Company urges shareholders to evaluate the significant changes already implemented and vote FOR all Evogene nominees on September 4, 2026, Annual General Meeting
REHOVOT, Israel, Aug. 31, 2026 /PRNewswire/ -- Evogene Ltd. (NASDAQ: EVGN) (TASE: EVGN), a pioneer in computational chemistry specializing in the generative design of small molecules for the pharmaceutical and agricultural industries, today responded to the latest communication from dissident shareholders L.I.A. Pure Capital and Invest-Pro.
The dissidents focus heavily on Evogene's historical performance and call for a wholesale Board replacement. While Evogene acknowledges the challenges of the past, the Company believes shareholders must evaluate the fundamental, decisive transformation already implemented over the past 18 months.
The question is not whether the Company has faced hurdles, but whether the current Board has responded decisively, and whether replacing them with a dissident group lacking a clear, alternative strategy is in the best interest of shareholders.
A Fundamental Transformation is Already Underway
Over the past 18 months, Evogene has taken concrete, measurable steps to build a more focused, capital-efficient, and commercially oriented company:
- Established ChemPass AI™ as our core computational chemistry platform, incorporating autonomous AI agents in collaboration with Google Cloud;
- Signed six drug-development agreements with biotechnology companies and academic institutions;
- Reduced annual cash burn from ~$20.5 million in 2024 to an expected $8.5–$9.5 million in 2026, with further reductions planned for 2027;
- Reduced headcount from 117 to 38 employees;
- Raised $11.1 million in new capital;
- Monetized Lavie Bio for approximately $15.25 million through its sale to ICL;
- Licensed Biomica's Phase I asset to Lishan Biotech; and
- Refocused Casterra on Brazil's sustainable aviation fuel (SAF) market.
These are not future promises; they are actions already taken and results already delivered.
The six recent drug-development agreements provide tangible proof that ChemPass AI™ is gaining external validation. This represents a vital shift in Evogene's business model: leveraging our technology through external partnerships rather than requiring the Company to fund the entire, costly development process alone.
Furthermore, cutting our annual cash burn by more than half while concentrating resources around ChemPass AI™ materially improves the Company's financial profile and creates a sustainable platform for execution.
Board Refreshment: Adding Expertise, Preserving Knowledge & Value
Evogene believes Board refreshment should serve to add relevant, forward-looking expertise, not to eliminate valuable institutional knowledge. To that end, the Company is actively enhancing its Board with:
- Dr. Yael Margolin, bringing world-class expertise in pharmaceutical innovation and commercialization; and
- Mr. Yoshinori Oikawa, bringing extensive global biotechnology and industry experience.
In contrast, to the Company's knowledge, the dissidents propose a new slate of directors who are entirely unfamiliar with Evogene's business and have failed to present any detailed alternative operating, commercialization, or capital allocation plan. Management believes shareholders should not be asked to make a wholesale change of the Board without a clear, transparent understanding of the dissidents' plans.
Notably, Evogene has consistently sought a constructive resolution, including a proposal to add a director appointed by the dissidents to the Board. The dissidents declined, refusing any compromise that did not involve a complete Board replacement (with the sole exception of the CEO). Replacing the Board at this critical juncture would introduce unnecessary and damaging uncertainty at a time when disciplined execution of our commercial strategy is essential.
Vote FOR Evogene's Nominees
Evogene urges all shareholders to vote "FOR" the Company's director nominees at the upcoming Annual Meeting and to disregard the Pure Capital nominees.
If you have any questions or require assistance with voting your shares, please contact the Company's proxy solicitor, Sodali & Co:
Sodali & Co.
(800) 662-5200 (toll free)
or +1 (203) 658-9400
Email: EVGN@investor.sodali.com
About Evogene:
Evogene Ltd. (NASDAQ: EVGN) (TASE: EVGN) is a pioneering company in computational chemistry, specializing in the generative design of small molecules for drug development and ag-chemical products. At the core of its technology is ChemPass AI™, a proprietary generative AI designed to explore vast chemical space and generate novel, highly potent small molecules optimized across multiple critical parameters. Built on this powerful technological foundation, and through strategic partnerships alongside internal product development, Evogene is focused on creating breakthrough products for the pharmaceutical and agricultural industries, driven by the integration of scientific innovation with real-world industry needs.
For more information, please visit www.evogene.com.
Forward-Looking Statements
This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 relating to future events. These statements may be identified by words such as "may," "could," "expects," "hopes," "intends," "anticipates," "plans," "believes," "scheduled," "estimates," "demonstrates," "designed to," "intended to," "with the goal of," or words of similar meaning. For example, Evogene uses forward-looking statements in this press release when it discusses the creation of greater shareholder value and the assumption that the current board and management team of the Company are the right group to continue advancing Evogene's plan and additional planned reduction of cash burn. Such statements are based on current expectations, estimates, projections and assumptions, describe opinions about future events, 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, the aftermath of the recent wars between Israel and each of (i) the terrorist groups Hamas and Hezbollah, (ii) Iran, and (iii) other regional terrorist groups supported by Iran, and any potential destabilizations in Israel, neighboring territories or the Middle East region, and those additional risk factors contained in Evogene's reports filed with the applicable securities authority. In addition, Evogene and its subsidiaries rely, and expect to continue to rely, on third parties to conduct certain activities, such as their preclinical studies, and if these third parties do not successfully carry out their contractual duties, comply with regulatory requirements or meet expected deadlines, Evogene and its subsidiaries may experience significant delays in the conduct of their activities. 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.
Investor Relations Contact:
ir@evogene.com
Tel: +972-8-9311901
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SOURCE Evogene
