Evogene Ltd. (NYSE:EVGN) Q2 2020 Earnings Conference Call - Final Transcript
Aug 05, 2020 • 09:00 am ET
with an exclusive license to use the CPB platform in their field of activity. I would like to emphasize that these subsidiaries may commercialize their future products either independently or with partners according to the characteristics of the product and end market. Some of the strategic partnerships Evogene and its subsidiaries currently have are with world-leading companies such as BASF, Bayer, Corteva and ICL. Today Evogene has several subsidiaries including AgPlenus in ag-chemicals, Biomica in human microbiome, Canonic in medical cannabis and Lavie Bio in ag biologicals.
I would now like to briefly review some of the primary value-enhancing activities being pursued by our subsidiaries, AgPlenus, Biomica, Canonic, and Lavie Bio and by Evogene, via its Ag-seeds division. I will begin with AgPlenus, our ag-chemical subsidiary. I am happy to mention that AgPlenus already met its first significant milestone for 2020 entering into a strategic collaboration with Corteva based on candidates from the herbicide program, and I would like to encourage you to read the press release we issued on the collaboration which we believe holds great promise.
In our call today, I would like to focus on the second milestone we aim to achieve in 2020 that relates to AgPlenus' internal herbicide program. In the second half of 2020 AgPlenus aims to reach an important phase advancement, a new mode of action lead in its herbicide program with respect to a certain compound. A Lead herbicide is a chemical compound or a family of chemical compounds that have shown efficacy in killing weeds in commercial application rates in a series of different trials including laboratory assays, greenhouse trials and finally also in field trials. A new mode of action was already confirmed in many biological assays and indicates that the herbicidal compound of interest might not be subjected to existing issues of resistance compared to commercially available products.
Additional important information is that the mode of action we are focusing on targets a protein that does not exist in humans [Indecipherable] potential for a high safety profile. We are currently beginning these field trials and look forward to updating you with the results of these trials. I would like to convey why this is such an important milestone. A safe, new mode of action herbicide is one of the most desired products in the ag-chemical industry. This is because of growing weed resistance to existing commercial products. Reaching the development phase of a lead is a significant and important stage in reaching such a product.
Moving on to Biomica. On our call today, I would like to take the time to focus on Biomica's immuno-oncology program. In this program, Biomica is developing novel microbiome-based drug products to enhance the efficacy of immune checkpoint inhibitors immunotherapy, which is one of the most effective treatments today for various types of cancer. Unfortunately, these types of therapies seem to be effective only in a fraction of patients. It has been observed in medical studies that fecal microbiota transplants, FMT, have the potential