Evogene (EVGN) is an Israeli computational biology company.
Evogene primarily develops platforms for the biotechnology industry that use big data, advanced algorithms, and artificial intelligence (“AI”) to better observe microbes, molecules, and genetic elements.
The company’s platform is most commonly used for product development in the plant, cancer, and cannabis markets. It helps increase the success of life-science products by increasing efficacy.
However, it also enables researchers to cut down on the toxicity of certain ingredients in supplements and medications. Its computational predictive biology platform assists in reducing the time and cost spent on development as well.
While EVGN is still a relatively young company, it has gained the attention of larger players in the space. Corteva, Bayer, and ICL Group are all strategic partners of the company.
And it’s no surprise why. In EVGN’s most recent quarter, the company noted positive progress within three of its subsidiary operations.
EVGN highlighted that pre-clinical data for its microbiome therapeutic candidate in immuno-oncology saw a 50% response rate in reducing tumor activity in a breast cancer model.
The company added that it also reached distribution agreements for the commercialization of cannabis products in Israel in 2022.
Meanwhile, EVGN said it made major progress in collaboration with Corteva on novel herbicides. The company said testing results showed the company can create herbicides that target specific weeds without hurting crops.
So, given EVGN continues to report positive data, this momentum could help provide a boost to the penny stock’s shares moving forward.
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