Lavie Bio reports advancement in bio-fungicide program against downy mildew with 2023 field trial results

Lavie Bio Ltd., a subsidiary of Evogene Ltd. (Nasdaq: EVGN) (TASE: EVGN), and a leading ag-biologicals company that develops microbiome-based, computational-driven bio-stimulant and bio-pesticide novel products, reports significant progress with its bio-fungicide LAV321, discovered and optimized using Lavie Bio's Biology Driven Design (BDD) platform powered by Evogene's MicroBoost AI tech-engine. In 2023 Lavie Bio achieved positive results in a series of field trials conducted across Europe and the United States, focusing on assessing LAV321's efficacy in safeguarding crops against downy mildew and late blight diseases.

Trials conducted across Europe achieved an impressive average efficacy rate of 60% against downy mildew in grapes. At Cornell University in NY, LAV321 demonstrated remarkable field trial results with a 97% efficacy rate against leaf disease and 53% against bunch disease. These findings establish LAV321 as a potent solution against fungal diseases, focusing on oomycetes class diseases, including downy mildew, late blight, and other blight diseases, all known for their destructive impact on crop yields.

The global fungicide market, valued at approximately $21 billion in 2022, is projected to experience robust growth with a compound annual growth rate (CAGR) of 6.4% in the coming years[1]. Downy mildew leads to a 75% loss of productivity and yield in humid grapevine-growing areas. Mounting concerns regarding resistance to chemical solutions and a growing public interest in eco-friendly farming practices drive a need for new solutions, and ag-biologicals such as LAV321 emerge as pivotal tools to address these challenges and shape the future of sustainable agriculture.

LAV321 is engineered to seamlessly integrate into farmers' existing Integrated Pest Management (IPM) practices, facilitating productivity and sustainability while mitigating the emergence of resistance to conventional solutions.

Amit Noam, Lavie Bio's CEO, expressed his satisfaction with the program's progress: "We're delighted with the LAV321 bio-fungicide program advancement, offering effective solutions for critical fruit and vegetable diseases, and effortlessly integrating with existing IPM practices. I would like to share that next year, LAV321 will be tested in field trials by several multinational companies, for some of which it will be the second year of validation. The advancement we announced today is a further testament to the strength of our BDD technology platform, powered by Evogene's MicroBoost AI tech-engine. Our roadmap includes another year of optimization for over 70% efficacy, continued IPM experiments, broadening applications, and starting regulatory processes in 2024."