Company: EVGN
Filing Date: 2025-03-27
Form Type: 20-F
Source: 0001178913-25-001092
Chunk: 97

Company: Evogene Ltd.
Filing Date: 2025-03-27
Form: 20-F
Item: Item 4A
Chunk 97
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ngenta, focused on improving seed traits using GM approach. Today, Evogene has a number of smaller
scale collaborations, and we aim to engage in additional collaborations in the future.

Key Performance Indicators

Revenues

Our revenues are principally derived from research and development
payments under our collaboration and licensing agreements and related arrangements with our collaborators. Some of our agreements with
collaborators also provide for success-based payments, such as milestone payments paid by our collaborators upon the occurrence of certain
specified events and royalty revenues based on the sales or transfer of products our collaborators develop that contain, or are based
on, our discoveries, which we license to them. We have not yet generated revenues from royalty payments. In June 2023, Casterra, our subsidiary
that focuses on the development and sale of proprietary improved castor seed varieties, announced that it signed a framework agreement
with ENI for the sale of castor varieties at a commercial scale for biofuel production. Under this agreement, Casterra received an order
totaling $9.1 million. In addition, during June 2023 Casterra received an additional order totaling approximately $2.2 million to supply
castor seeds. During the second quarter of 2024, Casterra received an additional purchase order totaling approximately $440 thousand to
supply castor seeds to a new African country in 2024.

During July 2023, Lavie Bio entered a licensing agreement with
Corteva, conferring exclusive rights to Corteva for advancing and commercializing Lavie Bio's lead bio-fungicides, LAV311 and LAV312.
Lavie Bio received an initial payment of $5 million, in two installments: a first payment of $2.5 million was received during September
2023 and in March 2024, Lavie Bio received the second payment of $2.5 million. In addition, Lavie Bio Ltd. was also eligible for additional
future milestone payments and royalties from Corteva's sales of the products. During November 2024 Lavie Bio announced the cancellation
of this licensing agreement with Corteva. Lavie Bio regained full rights and freedom to operate the licensed technology and the lead bio-fungicide
candidates. On February 16, 2024, AgPlenus entered into a Licensing and Collaboration Agreement with Bayer for the development of a new
sustainable weed control solution. This agreement grants Bayer an exclusive license for the development and commercialization of products
developed within the collaboration. According