Company: EVGN
Filing Date: 2025-03-27
Form Type: 20-F
Source: 0001178913-25-001092
Chunk: 76

Company: Evogene Ltd.
Filing Date: 2025-03-27
Form: 20-F
Item: Item 4
Chunk 76
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 several biotechnology approaches with the goal of improving seed traits, including: (i) genome editing technologies, enabling deletion or modification of specific genomic regions in the crop’s genome without inserting foreign DNA to the plant, (ii) genetic modification of plants, which involves the direct manipulation of a plant’s genome by inserting a gene into the plant’s DNA, and (iii) advanced breeding methods (e.g. genetic markers), whereby plants with favorable characteristics are selectively crossed through genomic-guided breeding schemes.
 
Market
 
According to the GMO Crops and Seeds - Global Strategic Business Report (published in January 2025. ID: 5141331) 4, which is not incorporated by reference herein, the global market for GMO crops and seeds was estimated at $70.1 billion in 2023 and is projected to reach $102.0 billion by 2030, growing at a CAGR of 5.5% from 2023 to 2030. Additionally, the GMO crops and seeds market in the U.S. was estimated at $18.9 billion in the year 2023, while China, is forecasted to reach a projected market size of $22.7 billion by the year 2030.
Business Model
 
In the Ag-Seeds division activity, we collaborate with companies in the development of improved seed traits. Our partners include recognized seed companies, such as a regional seed companies Tropical Melhoramento & Genética S/A, or TMG, and Finally Foods Ltd. Typically, under these collaborations we perform the discovery phase, during which we discover and validate candidate trait-improving genetic elements. Subsequently, our collaborators, under license from us, test and further develop these discoveries in their product development pipelines, starting Phase I, with the goal of introducing them into commercial crop seeds. For more information on the product development pipeline, please see “— Product Development Pipeline” below.
 
In most cases, we expect to generate revenue from our collaboration agreements at three different channels: first, reimbursement of R&D expenses; second, we expect to receive milestone payments when certain specified results are achieved, such as when a product candidate containing our traits is submitted for regulatory approval; and third, we expect to receive royalty payments once a commercial product containing our traits is launched into the market. Under several collaboration agreements, we also receive research and development service payments to cover the costs of our research.
 
Product Development Programs
 
Scientific Approach
 
The division uses our expertise in plant and bacterial science and genomics to improve commercial seed