Corteva Acquires Rights to Biofungicide Products for Fruit Rot and Powdery Mildew
July 17, 2023 Corteva Inc. on July 17 announced a licensing agreement with Lavie Bio Ltd., a subsidiary of Evogene Ltd. and leading ag-biologicals company that develops microbiome-based, computational driven biostimulant and biopesticide novel products.
The agreement grants Corteva exclusive rights to further develop and commercialize the lead biofungicide product candidates targeting fruit rot and powdery mildew that were discovered and developed by Lavie Bio. The agreement comes after two years of independent field validation conducted by both companies.
Fruit rot and powdery mildew, two destructive diseases affecting vineyards, fruits, and vegetables, have resulted in annual losses estimated at billions of dollars globally. Fruit rot pathogens, such as Botrytis, can cause damage upon contact with infected plant material. Meanwhile, powdery mildew spreads swiftly between plants via wind-dispersed spores.
The agreement is part of Lavie Bio’s strategy to cooperate with the world’s leading agritech companies, enabling its products to reach farmers worldwide. Corteva, with its ag biological capabilities, can leverage Lavie Bio’s product candidates toward commercial success. This collaboration demonstrates both companies’ commitment to providing farmers with environmentally friendly, sustainable products with proven effectiveness.
“Our licensing agreement solidifies the collaboration between both companies, leveraging Corteva’s impressive scale-up capabilities and market leadership in conjunction with Lavie Bio’s distinctive discovery expertise powered by Evogene’s MicroBoost AI tech-engine and comprehensive product development capabilities” Amit Noam, CEO of Lavie Bio, says. “This agreement not only highlights Lavie Bio’s technological capabilities but also enables us to swiftly introduce groundbreaking ag-biological solutions that benefit farmers, consumers, and the environment. “
“When you have a world-class R&D program like we do at Corteva Agriscience, it allows you to move fast and bring on new opportunities that will help farmers meet the demands of an ever-changing food system,” Sam Eathington, Executive Vice President, Chief Technology and Digital Officer, Corteva Agriscience, says. “This agreement gives us yet another avenue to provide better solutions to farmers now and in the future.”