Evogene expands to four pharma partnerships, secures $3.4M warrant proceeds
EVGN•Evogene expanded its pharma pipeline to four partnerships, adding Systasy-LMU, Queensland University of Technology and Unravel Biosciences, and secured a second Google Cloud integration for its ChemPass AI™ platform. It expects $2.9M and $1.35M dividends from Lavie Bio and Biomica in Q2 and raised $3.4M via warrant exercises.
1. Collaboration and AI Platform Expansion
In Q1 2026, Evogene added three new pharma collaborations with Systasy Biosciences–LMU University Hospital Munich, Queensland University of Technology and Unravel Biosciences, bringing its total publicly disclosed pharma partnerships to four. The company also launched its second collaboration with Google Cloud to integrate advanced AI agents into ChemPass AI™, aiming to automate dataset generation and enhance small-molecule discovery.
2. Agricultural Programs and Project Termination
Evogene’s AgPlenus subsidiary advanced herbicide programs with Corteva and progressed an internal fungicide lead optimization, demonstrating the effectiveness of AI-driven design. However, the herbicide project with Bayer was discontinued after the protein target failed to meet product criteria, returning all licensed assets to AgPlenus.
3. Non-Core Wind-Down Dividends
Under its revised strategy, Evogene is winding down non-core units: Lavie Bio approved a $4.25M dividend, of which Evogene will receive approximately $2.9M, and Biomica approved a $2.7M dividend, of which Evogene will receive $1.35M, both distributions expected in Q2 2026.
4. Warrant Exercise Fundraising
In February 2026, an existing investor exercised all Series A and B warrants, generating approximately $3.4M in gross proceeds. In exchange, the investor received new Series A-1 and B-1 warrants for 5,076,924 ordinary shares, exercisable at $1.25 per share.
