Evogene Ltd (EVGN) 2023 Q3 法說會逐字稿

Ladies and gentlemen, thank you for standing by, and welcome to Evogene third quarter 2023 Results conference call. (Operator Instructions) As a reminder, this conference is being recorded November 15, 2023.

女士們、先生們，感謝你們的支持，並歡迎參加 Evogene 2023 年第三季業績電話會議。 （操作員說明）謹此提醒，本次會議的錄音時間為 2023 年 11 月 15 日。

Before we begin, I would like to caution that certain statements made during this earnings conference call by Evogene management will constitute forward-looking statements that relate to future events, risks and uncertainties regarding business strategy, operations and future performance and results of Evogene.

在開始之前，我想提醒大家，Evogene 管理層在本次財報電話會議上發表的某些聲明將構成前瞻性聲明，這些聲明涉及Evogene 的業務戰略、運營以及未來業績和結果的未來事件、風險和不確定性。

I encourage you to review Evogene filings with the US Securities and Exchange Commission and read the note regarding forward-looking statements in today's earnings release, which states that statements made in the earnings release and in a similar way on this earnings conference call that are not historical facts may be deemed forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995.

我鼓勵您查看Evogene 向美國證券交易委員會提交的文件，並閱讀有關今天收益發布中前瞻性陳述的說明，其中指出，收益發布中以及本次收益電話會議上以類似方式做出的聲明不屬於前瞻性聲明。歷史事實可能被視為 1995 年《私人證券訴訟改革法案》含義內的前瞻性陳述。

For example, Evogene is using forward-looking statements in this call when it discusses the additional orders work has there is castor seeds and new collaborations to generate cash flow for the group by Biomica advances in preparing for a pre IND meeting for BNC128, expected test of LAV321 in field trials by several multinational companies and custers ability to mitigate production risks and to retain additional seed production subcontractors.

例如，Evogene 在本次電話會議中討論了額外訂單工作是否有蓖麻種子以及 Biomica 為 BNC128 的 IND 預會議做準備、預期測試的進展而為集團產生現金流的新合作時，使用了前瞻性陳述多家跨國公司對LAV321 進行了田間試驗，並有能力降低生產風險並保留更多種子生產分包商。

All forward-looking statements made here in speak only as of the date of the announcement of results. Many of the factors that impact weather are forward-looking statements will come true are beyond the control of Evogene and may cause actual results to differ materially from anticipated results.

所有前瞻性陳述僅代表截至結果公佈之日的情況。許多影響天氣的因素都是前瞻性陳述的實現，超出了 Evogene 的控制範圍，並可能導致實際結果與預期結果有重大差異。

Evogene is under no obligation to update publicly or alter forward-looking statements, whether as a result of new information, future events or otherwise, except as otherwise required by law, we expressly disclaim any obligation to do. So more detailed information about the risk factors potentially adversely impacting our performance can be found in our reports filed with the US Securities and Exchange Commission.

Evogene 沒有義務公開更新或更改前瞻性陳述，無論是由於新資訊、未來事件或其他原因，除非法律另有要求，否則我們明確不承擔任何這樣做的義務。因此，有關可能對我們的業績產生不利影響的風險因素的更多詳細資訊可以在我們向美國證券交易委員會提交的報告中找到。

Starting the call today is the President and CEO of Evogene, Ofer Haviv; joined by Evogene CFO, Yaron Eldad. That said, I would like to turn over the call to Ofer Haviv, President and CEO of Evogene, Mr. Haviv. Please go ahead.

今天主持電話會議的是 Evogene 總裁兼執行長 Ofer Haviv； Evogene 財務長 Yaron Eldad 也加入其中。也就是說，我想將電話轉給 Evogene 總裁兼執行長 Ofer Haviv 先生。請繼續。

Thank you and good day, everyone. Today I will review Evogene activities, our financial stabilities, and recent achievements. I will also provide an update on Evogene potential catalysts expected in the near future. I will discuss some of our subsidiaries. Recent accomplishments and their positive impact on Evogene.

