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Evogene Ltd. — Investor Presentation 2023
Aug 23, 2023
6785_rns_2023-08-23_91bf92ad-2e66-45ff-94ad-7943c82a7596.pdf
Investor Presentation
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UNITED STATES SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 OF THE SECURITIES EXCHANGE ACT OF 1934
For the month of August 2023
Commission File Number: 001-36187
EVOGENE LTD.
(Translation of Registrant's Name into English)
13 Gad Feinstein Street, Park Rehovot, Rehovot P.O.B 4173, Ness Ziona, 7414002, Israel
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F ☒ Form 40-F ☐
CONTENTS
Attached hereto and incorporated by reference herein is the following exhibit:
99.1 Lavie Bio Investor Presentation.
Signature
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
EVOGENE LTD. (Registrant)
Date: August 23, 2023 By: /s/ Yaron Eldad
Yaron Eldad Chief Financial Officer
Lavie Bio
Introduction
August 2023

Forward looking statement
This presentation contains "forward-looking statements" relating to future events, and Lavie Bio (the "Company") and its parent, Evogene Ltd. ("Evogene"), may from time to time make other statements, regarding our outlook or expectations for future financial or operating results and/or other matters regarding or affecting us that are considered "forwardlooking statements" as defined in the U.S. Private Securities Litigation Reform Act of 1995 (the "PSLRA") and other securities laws, as amended. Statements that are not statements of historical fact may be deemed to be forward-looking statements.Such forward-looking statements may be identified by the use of such words as "believe", "expect", "anticipate", "should", "planned", "estimated", "intend" and "potential" or words of similar meaning. We are using forward-looking statements in this presentation when we discuss our value drivers, product pipeline, future sales, commercialization efforts and timing, product development and launches, estimated market sizes and milestones, as well as the capabilities of Evogene's and our technology.
Such statements are based on current expectations, estimates, projections and assumptions, describe opinions about future events, involve certain risks and uncertainties which are difficult to predict and are not guarantees of future performance. Readers are cautioned that certain important factors may affect the Company's actual results and could cause such results to differ materially from any forward-looking statements that may be made in this presentation. Therefore, actual future results, performance or achievements, and trends in the future may differ materially from what is expressed or implied by such forward-looking statements due to a variety of factors, many of which are beyond our control, including, without limitation, those described in greater detail in Evogene's Annual Report on Form 20-F and in other information Evogene files and furnishes with the Israel Securities Authority and the U.S. Securities and Exchange Commission, including those factors under the heading "Risk Factors".
Except as required by applicable securities laws, we disclaim any obligation or commitment to update any information contained in this presentation or to publicly release the results of any revisions to any statements that may be made to reflect future events or developments or changes in expectations, estimates, projections and assumptions.
The information contained herein does not constitute a prospectus or other offering document, nor does it constitute or form part of any invitation or offer to sell, or any solicitation of any invitation or offer to purchase or subscribe for, any securities of Evogene or the Company, nor shall the information or any part of it or the fact of its distribution form the basis of, or be relied on in connection with, any action, contract, commitment or relating thereto or to the securities of Evogene or the Company.
The trademarks included herein are the property of the owners thereof and are used for reference purposes only. Such use should not be construed as an endorsement of our products or services.
Lavie Bio – In a Nutshell

Ag-Biologicals Rapidly Growing Market
The ag-biologicals market is expected to grow at a double digit CAGR

Unique AI Tech-Platform and Data Assets
Leveraging AI technology to increase:
- Microbe selection predictability by 10X
- Microbe efficiency by 20%

Broad & Diverse Pipeline
8 programs – new product launch expected every 1-2 years

Strategic Partners & Investors




2 Revenue Generating Graduated Programs



The Challenge
Climate Change
- Unstable weather patterns
- Drought & higher temperatures
- Increased extreme weather
Efficiency Sustainability
Regulatory Restrictions
- Limiting the use of chemicals
- Enforcing regenerative practices
- Regulating food imports
Pest & Disease Outbreaks
- Deregulation of existing pesticides
- Resistance development to chemicals
- Fewer new product introductions
Consumer Demands
- Healthier food
- Higher quality
- Sustainable production
Ag-biologicals is relatively a newcomer to the huge \$200B ag-inputs market



Chemical Fertilizers
Ag-Biologicals Could be the Solution Driving healthier crops, while preserving the soil

Consumer Health
- Less residues
- Less applicator exposure
Regenerative Agriculture
- Improving soil fertility
- Integrated pest management
Sustainability
- Renewable resources
- Increased uptake of fertilizers
However, Ag-Biologicals are Struggling still not efficient as 'traditional' solutions
| Chemical Crop Protection & Fertilizers |
Ag-Biologicals Today |
|
|---|---|---|
| Sustainability | + | +++ |
| Efficiency • Efficacy |
+++ | ++ |
| • Consistency |
+++ | + |
| • Commercial viability |
+++ | + |
Next Generation ?

