Evogene Ltd 6-K, filed Sep 15, 2022
Evogene Ltd. (EVGN)
6-K
2022-09-15
For: 2022-09-15
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About this 6-K
Evogene Ltd filed this 6-K on September 15, 2022.
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 September 2022
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 ☐
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ____
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ____
CONTENTS
Attached hereto and incorporated by reference herein is the following exhibit:
| 99.1 |
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.
|
Date: September 15, 2022 |
|
EVOGENE LTD.
(Registrant) By: /s/ Yaron Eldad Yaron Eldad Chief Financial Officer |
Exhibit 99.1
INVESTOR PRESENTATION Ofer Haviv, President & CEO September 2022
Forward Looking Statement 2 This presentation contains "forward-looking statements" relating to future
events, and Evogene Ltd (the “Company”), 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
“forward-looking 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, commercialization efforts and timing, product development and launches, estimated market sizes and milestones, pipeline, as well as our capabilities and 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.
Agenda About Evogene Business model Product-oriented subsidiaries Summary Annex I - Financial
Fundamentals 3
DECODING BIOLOGY 4 OUR VISION Revolutionizing life-science based product discovery & development,
utilizing cutting edge computational biology technologies.
Life-science product development Low probability of success with high cost and long
time-to-market Pharmaceutical Industry Ag-chemicals Industry Cost of developing a single pharmaceutical drug In the 1970’s $180 million In recent years >$2 billion Years to develop a new crop protection
product 1995 2000 2005-8 2010-15 8 9 10 11+ Sources: CDER (Center for Drug Evaluation and Research), Food and Drug Administration, Tufts Center for the Study of Drug Development:
https://www.sciencedirect.com/science/article/abs/pii/S0167629616000291?via%3Dihub https://www.forbes.com/sites/matthewherper/2017/10/16/the-cost-of-developing-drugs-is-insane-a-paper-that-argued-otherwise-was-insanely-bad/?sh=7533aa82d459;
Phillips McDougall, 2016; GlobeNewswire, Straight Research2022; SpringerLink, How Much Does It Cost to Research and Develop a New Drug? A Systematic Review and Assessment, August 2021 -
https://link.springer.com/article/10.1007/s40273-021-01065-y; US Congressional Budget Office https://www.cbo.gov/system/files/2021-04/57025-Rx-RnD.pdf
Life-science product development The ultimate case of finding “the needle in the
haystack” Discovery Optimization Development Regulation Agriculture Product Candidates Approved Product Pharma The challenge: Finding the winning candidates out of a vast number of possible prospects that address a complex myriad of
criteria, to reach successful products 6
Utilizing an advanced computational biology platform To identify the most promising candidates
addressing multiple development challenges towards successful life-science products Increase probability of success Reduce time and cost 7 HUMAN HEALTH AGRICULTURE OTHER INDUSTRIES The opportunity
Biology meets disruptive technologies BIG DATA BIOLOGY AI* platform Incorporates deep scientific
understandings together with big data and advanced AI technologies, to successfully discover & guide the development of novel life-science based products. – Computational Predictive Biology *Artificial intelligence 8
Tailor-made Tech Engines for product discovery & development The CPB platform enhances product
discovery and development through dedicated Technology Engines for products based on three core components: Microbes Small molecules Genetic elements MICROBES 9 GENETIC ELEMENTS SMALL MOLECULES
Example of Tech Engine User Interface 10
Discovery Computational selection of the most promising candidates to initiate the product development
process. Development Computational driven solution addressing optimization development challenges for the selected candidates, without impairing their ability to address other product attributes, supporting the way to successful
commercialization. MICROBES GENETIC ELEMENTS SMALL MOLECULES Tailor-made Tech Engines for product discovery & development 11
Plastic Degradation Chemicals Source for Enzymes Oil Spill Clearing Wastewater
Treatments Microbials for Crops Food Human & Animal Probiotics Therapeutic microbials Probiotics Dietary Supplements Building an ’Ecosystem’ around our tech engines ‘Ecosystem’ – Potential Markets for MicroBoost AI 12
2 Computational Biology Peer Companies Company Ticker EVGN DNA SDGR EXAI RLAY 13
Agenda About Evogene Business model Product-oriented subsidiaries Summary Annex I - Financial
Fundamentals 14
Plastic degradation Chemicals Source for enzymes Oil spill clearing Waste-water
treatments Microbials for crops Food Human & animal probiotics Therapeutic microbials Probiotics Dietary supplements Evogene Tech Engine – Potential Addressable Markets MICROBES GENETIC ELEMENTS SMALL