謝謝大家，祝大家有美好的一天。今天我將回顧 Evogene 的活動、我們的財務穩定性和最近的成就。我還將在不久的將來提供有關 Evogene 潛在催化劑的最新資訊。我將討論我們的一些子公司。最近的成就及其對 Evogene 的正面影響。

Bear in mind that our subsidiary leverage Evogene technology as their main competitive advantage and their accomplishments demonstrate the power and the value of our AI driven tech engine underlying their product development process.

請記住，我們的子公司利用 Evogene 技術作為其主要競爭優勢，他們的成就證明了我們的人工智慧驅動技術引擎在其產品開發過程中的力量和價值。

But first, I would like to start with a personal note in light of the war with Hamas, the recent events in Israel starting October 7, 2023, have brought significant changes to our nation. We find ourselves at the time of profound reflection. Our hearts go out to all those directly and indirectly impacted by those evil act.

但首先，我想以個人觀點開始，鑑於與哈馬斯的戰爭，以色列最近從 2023 年 10 月 7 日開始發生的事件給我們的國家帶來了重大變化。我們發現自己正處於深刻反思的時刻。我們對所有直接或間接受到這些邪惡行為影響的人表示同情。

We pose it to remember and honor the memory of Herschmann. It shows a member of the Evogene group and his wife Orly which tragically lost their lives during this brutal attack on Israel may their soul rest in piece and major memory serve.

我們設置它是為了紀念和紀念赫施曼。它展示了 Evogene 組織的一名成員和他的妻子奧利，他們在這次對以色列的殘酷襲擊中不幸喪生，願他們的靈魂安息，重要的記憶得以延續。

As a reminder of our people's enduring trends and resilience. I want to emphasize that this loss only deepens our resolve to succeed and thrive and carry our business forward, getting back to Evogene ongoing operations status and meet those challenges together with our subsidiaries. We stand strong in our commitment to innovation and progress. Our strategic focus remains strong, and our dedicated team continues to work tirelessly to achieve our objectives for 2023 and set the course for 2024.

提醒我們人民的持久趨勢和韌性。我想強調的是，這種損失只會加深我們取得成功、蓬勃發展和推動業務發展的決心，恢復 Evogene 的持續營運狀態，並與我們的子公司一起應對這些挑戰。我們堅定地致力於創新和進步。我們的策略重點依然堅定，我們的敬業團隊將繼續不懈努力，以實現 2023 年的目標並為 2024 年設定路線。

I would now like to review Evogene's positive financial status, beginning with our cash balance across Evogene and its subsidiaries and our new terms financing strategy at the end of the third quarter Evogene and had a cash balance of $37.2 million. This included Lavie Bio with $7.1 million. Biomica with $14.6 million and Evogene, together with AgPlenus, Casterra, Canonic with a $15.5 million.

我現在想回顧一下 Evogene 的正面財務狀況，首先是 Evogene 及其子公司的現金餘額，以及第三季末 Evogene 的新條款融資策略，現金餘額為 3,720 萬美元。其中包括 Lavie Bio 的 710 萬美元。 Biomica 獲得 1460 萬美元，Evogene 以及 AgPlenus、Casterra、Canonic 獲得 1550 萬美元。

It's worth highlighting that Evogene cash balance does not yet reflect the current and expected revenue from Casterra. While on the other hand, our cash balance at the end of the quarter is influenced by the significant upfront costs improved in producing castor seeds in Brazil and Africa.

值得強調的是，Evogene 現金餘額尚未反映 Casterra 當前和預期的收入。另一方面，我們本季末的現金餘額受到巴西和非洲生產蓖麻籽的前期成本大幅改善的影響。

Additionally, it's important to mention that Libyan barrels cash balance does not yet include an additional $2.5 million expected in January 2024 as part of the pending commercial agreement with Casterra, as was announced by the company in July.

