Company: EVGN
Filing Date: 2025-03-27
Form Type: 20-F
Source: 0001178913-25-001092
Chunk: 96

Company: Evogene Ltd.
Filing Date: 2025-03-27
Form: 20-F
Item: Item 4A
Chunk 96
---
Item 4A. Unresolved Staff Comments

None.

60

  ITEM 5.      OPERATING AND FINANCIAL REVIEW AND PROSPECTS  
 ─────────────────────────────────────────────────────────────

The information contained in this section should
be read in conjunction with our consolidated financial statements as of, and for the year ended, December 31, 2024 and related notes and
the information contained elsewhere in this Annual Report. Our financial statements have been prepared in accordance with IFRS as issued
by the IASB. This discussion contains forward-looking statements that are subject to known and unknown risks and uncertainties. As a result
of many factors, such as those set forth under “ Item 3. Key Information - D. Risk Factors” and “ Special Note Regarding
Forward-Looking Statements,” our actual results may differ materially from those anticipated in these forward-looking statements.

Summary

Evogene has four main subsidiaries, each focused on a different
type of product and target market. Each subsidiary has its own board of directors, management team, scientific advisory board, research
and development, or R& D, and business development teams that focus on developing its own pipeline and go-to-market activities. At
the same time, each subsidiary benefits from using Evogene’s technology under an exclusive license from Evogene to use the tech-engines’
discovery and development that are relevant to the subsidiary’s field of activity. The terms of these licenses provide that the
subsidiary owns the discoveries and product candidates that result from the utilization of the respective tech engine, while Evogene retains
all rights to the tech-engines themselves. According to the characteristics of the end-market, the subsidiaries can decide to commercialize
their products independently or in collaboration with partners.

Another business model, which was our main business model until
2014, is product development through collaborations. In this business model Evogene engages with partners for joint development of defined
products, requested by the partners. In this frame, Evogene typically conducts the initial R& D activity, discovery and early-stage
development, while later stage development and commercialization are carried out by the partner. Under this model, Evogene’s potential
revenues include R& D funding for activities that Evogene conducts in the collaboration, milestone payments for when the candidates
advance in our partners’ pipelines and revenue sharing from the end-product.

Until 2014, Evogene engaged in several collaborations of this type
with Bayer, Monsanto, DuPont and Sy