MOLECULES Fragrances Natural food coloring Novel enzymes Improved crops Alternative food Crop protection Chemical stimulants Animal healthcare Animal fertility Advanced wound care Pharmaceuticals Medical device coating Flavors and
Fragrances Gene therapy Cell therapy Diagnostics & precision medicine Medical Cannabis Castor oil 15
Product-oriented subsidiaries powered by Evogene’s technology Establish independent entities focusing
on a defined commercial field with a license to use Evogene’s unique solutions for product development Business Model Microbiome based therapeutics Medical cannabis Ag-solutions for castor Ag-chemicals Ag-biologicals 1 Licensed to use
Evogene’s tech engines: Subsidiaries: 16
Business Model Collaborations powered by Evogene’s technology for the development of innovative
products Joint development with leading companies for defined products utilizing Evogene’s unique solution. Typically, partner leads later-stage development and product commercialization. 2 Powered by Evogene’s technological engines: 17
Evogene Tech Engine – Current Utilization MICROBES GENETIC ELEMENTS SMALL MOLECULES Improved
crops Crop protection Pharmaceuticals Medical Cannabis Microbials for crops Therapeutic microbials Castor oil Ag Seeds 18
Agenda About Evogene Business model Product-oriented subsidiaries Summary Annex I - Financial
Fundamentals 19
20 *Evogene holdings Microbiome based Therapeutics Immuno-oncology GI- gastrointestinal- related
disorders AMR - Antimicrobial resistance Ag Biologicals Bio-Stimulants Bio-Pesticides 93%* 70%* Castor Oil Production Yield improvement and drought tolerance Plant disease Insect control Ag
Chemicals Herbicides Insecticides Fungicides Medical Cannabis High yield & consumer traits Therapeutic traits – currently inflammation & pain 98%* 100%* 100%* Product-oriented subsidiaries $10M SAFE investment (Aug
2022) 28%
Immuno-oncology program Combination therapy for cancer with checkpoint inhibitors Pre-clinical
stage Addressable market size expected by 2026* – $243B GI related disorders Inflammatory Bowel Disorder (IBD) – pre-clinical stage Irritable Bowel Syndrome (IBS) – discovery stage Addressable market size expected by 2026: Inflammatory
Bowel Disorder $22.4B, Irritable Bowel Syndrome** $3.3B Antimicrobial resistance (AMR) Antimicrobial resistance (AMR) Clostridium Difficile Infection (CDI) – discovery stage Methicillin-resistant Staphylococcus aureus (MRSA) – discovery
stage Addressable market size expected by 2026: CDI*** $1.7B, MRSA**** $3.9B Mission: Discovery and development of novel therapies for microbiome-related human disorders using computational biology 2022 IBD – initiate scale-up for GMP
production of drug candidate for IBD Immuno-oncology – first data point readout from proof of concept, first in human study 2023 IBD – Clinical batch production of drug candidate for IBD as preparation for Phase 1 in USA Immuno-oncology –
Pre-IND Meeting with FDA Product Pipeline: | Human
Microbiome *https://www.globenewswire.com/news-release/2019/07/17/1884118/0/en/Cancer-Immunotherapy-Market-To-Reach-USD-242-86-Billion-By-2026-Reports-And-Data.html **https://www.grandviewresearch.com/press-release/global-inflammatory-bowel-disease-ibd-treatment-market?utm_source=blog.goo.ne.jp&utm_medium=referral&utm_campaign=Vrushali_7Aug_hc_InflammatoryBowelDiseaseTreatmentMarket_pr&utm_content=Content;
https://www.grandviewresearch.com/industry-analysis/inflammatory-bowel-disease-ibd-treatment-market#:~:text=Report%20Overview,4.4%25%20from%202018%20to%202026..,
https://www.bloomberg.com/press-releases/2019-07-23/ibs-treatment-market-size-worth-3-3-billion-by-2026-cagr-10-1-
grand-view-research-inc ***https://www.grandviewresearch.com/press-release/global-inflammatory-bowel-disease-ibd-treatment-market?utm_source=blog.goo.ne.jp&utm_medium=referral&utm_campaign=Vrushali_7Aug_hc_InflammatoryBowelDiseaseTreatmentMarket_pr&utm_content=Content;
https://www.grandviewresearch.com/industry-analysis/inflammatory-bowel-disease-ibd-treatment-market#:~:text=Report%20Overview,4.4%25%20from%202018%20to%202026..www.globaldata.com/global-clostridium-difficile-infections-market-approach-1-7-billion-2026/ ****www.prnewswire.com/news-releases/global-methicillin-resistant-staphylococcus-aureus-mrsa-drugs-market-to-reach-over-us-39-billion-by-2025-upsurge-in-the-consumption-of-antibiotics-across-the-globe-to-fuel-market-growth-observes-transparency-market-research-676949593.html Expected
main near-term value drivers: Powered by 21
Improved antitumor activity in mice following the administration of BMC128, compared to treatment with
immunotherapy alone Example Results: Immuno-Oncology program – BMC128 potentiate the effect of anti-PD-1 therapy (immunotherapy) in-vivo | Human Microbiome Powered by 22
| Ag-Biologicals Bio-stimulants (yield enhancement) Bio-stimulants 1– focus on wheat and additional
cereals. Seed treatment/soil application. Commercial stage, first sales planned in 2022. Addressable market size*: for spring wheat ±25M acres. Bio-stimulants 2 – focus on corn and additional crops. Seed treatment. Pre-development stage.
