- ICL to acquire majority of Lavie Bio's operations from Evogene (EVGN, Financial) alongside MicroBoost AI for AG platform.
- The transaction is anticipated to close in Q2 2025, with Lavie Bio's current partner agreements to remain with existing shareholders.
- Acquisition aims to enhance global innovation in ag-biological products, leveraging Lavie Bio's microbiome-based technologies.
Evogene Ltd. (EVGN), a leader in computational biology, has announced a definitive agreement for ICL to acquire the majority of operations of its subsidiary, Lavie Bio Ltd. This includes the acquisition of Evogene's MicroBoost AI for AG platform. The transaction is expected to close in the second quarter of 2025, subject to customary closing conditions.
Lavie Bio, recognized for its microbiome-based agricultural biological products, will transfer key assets to ICL. These assets include the core team, BDD technology platform, microbial bank, data assets, development programs, and commercial products. However, Lavie Bio's existing partnership agreements will not be transferred to ICL, potentially generating future revenue for Lavie Bio's current shareholders.
This acquisition follows a strategic investment by ICL Planet and over two years of collaboration between ICL and Lavie Bio focused on developing bio-stimulant solutions for row crops facing various stresses. Lavie Bio's integration into ICL is expected to accelerate the development of innovative ag-biological solutions worldwide, enhancing agricultural productivity and sustainability.
The partnership reflects Evogene's strategy to unlock asset value for shareholders, while ICL capitalizes on Lavie Bio's advanced technologies to drive impactful agricultural innovation globally.