此外，值得一提的是，利比亞桶裝現金餘額尚未包括預計於 2024 年 1 月額外增加的 250 萬美元，這是該公司 7 月宣布的與 Casterra 懸而未決的商業協議的一部分。

Furthermore, we anticipate additional orders for Casterra castor seeds and new collaborations to generate cash flow for the group through out 2024 and on further enhancing our financial stability.

此外，我們預計將有更多的 Casterra 蓖麻種子訂單和新的合作，以便在 2024 年為集團創造現金流，並進一步增強我們的財務穩定性。

Our revenues for the current quarter, which totaled $3.8 million, demonstrate the successful execution of Evogene business model, joint cash and value from the activity of our subsidiaries. Notably, these revenues include approximately $0.9 million from Casterra castor seeds and $2.5 million generated by Lavie Bio at a licensing fee in the frame of its collaboration with Corteva.

我們本季的收入總計 380 萬美元，證明了 Evogene 業務模式的成功執行、聯合現金和我們子公司活動的價值。值得注意的是，這些收入包括來自 Casterra 蓖麻種子的約 90 萬美元，以及 Lavie Bio 在與 Corteva 合作的框架內以許可費產生的 250 萬美元。

This collaborations not only added value to Lavie Bio for the benefit of its shareholders, but also fund its ongoing operations and reducing the need for additional funding from Lavie Bio shareholders. Concerning Evogene ongoing activity in the past quarter, we continue improving our three AI debt engines, adding new applications, and upgrading existing features.

這項合作不僅為 Lavie Bio 增加了價值，造福其股東，還為其持續營運提供了資金，並減少了 Lavie Bio 股東對額外資金的需求。關於 Evogene 在上個季度的持續活動，我們繼續改進我們的三個 AI 債務引擎、添加新應用程式並升級現有功能。

We intend to make our AI tech engines as accessible and user-friendly as possible. And so based on feedback from our partners, we continuously improve the UIUX. As I emphasized in previous calls, Evogene strategy for capturing value from our AI tech engines revolves around utilizing or licensing this engine as enablers for product development.

我們打算讓我們的人工智慧技術引擎盡可能易於存取和用戶友好。因此，根據合作夥伴的回饋，我們不斷改進 UIUX。正如我在之前的電話會議中所強調的那樣，Evogene 從我們的人工智慧技術引擎中獲取價值的策略圍繞著利用或授權該引擎作為產品開發的推動者。

Evogene employed to main business structures to execute this strategy in order to generate revenue and value. The first collaboration with leading companies, Evogene collaborates with industry leaders to develop defined product by utilizing Evogene AI tech engine.

Evogene 聘請主要業務結構來執行該策略，以產生收入和價值。 Evogene 首次與領先公司合作，利用 Evogene AI 技術引擎與產業領導者合作開發定義產品。

Typically, our partners take the lead in later stage development and product commercialization using this structure Evogene can benefit from the following revenue stream, upfront payments, R&D fees, milestone payments and most importantly, royalties from our partners sales of the end product.

通常，我們的合作夥伴使用這種結構在後期開發和產品商業化中處於領先地位，Evogene 可以從以下收入來源、預付款、研發費用、里程碑付款以及最重要的是我們的合作夥伴銷售最終產品的特許權使用費中受益。

The second business structure is establishing independent subsidiaries each dedicated to a specific commercial field with in the life science markets. The subsidiaries hold the license to use Evogene unique, AI tech engine for product development.

第二種業務結構是建立獨立的子公司，每個子公司致力於生命科學市場的特定商業領域。子公司擁有使用 Evogene 獨特的人工智慧技術引擎進行產品開發的授權。

Using this structure Evogene can benefit from the following revenue streams. License fee for the use of our AI tech engines, dividends to Evogene as the shareholders. And most importantly, when an exit event, of course, as long as Evogene remains a major shareholder, a significant one-time payment is expected in past years. Our efforts focused mainly on establishing and supporting the activities of our subsidiaries. They proudly reported their delivery of various impressive results, of which most recent I will dive into shortly.