Addressable market size*: for corn – 120M acres. Bio-pesticides (crop protection) Fruit rots – focus on fruit and vegetables. Foliar application. Target market*: >$1B of chemicals usage. Development stage 2. Downey Mildew – Focus on fruit
and vegetables. Foliar application. Development stage 1. Target market*: >$350M of chemicals usage. Seedling disease – for corn and soy. Seed treatment. pre- development stage. Target market*: >$500M. Bio-insecticides – for corn and
soy. Seed treatment/foliar. Pre-development stage. Target market *: >$1.5B existing traits & chemicals market. 2022 Bio-stimulants – build infrastructure for scale-up in ‘Thrivus™’ sales for spring wheat in 2023 Fruit rot
bio-fungicides – file for regulatory approval for leading product candidate LAV.311 targeting fruit rot 2023 Bio-stimulants – ‘Thrivus™’ product sales expansion in US and Canada for spring wheat Bio-fungicides – final preparation for filing
for regulatory approval for leading product candidate LAV321 or LAV322 for downy mildew *Dean ,R ,.et al. (2012). The top 10 fungal pathogens in molecular plant pathology. Molecular Plant Pathology 13:414-430
(https://academic.oup.com/fqs/article/2/3/111/5057759) Powered by Mission: Improve food quality, sustainability and agriculture productivity through microbiome based ag-biologicals technology and products Product Pipeline: Expected main
near-term value drivers: 23
| Ag-Biologicals Example of treatment against Botrytis Cinerea vs untreated control in vines Lavie
Bio’s wheat field in the USA during harvest – Sales initiated in 2022 Example Results: Thrivus™ inoculant LAV 311 & LAV 312 leading bio-fungicide candidates for fruit rot LAV311 & LA V312 28% 72% $10M SAFE investment by ICL
(Aug 2022) Thrivus ™ Powered by 24
Herbicides Novel MoA (Mode-of-Action) selective/non-selective herbicides Relevant target crops –
including Cereals, Rice, Corn, Soybean, Cotton, Canola, Sugar Beet, Other TBD Addressable market size expected by 2022*: $34B Insecticides Novel SoA (Site-of-Action) – resistance breaking Addressable market size expected by 2022*:
$19B Fungicides Novel MoA Relevant target crops – including Cereals, Rice, Corn, Soybean, Cotton, Canola and Sugar Beet Addressable market size expected by 2025*: $24.5B 2022 New MoA Herbicide – identify collaboration partner, finalize
business terms (term sheet) New MoA Herbicide – expand data package for APTH1, AgPlenus’ leading new MoA protein for the development of novel herbicides 2023 New MoA Herbicide – new collaboration agreement New MoA Herbicide – phase
advancement in one of the ongoing collaborations New MoA Fungicide program – initial greenhouse readouts of designed compounds on target pest Platform Tools POC – recent AgTech raises focused on platform capabilities Product Pipeline: |
Ag-Chemicals *https://www.prnewswire.com/news-releases/global-3410-billion-herbicide-market-2022---research-and-markets-300458389.html; https://www.marketsandmarkets.com/Market-Reports/insecticide-market-142427569.html Expected main near-term
value drivers: Powered by Mission: Design next-generation, effective and sustainable crop protection products by leveraging predictive biology & chemistry 25
Field test of APH1 against a panel of grass and broadleaf weeds – untreated control vs APH1 |
Ag-Chemicals Greenhouse testing of APH1 – modified tobacco plants with resistance trait vs unmodified control (weed) Example Results: New MoA Herbicide – APH1 Powered by 26
MetaYield+ Products High metabolite content & consumer traits Stable enhancement of total plant
compounds focused on THC, CBD and terpenes Total cannabis market size expected by 2024 – $42.7B* Precise+ Products Therapeutic traits – focus on patients’ well-being Stable enhancement of specific active compounds to address desired effects
(e.g. pain management and reduced inflammation) Total medical cannabis market size expected by 2024 – $25.6B* 2022 MetaYield+ – Commercial launch and sales of second generation products in Israel Precise + – Collect pre-clinical data to
support commercial launch in 2023 2023 Commercial launch and initial sales of first product in Europe Commercial launch of products addressing patients' well-being, such as reducing pain or inflammation Product Pipeline: | Medical
