficiency of plant
nutrition, increase yield and improve crop quality. Our research aims to improve nutrient use efficiency with innovative
technologies. We look forward to our collaboration with Evogene, which will give us access to novel crop enhancers to further
enhance our product offering."
About Evogene Ltd.:
Evogene (NASDAQ:EVGN) (TASE:EVGN) is a leading biotechnology company for the improvement of crop productivity for the food, feed
and fuel industries. The Company operates in three key market segments: improved seed traits (addressing yield increase, tolerance
to environmental stresses and resistance to insects and diseases); innovative ag-chemicals (developing novel herbicide solutions
for weed control); and ag-biologicals. Evogene has collaborations with world-leading seed and ag-chemical companies. For more
information, please visit www.evogene.com or contact the Company at info@evogene.com.
About ICL:
ICL is a global manufacturer of products based on specialty minerals that fulfill humanity’s essential needs primarily in three
markets: agriculture, food and engineered materials. ICL is a public company whose shares are dual listed on the New York Stock
Exchange and the Tel Aviv Stock Exchange (NYSE:ICL) (TASE:ICL). The company employs approximately 13,000 people worldwide, and its
sales in 2015 totaled US$5.4 billion. For more information, visit the company's website at www.icl-group.com
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. 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 the Companies may
differ materially from what is expressed or implied by such forward-looking statements due to a variety of
factors, many of which beyond the Companies' control, including, without limitation, those risk
factors contained in the Companies' reports filed with the appropriate securities authority. Evogene disclaims 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: Karen Mazor, Evogene Director, Public and Investor Relations E: IR@evogene.com T: +972 54 22 88 039 Gadi Ohana, Debby Communications E: gady@debby.co.il T: +972 3-5683000
