Evogene Ltd. has announced the acquisition of most of the activity of its subsidiary, Lavie Bio Ltd., by ICL Group, for an aggregate consideration of US$15.25 million.

In addition, ICL will acquire Evogene’s MicroBoost AI tech-engine for the agriculture field for approximately $3.5 million. As part of the transaction Lavie Bio will redeem the SAFE which was made by an ICL affiliate.

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 biostimulant and biopesticide products.

Key assets to be transferred to ICL include Lavie Bio’s core team, the BDD technology platform, the company’s microbial bank and data assets, the majority of the company’s development programs, and its commercial products. Additionally, ICL will acquire Evogene’s MicroBoost AI for AG platform. Lavie Bio’s existing agreements with its current partners will not be transferred to ICL and may generate future revenue for Lavie Bio’s shareholders.

This transaction follows strategic investment by ICL Planet and more than two years of close collaboration between ICL and Lavie Bio, focused on developing innovative biostimulant solutions for row crops facing various abiotic stresses.

The transaction is expected to close during the second quarter of 2025.

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