Under the agreement, Plantis will be responsible for the growing, marketing and sales of the medical cannabis products generated from the two cannabis varieties, and all expenses related to those activities, and Canonic will be entitled to royalties from revenues generated from these product sales. The two new varieties were developed by Canonic using proprietary sets of novel genetic markers targeting unique differentiation factors. These include a targeted THC content and specific terpenes resulting in a unique desired smell. The new medical cannabis products made from these two varieties, will expand Plantis' product offering and cater to a broader range of customers in Israel.
Canonic, a subsidiary of Evogene, is focused on developing unique cannabis products, with improved active compounds, genetic stability, desired terpene properties and specific medical effects. Canonic utilizes Evogene's proprietary GeneRator AI engine, a computational biology platform, designed to revolutionize the development of genetic-based products. Through precise plant characterization capabilities and with the help of advanced computational analysis, Canonic can significantly accelerate and shorten breeding processes, and bring to the market elite varieties of medical cannabis.
Plantis is a medical cannabis company with the aim of improving, enhancing, and refining the treatment options with medical cannabis. Plantis' owns one of the most advanced agro-tech farms in Israel, breeding, flowering and cultivating cannabis strains at an altitude of 710 meters above sea level in the northern Israel climate, which is an optimal area for growing cannabis.
"Plantis' aims to create a new standard in the field of medical cannabis in Israel, via our sophisticated cultivation farm, which is located in the most optimal site in Israel for growing medical cannabis in terms of air and water quality, and sunlight, which yields even stronger lighting than in indoor facilities most of the year," commented Elad Stern, CEO of Plantis. "The genetics we have licensed from Canonic, which we have chosen from many varieties are excellent and achieve our goal of producing maximum therapeutic value for the patients."
Ofer Haviv, Chairman & CEO of Canonic, added, "We are thrilled to expand our partnership with Plantis. The licensed varieties were selected through Canonic's advanced artificial intelligence algorithms which leverage Evogene's computational predictive biology expertise and its GeneRator AI tech-engine. This new agreement is a testament to the quality of our varieties and the trust that we have built for our products. We believe that the unique attributes of these new strains will be well-received by the Israeli market. We look forward to continuing to expand our relationship with Plantis over the coming years."
Canonic's new investor presentation is available from Evogene's investor relations website at https://evogene.com/investor-relations
About Canonic Ltd.:
Canonic is a subsidiary of Evogene Ltd. (Nasdaq: EVGN, TASE: EVGN), developing medical cannabis products utilizing Evogene's proprietary GeneRator AI tech-engine. The Company's development products aim to improve active compounds, genetic stability, and cannabis varieties for specific medical effects. In addition, the Company's strategy includes the development of cannabis varieties 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 Plantis Ltd.:
Plantis, a medical cannabis company, was established in Israel in 2020 with the aim of improving, enhancing, and refining the treatment options with medical cannabis, in order to help as many patients as possible and to spread the vision of cannabis treatment and the options inherent in it.
Plantis holds licenses to operate in the field of medical cannabis in Israel under the Israeli standard IMC-G.A.P and under the international standard for growing cannabis G.A.C.P.
Plantis Farm breeding, flowering, cultivation R&D, and offices are in an integrated complex in Moshav Keshet at an altitude of 710 meters above sea level, in an optimal area for growing medical cannabis,
Plantis Agro is one of the most advanced agro-tech farms in Israel, designed to improve the quality of medical cannabis in Israel and around the world. The location of the farm was carefully chosen to grow
cannabis in the most natural and best environment.
For more information, please visit: https://plantis.co.il/en
About Evogene Ltd.:
Evogene (Nasdaq: EVGN, TASE: EVGN) is a computational biology company aiming to revolutionize the development of life-science based products by utilizing cutting edge technologies to increase the probability of success while reducing development time and cost. Evogene established three unique tech-engines - MicroBoost AI, ChemPass AI and GeneRator AI – leveraging Big Data and Artificial Intelligence and incorporating deep multidisciplinary understanding in life sciences. Each tech-engine is focused on the discovery and development of products based on one of the following core components: microbes (MicroBoost AI), small molecules (ChemPass AI), and genetic elements (GeneRator AI).
Evogene uses its tech-engines to develop products through subsidiaries and strategic partnerships. Evogene's subsidiaries currently utilize the tech-engines to develop human microbiome-based therapeutics by Biomica, ag-biologicals by Lavie Bio, ag-chemicals by AgPlenus, medical cannabis products by Canonic and castor varieties, for the biofuel and other industries, by Casterra.
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", "hopes" "intends", "anticipates", "plans", "believes", "scheduled", "estimates", "demonstrates" or words of similar meaning. For example, Evogene and its subsidiaries are using forward-looking statement in this press release when it discusses the licensed products' higher level of THCs, particular terpene characteristics, CBD levels, smell, and taste, Canonic's ability to accelerate and shorten breeding processes and bring to the market elite varieties of medical cannabis and the two new strains ability to expand Plantis' product offering and cater to a broader range of customers in Israel. 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, those 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 field-trials and pre-clinical 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.
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SOURCE Canonic
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