使用這種結構 Evogene 可以從以下收入來源中受益。使用我們的人工智慧技術引擎的許可費，Evogene 作為股東的股息。最重要的是，當發生退出事件時，當然，只要 Evogene 仍然是主要股東，過去幾年預計將有一筆可觀的一次性付款。我們的努力主要集中在建立和支持我們子公司的活動。他們自豪地報告了他們所取得的各種令人印象深刻的成果，我很快就會深入探討其中最近的成果。

As stated in previous calls. During this year, we invested in establishing collaborations directly between Evogene and industry leaders, aiming to leverage our AI tech engine for product development. We are very excited with the initial fruits of these initiatives, as demonstrated by the recently reported collaboration with Colors Farm and Ben-Gurion University, to Pioneer, Crustacean Gene Editing Technology, aiming to enhance Crustacean traits.

正如之前的電話中所述。今年，我們投資建立 Evogene 與產業領導者之間的直接合作，旨在利用我們的人工智慧技術引擎進行產品開發。我們對這些措施的初步成果感到非常興奮，最近報道的與 Colors Farm 和本古里安大學合作開發甲殼動物基因編輯技術先鋒的成果就證明了這一點，旨在增強甲殼動物的性狀。

The collaboration is powered by a grant from the Israeli Innovation Authority and utilize Evogene generator, AI tech engine. We hope and believe that this collaboration marks the beginning of path to additional collaborations in the near future that will benefit from our three AI. tech engine and generates significant revenue and value for Evogene and its partners.

此次合作由以色列創新局資助，並利用 Evogene 生成器和人工智慧技術引擎。我們希望並相信，這次合作標誌著在不久的將來更多合作之路的開始，這些合作將從我們的三個人工智慧中受益。科技引擎，為 Evogene 及其合作夥伴帶來可觀的收入和價值。

Now I would like to review the main achievements of our subsidiaries in the last few months, who as part of their competitive advantage are all using Evogene tech engines under exclusive license for the product development.

現在我想回顧一下我們的子公司在過去幾個月中取得的主要成就，作為其競爭優勢的一部分，它們都使用獨家授權的 Evogene 技術引擎進行產品開發。

I would like to start with the two subsidiaries using MicroBoost AI to accelerate and direct the product development, Lavie Bio and Biomica. Lavie Bio is at the forefront of next generation at biological product with Evogene as its majority shareholder. It's worth noting that Lavie Bio has two additional significant shareholders, Corteva and multinational ag tech leader and ICL, a global mineral, an ag tech company behind their equity investment. Both Corteva and ICL are actively engaged in collaborative efforts with the Lavie Bio innovate and develop novel agriculture biological solutions.

我想從使用 MicroBoost AI 加速和指導產品開發的兩家子公司 Lavie Bio 和 Biomica 開始。 Lavie Bio 處於下一代生物製品領域的前沿，Evogene 是其大股東。值得注意的是，Lavie Bio 還有另外兩個重要股東，Corteva 和跨國農業科技領導者以及 ICL（一家全球礦業公司），其股權投資背後是一家農業科技公司。 Corteva 和 ICL 都積極與 Lavie Bio 合作創新和開發新型農業生物解決方案。

In July, Lavie Bio announced that it entered another licensing agreement with Corteva. The agreement grants Corteva exclusive rights to develop further and commercialize two of Lavie Bio lead by fungicide product candidates, LAV311 and LAV312, targeting fruit rots.

7 月，Lavie Bio 宣布與 Corteva 簽訂另一項授權協議。該協議授予 Corteva 進一步開發和商業化兩種 Lavie Bio 領先的殺菌劑候選產品 LAV311 和 LAV312 的獨家權利，針對水果腐爛病。

The agreement follows three years of independent field validations trails conducted by both companies. Under this agreement, Lavie Bio was set to receive an initial payment of approximately $5 million in two installments.

