- Leading computational biology company Evogene Ltd. (NASDAQ: EVGN) (TASE: EVGN.TA) announced it has raised $10 million in equity led investment from ARK Investment Management and Alpha Capital Anstalt
Evogene Ltd. (NASDAQ: EVGN) (TASE: EVGN.TA) — a leading computational biology company focused on revolutionizing product discovery and development in multiple life-science based industries, including human health and agriculture through the use of its broadly applicable Computational Predictive Biology (CPB) platform — announced recently that it has entered into a definitive agreement with ARK Investment Management and Alpha Capital Anstalt in connection with a registered direct offering of ordinary shares at a price per share of $1.70 for an aggregate cash consideration of $10 million. Of the aggregate investment amount, ARK Invest will invest $7 million and Alpha Capital Anstalt will invest $3 million.
Evogene plans to use the net proceeds from the offering to further develop its and its subsidiaries’ product pipelines, further enhancing and expanding its computational predictive biology platform, and for working capital and general corporate purposes.
Evogene’s CPB platform — incorporating a deep understanding of biology utilized through the power of Big Data and Artificial Intelligence — has been designed to computationally discover and uniquely guide the development of life-science products based on microbes, small molecules and genetic elements. And utilizing the CPB platform, Evogene and its subsidiaries are now advancing product pipelines for human microbiome-based therapeutics through Biomica Ltd., medical cannabis through Canonic Ltd., ag-biologicals through Lavie Bio Ltd., ag-chemicals through AgPlenus Ltd., and ag-solutions for castor oil production through Casterra Ltd.
The shares of common stock offered in the registered direct offering described above are being offered by Evogene pursuant to its shelf registration statement on Form F-3 (File No.333-240249) previously filed and declared effective by the Securities and Exchange Commission on August 10, 2020.
