Canonic is the first Israeli company shipping cannabis varieties from Israel to Europe, towards planned commercial launch in Europe in 2023
Rehovot, Israel – January 31, 2022 – Canonic Ltd., focused on the development of medical grade cannabis products and a wholly-owned subsidiary of Evogene Ltd. (NASDAQ: EVGN, TASE: EVGN), announced today that it has shipped a first batch of its unique cannabis varieties to Portugal, following receiving approval to export from the Israeli Ministry of Health and Ministry of Agriculture.
As part of its preparations for the planned 2023 commercial launch in Europe, Canonic expects to enter commercial agreements with local growers and manufactures and will work to obtain required regulatory approvals. To this end, the varieties shipped are intended to be grown in semi-commercial scale for lab testing and regulatory examinations, as required by European regulation.
About Canonic Ltd.:
Canonic is a subsidiary of Evogene Ltd. (NASDAQ: EVGN, TASE: EVGN), developing medical Cannabis products utilizing a Computational Predictive Biology (CPB) platform. The Company’s products in development are aimed at improving active compounds yield, genetic stability and Cannabis varieties for specific medical indications. The Company’s strategy is to develop Cannabis varieties in order to commercialize medical Cannabis products independently or through collaborations. Canonic has exclusive access to Evogene’s genomic assets and technology for the development of medical Cannabis products. For more information, please visit: https://www.canonicbio.com/.
About Evogene Ltd.:
Evogene (NASDAQ: EVGN, TASE: EVGN) is 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. The CPB platform, incorporating a deep understanding of biology leveraged 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. 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 Ag. Ltd. For more information, please visit: www.evogene.com.
Forward Looking Statements:
This press release contains “forward-looking statements” relating to future events. These statements may be identified by words such as “may”, “could”, “expects”, “intends”, “anticipates”, “plans”, “believes”, “scheduled”, “estimates”, “demonstrates”, or words of similar meaning. For example, Evogene and Canonic are using forward-looking statements in this press release when they discuss Canonic’s product development and regulatory efforts and commercialization plans for its products. Such statements are based on current expectations, estimates, projections and assumptions, describe opinions about future events, and involve certain risks and uncertainties which are difficult to predict and are not guarantees of future performance. Therefore, actual future results, performance or achievements of Evogene and its subsidiaries 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 the control of Evogene and its subsidiaries, including, without limitation, those risk factors contained in Evogene Ltd.’s reports filed with applicable securities authorities. Evogene and its subsidiaries disclaim any obligation or commitment to update these forward-looking statements to reflect future events or developments or changes in expectations, estimates, projections and assumptions.
|Evogene Investor Contact:||US Investor Relations:
T: +1 646-653-7030
T: +1 646-653-7035