Lavie Bio – Next Generation Ag-Biologicals Efficient & Sustainable Products
| Chemical Crop Protection & Fertilizers |
Ag-Biologicals Today |
Ag-Biologicals | |
|---|---|---|---|
| Sustainability | + | +++ | +++ |
| Efficiency • Efficacy |
+++ | ++ | +++ |
| • Consistency |
+++ | + | +++ |
| • Commercial viability |
+++ | + | +++ |


Improve food quality, sustainability and agriculture productivity through microbiome based, AI-driven, ag-biological products

Billions of microbes integral to plant-related ecosystems impact the entire plant lifecycle
Surrounding microbes generate nature's largest 'function bank' for plant growth and development
These microbes act as a 'live engine' supporting yield production in the field
The Power of the Microbiome
Billions of microbes make a difference!


Ag-Biological Product Development The ultimate case of finding "the needle in the haystack"

The challenge: finding the winning candidates out of a vast number of possible microbes that address a complex myriad of criteria, to reach successful products
Lavie Bio's Tech Edge: The Biology Driven Design (BDD) Platform

Lavie Bio's proprietary BDD platform leverages advanced computational technologies that incorporate deep scientific understanding together with big data and advanced AI, to successfully discover & guide the development of novel ag-biological products

BDD Platform - Function-Based Product Discovery Decoding the natural diversity of genetic functionality

The platform increases microbe selection predictability by 10X
BDD Platform - Function-Based Product Optimization Maximizing performance of leading microbes

End-to-End Capabilities From product concept to commercialization

Lavie Bio – Breaking the Efficiency/ Sustainability Trade-off
Case Study - Thrivus

Efficiency - Proven Capabilities



*Thrivus has regulatory approval in the US & Canada for all small grains including wheat, Barley, Durum, Oats, soybeans, canola, and others.
Data was gathered in large side-by-side field trials in the US
** In 2023 Thrivus was sold for wheat and Durum. 2023 trials for barley and oats look promising for potential 2024 expansion
Sustainability - Proven Capabilities
Bio-inoculant for cereal grains
Growers are financially rewarded for advancing sustainability

Use Thrivus bioinoculant for \$8/acre
- Realize yield improvement of ± 4 bushels per acre on average from Thrivus
- Enroll in the Ceres Global sustainability program
As part of the Ceres program, paid upon delivery a \$2.50/acre premium for advancing sustainability (subsidized by food companies)

Our Product Pipeline
An engine for new product launch every 1-2 years
| Product program | Product focus | Target market* | Potential expansion** |
2022 | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 |
|---|---|---|---|---|---|---|---|---|---|---|
| Bio-Stimulants | ||||||||||
| Seed treatment, Spring wheat North America |
25M ACRES wheat North America |
500M ACRES |
||||||||
| LAV228 Bio-stimulants 2 |
Seed treatment Soy N.A, Europe |
85M ACRES soy US |
180M ACRES |
|||||||
| Bio-stimulants 3 | Foliar treatment Soy Brazil, US & LATAM |
100M ACRES soy Brazil |
140M ACRES |
|||||||
| Bio-stimulants 4 | Foliar treatment Cotton Brazil, US, India |
40M ACRES cotton Brazil, US, & India |
90M ACRES |
|||||||
| Bio-Pesticides | ||||||||||
| Fruit rots | Foliar treatment Fruits & Veg Europe. N.A |
<\$200M grapes chemicals usage |
+\$800M Additional Fruits & Veg |
|||||||
| LAV321 Downey mildew |
Foliar treatment Fruits & Veg Europe. N.A |
<\$350M grapes chemicals usage |
+\$150M Additional Fruits & Veg |
|||||||
| LAV332 Seedling disease (Pythium) |
Seed treatment, Corn, soy, F&V Europe, N.A |
<\$500M | <\$200M | |||||||
| LAV441, LAV442 Bio-Insecticides |
Seed treatment, Corn, soy Europe, N.A |
<\$1.5B existing traits and chemicals market |
<\$500M |