該協議是在兩家公司進行了三年的獨立現場驗證之後達成的。根據該協議，Lavie Bio 將分兩期收到約 500 萬美元的首期付款。

The first payment of $2.5 million was already received in September 2023, and the second payment is expected in the first quarter of 2024. Lavie Bio will also be eligible for additional future milestone payments and royalty from Corteva that the sales of these future products.

第一筆250 萬美元付款已於2023 年9 月收到，第二筆付款預計在2024 年第一季收到。Lavie Bio 還將有資格獲得Corteva 未來產品銷售的額外里程碑付款和特許權使用費。

This collaboration with Corteva not only strengthen Lavie Bio financial position, but also significantly enhance its overall perception in the ag market. Furthermore, the revenue generated from these collaborations mitigates the need for external financing, further solidifying Lavie Bio financial stability and ability to continue advancing its cutting edge at biological products.

與 Corteva 的合作不僅增強了 Lavie Bio 的財務狀況，也顯著提升了其在農業市場的整體認知度。此外，這些合作產生的收入減少了對外部融資的需求，進一步鞏固了 Lavie Bio 的財務穩定性和繼續推進其在生物製品領域領先優勢的能力。

Last week, Lavie Bio announced significant progress in its bio-fungicide program with LAV321 designed to combat downy mildew and late blight diseases, which on conducted in 2023 across Europe and the United States have yielded impressive results. I would like to share that next year LAV321 will be tested in fleet-wide by several multinational companies for some of which it will be the 2nd year of validation.

上週，Lavie Bio 宣布其 LAV321 生物殺菌劑計畫取得重大進展，該計畫旨在對抗霜霉病和晚疫病，該計畫於 2023 年在歐洲和美國開展，取得了令人矚目的成果。我想告訴大家的是，明年 LAV321 將由多家跨國公司在整個機隊範圍內進行測試，其中一些將是驗證的第二年。

Biomica, which develops microbiome based therapeutics for human health is the second subsidiary using Evogene of MicroBoost AI tech engine to discover and optimize microbes with therapeutic potential. It's worth noting that in addition to Evogene majority holder, Biomica has another major shareholder, Shanghai Healthcare Capital, one of the largest venture capital groups focusing on health care located in China.

Biomica 為人類健康開發基於微生物組的療法，是第二家使用 MicroBoost AI 技術引擎 Evogene 來發現和優化具有治療潛力的微生物的子公司。值得注意的是，除了Evogene大股東外，Biomica還有另一大股東上海健康資本，這是中國最大的專注於醫療健康的創投集團之一。

Biomica because it's leading product candidates. BMC128 for the treatment of cancer patients is now in Phase 1 clinical trial. The trial conducted in Israel at the Rambam Health Care Campus in to evaluate BMC128, safety and tolerability alongside Bristol Myers Squibb's, Opdivo immunotherapy for respiratory patients with NSCLC, melanoma for RCC in August Biomica opened a second site in Israel in the field of cancer center to allow the recruitment of additional patients to the clinical trial.

Biomica 因為它是領先的候選產品。用於治療癌症患者的 BMC128 目前正處於第 1 期臨床試驗。該試驗在以色列Rambam 醫療保健園區進行，旨在評估BMC128 的安全性和耐受性，與百時美施貴寶的Opdivo 免疫療法一起治療呼吸道非小細胞肺癌(NSCLC) 患者、腎細胞癌(RCC) 黑色素瘤患者，8 月Biomica 在以色列癌症中心領域開設了第二個中心允許招募更多患者參加臨床試驗。

The trial is planned to include 10 patients to 12 patients currently 7 have enrolled. The company now focused on preparing all the required material for pre-IND meeting for BMC128 in its immuno-oncology program. Expected to take place in the first quarter of 2024.

該試驗計劃包括 10 至 12 名患者，目前已有 7 名患者入組。該公司現在專注於準備其免疫腫瘤學計畫中 BMC128 的 IND 前會議所需的所有資料。預計將於 2024 年第一季進行。

I would like to continue with the two subsidiaries using generator AI to accelerate and direct the full development Casterra and Canonic. Casterra focused on developing an integrated solution to enable large-scale commercial cultivation of castor beans through its unique elite seed varieties.

