Evogene Ltd. (EVGN, Financial) has entered into a definitive agreement for ICL Group to acquire significant assets of its subsidiary, Lavie Bio. The deal, anticipated to be finalized by the second quarter, includes the acquisition of Evogene's MicroBoost AI for AG platform and several critical components of Lavie Bio, a firm specializing in microbiome-based agricultural biologicals.
Under this agreement, ICL will take over Lavie Bio's core team, the BDD technology platform, a comprehensive microbial bank, and extensive data assets. Additionally, ICL will inherit the majority of Lavie Bio's development programs and commercial products. However, Lavie Bio’s current partnerships and contracts will remain with the company, potentially securing future revenue streams for its shareholders.
This strategic move underscores Evogene's focus on enhancing its proprietary platforms while allowing ICL to expand its capabilities in the growing agricultural biologicals sector. The acquisition is set to bolster ICL's portfolio with advanced technological assets from Lavie Bio, positioning them for advancements in sustainable agriculture.