* Company estimations for the target market of initial crops and disease based on FAO, OECD & USDA data ** Company estimations for total addressable market including potential geographies & crop expansions


Confidential

Product Example A bio-control product for vineyards (fruit rot)
- Consistent performance in preventative application over 3 years (validated by Corteva)
- Superior performance compared to competing biological control products, similar results to chemicals
- Integrated spray programs showed potential reduction of 3-5 chemical applications* per season
- Potential annual product sales >\$100m**


Product Example
A bio-control for vineyards & vegetables (Downey Mildew & Late Blight)
- Field proven against Downy Mildew (grapes) & Late Blight (potato & tomato)
- 2 years testing by 4 multinationals with consistent performance & strong results
- Limited solutions in the market due to pest resistance and regulatory constraints
- Potential annual product sales >\$100m*


Single Product Market Potential
From focused development to large market potential


Business Model

Lavie Bio product
- End-to-end product development
- Production by contractor
- Commercialization via direct channels
- Revenues from sales
Lavie Bio 'tech-inside' product
- End-to-end product development
- Licensing by industry leader
- Commercialization & production by partner
- Revenues from upfront payment, milestones & royalties

Direct Model


G2M Step 1
Bottom-up demand generation and sales through regional distribution partners
Current Thrivus US distribution partners

G2M Step 2
Scale-up through national partners
Potential US national partners

Licensing Model



Corteva to license Lavie Bio's bio-fungicide LAV311 & LAV312 for fruit rot
• Global exclusive license upon reaching diligence milestones
• Deal terms:

• Deal includes LAV311 as main strain and LAV312 as a back-up
Strategic Investors & Partners

Global leader in computational biology
• Strategic Investor: Evogene holdings – 70%
• Strategic partner:
Exclusive long-term license for MicroBoost AI technology for agriculture

Global leader in seeds and ag-chemical products
- Strategic Investor: Corteva holdings – 28% \$27M investment (Aug 2019)*
- Strategic partner: 2 joint bio-pesticide development programs

Global leader in fertilizers and specialty minerals
• Strategic Investor: \$10M SAFE investment (Aug 2022)
• Strategic partner: 2 joint bio-stimulant development programs


We've got the right team to nurture it
Management Team
Amit Noam
| CEO
An extensive experience in the agriculture and healthcare sectors, leading teams in the development and execution of commercialization strategies, driving long-term growth and value-creation for businesses
Michael Ionesco
| VP Research
Innovative research leader with deep biotechnology, big data and informatics expertise
Board of Directors

Ofer Haviv
Chairman of the board Evogene's President and CEO

Sassi Masliah
Vice President Corporate Development at Evogene


Dor Kestecher
| VP Business Development
10+ years of broad experience leading in agriculture product management, strategy, and development

Russel Putland
| EVP Commercial and US General Manager
30+ years of ag commercial leadership roles with 'ground up' experience in large multi-national organizations
Yaron Eldad CFO

Over 25 years of experience in various CFO positions in public and private technology and biotechnology companies,

Amir Bercovitz
Frederic C. Beudot Global Portfolio Leader for
Biologicals at Corteva Agriscience
| VP Development Extensive development and
product expertise in the agbiologicals field for 30+ years – led introductions of 5 commercial products

Elad Aharonson
President, Growing Solutions at ICL


Senior agriculture executive, experienced in marketing, sales, and go-to-market

Summary
A
Ag-biologicals - a \$10B market, forecasted to grow at a 13% CAGR over the next decade
B
Unique tech edge – enables to systematically bring sustainable agbiological products to the market, with comparable efficiency to synthetic solutions
D
Proven end-to-end product development capabilities with 2 graduated programs generating revenues: Thrivus (direct model) & LAV311 (licensing model)
E
Strong market acknowledgement - Corteva, ICL & Evogene as strategic investors & partners
C
Broad & diverse pipeline of 8 bio-stimulant and bio-pesticide products targeting a new product launch every 1-2 years
