Company: EVGN
Filing Date: 2025-03-27
Form Type: 20-F
Source: 0001178913-25-001092
Chunk: 121

Company: Evogene Ltd.
Filing Date: 2025-03-27
Form: 20-F
Item: Item 4A
Chunk 121
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 on sales of such product, in an amount up to 100% of the total
grant received. Alternatively, we may repay the grant as royalties of 2.5% of the income we receive from licensing the product developed
pursuant to the grant. Payment of such royalties is not required if commercial revenues are not generated as a result of the project.

EU Grant

In early 2016, a grant application for a consortium for research in photosynthesis in
which we participate within the EU Horizon 2020 Program for Research and Innovation was confirmed. The consortium’s research program
is focused on an innovative approach to modulate photosynthesis related pathways aiming to improve photosynthetic efficiency. Beyond us,
the consortium includes academic institutions such as the Max Planck Institute of Molecular Plant Physiology and the Institute of Terrestrial
Microbiology, the Weizmann Institute of Science, and the Imperial College of Science, Technology and Medicine. Overall, we received a
total amount of €0.9 million for our participation in the consortium during the five-year project. In March 2023, a follow up grant
of a €1.2 million was confirmed by the Horizon EIC 2022 program to support the creation of oil-seed crops that have high carbon-dioxide
assimilation and enhanced drought tolerance. The overall budget under the program is €2.5 million and Evogene’s other partners
in the project include the Max Planck Institute. In May 2023, Evogene received a pre-financing payment of approximately €1.0 million,
and in August 2024, Evogene received a second payment of €0.1 million from the grant mentioned above. The current project scope’s
timeline is expected to be 32 months.

C. Research
and Development, Patents and Licenses, etc.

We continuously invest and have for at least the last three years
historically invested, in maintaining the technological capabilities of our CPB platform, which includes tailored ‘big-data’
databases, interconnected data hubs and proprietary analysis and prediction algorithms. We also maintain laboratories, greenhouses and
fields for conducting biological validation activities for our computational predictions.

Our ongoing research and development activities are funded mainly
by internal resources, collaboration research and development payments and governmental grants. As of December 31, 2024, 75 of our employees,
representing approximately 64% of our entire work force, were engaged in research and development on a full-time basis. For more information
regarding