我想繼續與這兩個子公司一起使用生成器 AI 來加速和指導 Casterra 和 Canonic 的全面開發。 Casterra 專注於開發綜合解決方案，透過其獨特的優良種子品種實現蓖麻子的大規模商業種植。

Casterra aim to address the global demand for stable customer oil supply, mainly for the biodiesel industry. The past year was pivotal for Casterra. Our vision of becoming a significant player in the biodiesel industry progresses with seed order from award leading energy and gas company totaling $11.3 million for castor cultivation in Africa to support the growing demand for biodiesel in the last quarter Casterra successfully delivered its first shipment of high yield and high oil castor seeds to season from Brazil and Zambia to an African region valued at approximately $0.9 million. Casterra is planning to supply the rest of the ordered seeds at the beginning of 2024.

Casterra 旨在滿足全球客戶對穩定石油供應的需求，主要針對生質柴油產業。過去的一年對卡斯特拉來說至關重要。我們成為生物柴油行業重要參與者的願景取得了進展，我們從領先的能源和天然氣公司獲得了總計1130 萬美元的種子訂單，用於非洲蓖麻種植，以支持上季度對生物柴油不斷增長的需求Casterra 成功交付了第一批高產蓖麻以及高油蓖麻籽，從巴西和尚比亞運往非洲地區，價值約 90 萬美元。 Casterra 計劃在 2024 年初供應剩餘的訂購種子。

In recent months, Casterra has made substantial steps in expanding its overseas sales and production capabilities through subcontractors based on Casterra observations of this move, company management learned that this complexity is high and requires additional resources, an extensive physical attendance of Casterra professionals in the overseas production sites.

近幾個月來，根據Casterra 對這項舉措的觀察，Casterra 透過分包商在擴大海外銷售和生產能力方面邁出了實質步伐，公司管理層了解到這種複雜性很高，需要額外的資源，Casterra 專業人士在海外的廣泛實地出席生產基地。

Casterra is currently investing efforts in expanding its workforce to support the subcontractors engage with and in parallel looks for additional seed production subcontractors to manage risk. These efforts aim to ensure a long-term, reliable, and sustainable safe production infrastructure that will allow the supply of high-quality castor seeds for existing order by the second quarter of 2024 and provide a stable and scalable platform for future growth.

Casterra 目前正在努力擴大員工隊伍，以支持分包商參與並同時尋找更多種子生產分包商來管理風險。這些努力旨在確保長期、可靠和可持續的安全生產基礎設施，以便在 2024 年第二季之前為現有訂單供應高品質的蓖麻種子，並為未來的成長提供穩定和可擴展的平台。

Moving on to Canonic, which focuses on developing best-in-class medical cannabis products. Canonic's, main targets for the near term are to grow its cannabis sales in each well benefiting from its elite unique strength while significantly reducing expenses. As Canonic's go-to-market strategy includes out-licensing to subcontractors and the commercial growth of the cannabis strain toward the final product. It is crucial to select subcontractors with the right skills and expertise to maximize the genetic value of Canonic strains, making the premium market criteria, to this end during the last quarter, we engaged with a new Israeli cultivator EverGreen to grow Canonic variety and currently for elite trends, our growth in EverGreen's greenhouse sites.

接下來是 Canonic，該公司專注於開發一流的醫用大麻產品。 Canonic 近期的主要目標是受益於其獨特的精英優勢，增加每口井的大麻銷量，同時大幅減少開支。由於佳能的進入市場策略包括向分包商授予許可以及大麻菌株對最終產品的商業成長。至關重要的是選擇具有適當技能和專業知識的分包商，以最大限度地提高Canonic 菌株的遺傳價值，制定優質市場標準，為此，在上個季度，我們與一家新的以色列栽培商EverGreen合作種植Canonic 品種，目前用於菁英趨勢，我們在長青溫室基地的成長。

In parallel, the company continue evaluating and negotiating with various subcontractors overseas for cultivation in indoor growth facilities. The Israeli medical cannabis market is characterized by a best spectrum of product, both grow locally and from abroad, capturing the patient's attention is challenging, leading to price dropping even for premium products.

