Company: EVGN
Filing Date: 2025-03-27
Form Type: 20-F
Source: 0001178913-25-001092
Chunk: 110

Company: Evogene Ltd.
Filing Date: 2025-03-27
Form: 20-F
Item: Item 4A
Chunk 110
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 Lavie Bio received an initial payment worth approximately $5 million in two installments
(a first payment of $2.5 million was received during September 2023 and a second payment of $2.5 million was received on March 2024).
In November 2024, Lavie Bio announced the cancellation of this licensing agreement with Corteva. Lavie Bio regained full rights and freedom
to operate to the licensed technology and the lead bio-fungicide candidates.

Evogene Ag-Seed Division Awarded €1.2M
Horizon Grant

On May 9, 2023, Evogene announced that it has been granted an EU
Horizon grant of €1.2 million, to support the creation of oil-seed crops that have high carbon-dioxide assimilation and enhanced
drought tolerance. The project, Crop4Clima, has an overall budget of €2.5 million and is expected to be executed over 32 months.
In May 2023, Evogene received a pre-financing payment of approximately €1.0 million, and in August 2024 Evogene received a second
payment of approximately €0.1 million from the grant mentioned above. This grant follows the successful completion of the Future
Agriculture Consortium's proof-of-concept in 2021, which demonstrated the potential for increased agricultural productivity and environmental
sustainability.

69

Outlook

We expect that our sources of liquidity for 2025 will include cash
on hand, proceeds from collaboration and licensing agreements, revenues from the selling of castor seeds, cash held in our bank accounts,
including bank deposits, proceeds from grants and other financing transactions, including by our subsidiaries.

In the future, cash may serve us in effecting M& A transactions for achieving inorganic
growth in our different segments of operations.

We concluded that the following conditions raised substantial doubt
about our ability to continue as a going concern:

  History of reporting operating losses of approximately $22,210 thousand and $26,508 thousand for the years  
  ended December 31, 2024, and 2023, respectively;                                                            
  History of reporting operating losses of approximately $22,210 thousand and $26,508 thousand for the years  
  ended December 31, 2024, and 2023, respectively;                                                            
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  Net operating cash outflows of approximately $19,700 thousand and $21