Cannabis *Source: Arcview Market research/BDS Analytics 2020 Expected main near-term value drivers: Powered by Mission: Commercialize effective, precise and stable medical cannabis products, based on decoding plant genetics, for optimized
therapeutic effect and patient well-being 27
First Products: The ‘G-nnovation‘ series | Medical Cannabis Powered by G200 inflorescence T20/C4
Indica Top Reported Effects Pain Relief Relaxation Improved quality sleep Muscle Relaxation G150 inflorescence T20/C4 Sativa Top Reported Effects Pain Relief Relaxation Focus Uplifting 28
Microbiome Based Therapeutics Ag-Biologicals Ag-Chemicals Medical Cannabis Company Market Cap/ Funds
Raised Company Market Cap/ Funds Raised Company Market Cap/ Funds Raised Company Market Cap/ Funds Raised $221m* Raised $116m# (Sep 2021) Raised $70m# (July 2022) $1.1B* $124m* €216m* Raised $44m# (Jun
2022) $4.2B* $860m* $860m* Raised $55m# (Feb 2020) $34m* $77m* Raised $430m $2.0B## rep. (July 2021) Raised $10m# (Oct 2021) $221m* Main Subsidiaries: Industry Landscape * Public company – market cap as of September 12, 2022
(yahoo.finance.com). Bioceres subsidiaries include Rizobacter and Marrone Bio Innovations. # Private company – amount raised in most recent financing round (crunchbase.com) ## Private company -
https://www.forbes.com/sites/amyfeldman/2021/07/19/pivot-bio-nears-2-billion-valuation-as-it-raises-whopping-430-million-to-replace-synthetic-fertilizers-on-corn-and-wheat- sustainability/?sh=96ed3572273a The table presents valuation or amount
raised in last financing round for a selected number of companies active in the same industries as our subsidiaries, is not a comprehensive list, and is presented for informational purposes only. There may be significant differences between
companies active in each industry, and therefore the table does not indicate potential value for our subsidiaries, which may have no correlation to the information presented in the table and may differ significantly. Such differences may
include, among others, company maturity stage, volume of sales, if any, product types, target market segments, pipeline maturity, technology, and financial position. 29
Agenda About Evogene Business model Product-oriented subsidiaries Summary Annex I - Financial
Fundamentals 30
144 Employees 28% PhDs 56% Women Microbiology 31 Biochemistry Computational
chemistry Bioinformatics Incl. chairperson of the board As of September 13, 2022
Summary Revolutionizing life-science based product discovery & development, utilizing cutting edge
computational biology technologies. Strong computational predictive biology (CPB) platform leveraging synergies between a deep understanding of biology, Big Data and AI Business ecosystem for product development around tech engines MicroBoost
AI, ChemPass AI & GeneRator AI Biomica – Human-microbiome based therapeutics Lavie Bio – Ag-biologicals AgPlenus – Ag-chemicals Canonic – Medical cannabis Significant catalysts to release value expected in the coming
quatres Market-orientated subsidiaries generating value Computational Biology is an extremely attractive sector in its infancy with leading AI companies including Google newly involved Dual based business model via subsidiaries or
collaborations 32
THANK YOU!
Annex I: Financial Fundamentals 34
Key Financials: Balance Sheet Key Points: Consolidated cash position: ~$35 million as of 30.06.2022, of
which ~$4 million is appropriated to Lavie Bio In addition, Lavie Bio received $10M in Q3 2022 from ICL No bank debt Full year net cash burn rate, excluding exchange rate impacts in 2022, is expected to be in the range of $26-28 million
($18-20 million excluding Lavie Bio) Listed on TASE (2007) and NASDAQ (2016) 35 Thousands of US $ 30.06.2022 31.12.2021 Current Assets 37,705 56,890 Long-Term Assets 18,957 19,414 Total Assets 56,662 76,304 Current
Liabilities 5,541 6,882 Long-Term Liabilities 5,724 6,002 Equity attributable to equity holders of the Company 36,949 53,653 Non-controlling interest 8,448 9,767 Total Liabilities & Shareholders Equity 56,662 76,304 35