Company: EVGN
Filing Date: 2025-03-27
Form Type: 20-F
Source: 0001178913-25-001092
Chunk: 71

Company: Evogene Ltd.
Filing Date: 2025-03-27
Form: 20-F
Item: Item 4
Chunk 71
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 to the EPA for registration in October 2022, and is now undergoing the review process, expected to take 18-24 months before approval. Lavie Bio has been notified by the EPA of general delays in registration process, extending the PRIA (Pesticide Registration Improvement Extension Act) date until further notice. Lavie Bio expects to receive the EPA's approval for LAV311 during 2025.
 
Our R&D activities also are subject to local worker safety water pollution and solid and hazardous waste regulatory programs and periodic inspection.
 
AgPlenus Ltd.
 
Overview
 
In 2015, we initiated our activity for developing ag-chemical products as a division within Evogene, and in 2018, we announced that it had been organized under AgPlenus Ltd., a separate company, wholly-owned by Evogene upon establishment. AgPlenus aims to design effective and sustainable crop protection products (crop protection refers to the science and practice of managing risks of weed, plant diseases, and insects that damage agricultural crops and forestry) by leveraging computational predictive biology and chemistry. AgPlenus’ activities focus on discovery and development of new mode of action, or MoA, crop protection products.
Market
 
According to an article published by Global Market Insight, which is not incorporated by reference herein, the global crop protection chemicals market was estimated at approximately $91.4 billion in 2023 and is expected to grow to over $132 billion by 2032.2 Lack of available solutions for pest control and increasing resistance to existing crop protection solutions lead to a pressing need for novel crop protection products. However, due to current technological limitations and increasing regulatory requirements, the development of crop protection products is lengthy, complicated and expensive.
Competition
 
The ag-chemical R&D market, as described above, can be classified into four key groups of companies: (i) major seed and ag-chemical companies, such as BASF, Bayer, Syngenta Group, FMC and Corteva, with internal research and development units dedicated to development of ag-chemical products, (ii) mid-size ag-chemical companies, mainly Japanese companies focused on the Japanese market, that develop crop protection products, (iii) small to mid-size biotech companies that undertake new approaches to research and development of novel crop protection products, and (iv) academic and agricultural research institutions, which focus on early stage activities.
Business Model
 
AgPlenus’ business model is based on two commercialization avenues:
 
Licensing of product candidates – when product candidates advance towards what