Rehovot, Israel
July 8, 2025
Evogene Ltd. (Nasdaq, TASE: EVGN), a leading computational biology company utilizing cutting-edge artificial intelligence and predictive biology to drive innovation in life-science product development, today announced the successful completion and closing of the previously disclosed transaction involving the divestiture of the majority of the activities and assets of its ag-biologicals subsidiary, Lavie Bio Ltd., to ICL Group Ltd. (NYSE, TASE: ICL). As part of the transaction, Evogene has also transferred to ICL its proprietary MicroBoost AI for AG platform, which is used to accelerate microbial product development in the agriculture sector.
Pursuant to the definitive agreement originally announced on April 21, 2025, ICL has acquired Lavie Bio’s proprietary Biology Driven Design (BDD) technology platform, microbial bank, pipeline of advanced development programs, and current commercial product offerings. In addition, Lavie Bio’s core personnel will transfer to ICL. Concurrently, Evogene has divested its MicroBoost AI Tech-Engine for Agriculture, a computational engine designed to optimize microbial discovery and development through artificial intelligence, for additional consideration.
It is important to note that Lavie Bio’s existing strategic partnerships and commercial agreements are not part of this transaction and will remain under Lavie Bio’s ownership. These agreements may yield future revenues for the benefit of Lavie Bio’s shareholders.
Ofer Haviv, Chief Executive Officer of Evogene, stated: “The successful completion of this transaction with ICL, a global leader in agricultural technology and crop nutrition, represents a strategic milestone for Evogene. We believe that combining Lavie Bio’s innovative capabilities with ICL’s global reach and operational expertise will significantly advance the ag-biologicals sector and contribute to the development of sustainable agricultural solutions. This divestment is in line with our broader corporate strategy to unlock the intrinsic value of our subsidiaries and technology.”
Dr. Elinor Erez, VP R&D of Growing Solutions, ICL, stated: “This strategic acquisition of Lavie Bio reflects ICL’s continued drive to lead the global ag-biologicals market. By integrating Lavie Bio’s platform with ICL’s R&D expertise in plant nutrition solutions, global sales network, and field-based agronomy teams, we are strengthening our ability to deliver the next generation of biological solutions. This move enhances our end-to-end innovation pipeline and reinforces ICL’s role in advancing sustainable agriculture at scale.”
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