Evogene has expanded its pharmaceutical business to six active drug development collaborations, including four agreements added since the beginning of 2026, while retaining significant commercial rights to discoveries emerging from the partnered programs. The structure gives the company potential downstream economics if compounds generated through its ChemPass AI platform advance through development and eventually reach commercialization.
Two of the six collaborations have already completed the initial Hit Identification stage of Evogene’s ChemPass AI computational discovery process. The company said validation results from those programs exceeded partner expectations and that both are progressing toward subsequent development stages.
The commercial-rights component is particularly important because Evogene is not positioning the collaborations solely as near-term research-service agreements. By retaining rights to discoveries generated through the programs, the company could participate economically as successful candidates advance, creating potential longer-duration revenue opportunities beyond the initial discovery work.
Evogene is also developing proprietary drug candidates internally. Its internal discovery program has completed the Hit-to-Lead stage and moved into Lead Optimization, where the company is generating molecules that could become candidates for future preclinical development.
The pharmaceutical work is being supported by a substantial expansion of the underlying ChemPass AI platform. Evogene recently increased its virtual chemical space from approximately 36 billion molecules to 110 billion molecules, giving its computational system a much larger universe of potential compounds to evaluate.
Following a second agreement with Google Cloud, Evogene also integrated autonomous AI agents into its computational workflow. The company said these systems are intended to automate complex research tasks that historically required weeks or months of specialized scientific work and perform them in minutes.
Evogene is applying the same computational approach outside pharmaceuticals. Its crop-protection program targeting Septoria, a major fungal disease, is nearing completion of Lead Optimization, with synthesized molecules undergoing advanced biological testing ahead of greenhouse and field trials.
The expansion of partnered programs comes as Evogene operates from a significantly smaller cost base. The company reduced its workforce from 117 employees in December 2024 to 38 in August 2026, while targeting full-year cash usage of approximately $8.5 million to $9.5 million, compared with $14.4 million in 2025 and $20.5 million in 2024. Evogene has also raised approximately $11.1 million of new capital since the beginning of 2025.
Evogene ended Q2 with approximately $9.3 million of cash and equivalents and used approximately $2.1 million of cash during the quarter. Q2 revenue was approximately $300,000 compared with $500,000 a year earlier, while net loss narrowed to approximately $1.8 million from $4.7 million.
Evogene has also monetized portions of the portfolio it no longer considers core. During Q2, it received approximately $2.9 million from a Lavie Bio dividend and approximately $1.35 million from Biomica, while concentrating operating resources on computational chemistry, pharmaceutical collaborations and selected agricultural programs.
KEY QUOTES:
“We have fundamentally transformed Evogene over the past 18 months. We have moved from a broad portfolio of activities to a highly focused organization centered on our AI-driven computational chemistry capabilities, while substantially reducing our cost structure and cash requirements.”
“At the same time, we are seeing meaningful validation of our technology through new collaborations, progress in our internal drug discovery programs, and major advances in ChemPass AI. The expansion of our virtual chemical space to approximately 110 billion molecules and the integration of autonomous AI Agents represent important steps forward in our ability to discover novel molecules faster and more efficiently.”
“Looking ahead, our priorities are clear: advance our existing pharmaceutical and agricultural programs, establish additional collaborations with leading biotechnology and pharmaceutical companies, advance our internal high-value programs, pursue strategic partnerships in agriculture, and continue to strengthen our computational platform.”
Ofer Haviv, President and Chief Executive Officer of Evogene