同時，該公司繼續與海外各分包商就室內生長設施的種植進行評估和談判。以色列醫用大麻市場的特點是產品種類齊全，既有本地種植的，也有國外種植的，吸引患者的注意力具有挑戰性，甚至導致優質產品的價格下降。

To address this challenge, Canonic is focusing its marketing efforts on the frequent launching of new products in limited batches during the third quarter, Canonic launch two new product Tango and Two Aces. And this week an additional product SouthSide was launched.

為了應對這項挑戰，佳能在第三季將行銷力度重點放在了新品的頻繁限量推出上，佳能推出了兩款新產品Tango和Two Aces。本週，又推出了一款產品 SouthSide。

Lastly, I would like to review our subsidiary AgPlenus, which utilize Evogene's campus, AI tech engine to accelerate direct its product development. AgPlenus aim to discover next-generation innovative crop protection products, including herbicides, insecticides and fungicides and commercializing them through collaboration with world-leading partners.

最後，我想回顧一下我們的子公司 AgPlenus，它利用 Evogene 的園區、人工智慧技術引擎來直接加速其產品開發。 AgPlenus 旨在發現下一代創新作物保護產品，包括除草劑、殺蟲劑和殺菌劑，並透過與世界領先的合作夥伴合作將其商業化。

Major are chemical companies such as BASF buyer, Corteva, and Syngenta dominant today, the crop protection industry. Still they look to smaller active companies like AgPlenus to discover new target proteins and small molecules that inhibit such target proteins serving as the active ingredient in the commercial crop protection product.

主要是化學公司，如巴斯夫買家、科迪華和先正達，在當今的作物保護產業中佔據主導地位。儘管如此，他們仍然希望像 AgPlenus 這樣規模較小的活躍公司能夠發現新的目標蛋白和小分子，以抑制此類目標蛋白作為商業作物保護產品中的活性成分。

AgPlenus is the company that addresses this need and explores for partnership with these major industry players. As I stated in the previous call, there is a growing interest in AgPlenus's product pipeline, especially in our lead target Protein APTH1, and the small molecules that bind to this protein as a candidate for a novel herbicide with a broad width control spectrum.

AgPlenus 是一家滿足這一需求並探索與這些主要行業參與者建立合作夥伴關係的公司。正如我在先前的電話會議中所說，人們對AgPlenus 的產品線越來越感興趣，尤其是我們的主要目標蛋白APTH1，以及與該蛋白結合的小分子，作為具有寬控制譜的新型除草劑的候選者。

We believe that this interest can lead to a collaboration agreement between AgPlenus and a leading industry player despite all the subsidiaries are advancing their business targets as shareholders Evogene is very proud of this progress. Bear in mind that the subsidiary, the success is testimony to the power and value of Evogene's, AI tech engine to accelerate and direct life science based product development.

我們相信，儘管所有子公司都在推進其業務目標，但 AgPlenus 的這種興趣可能會導致 AgPlenus 與行業領先企業之間達成合作協議，而股東 Evogene 對此進展感到非常自豪。請記住，該子公司的成功證明了 Evogene 的人工智慧技術引擎在加速和指導基於生命科學的產品開發方面的力量和價值。

Looking forward, when evaluating the needs of our wholly owned subsidiaries and the commercial potential of each. We intend to invest more efforts and the resources in Casterra, since we see significant potential in the biodiesel market, which castor oil can support while reducing our investment in Canonic due to the challenging market condition of the medical cannabis sector.

展望未來，在評估我們全資子公司的需求以及每個子公司的商業潛力時。我們打算在 Casterra 投入更多的精力和資源，因為我們看到生物柴油市場的巨大潛力，蓖麻油可以支持這個市場，同時由於醫用大麻行業充滿挑戰的市場狀況，我們減少了對 Canonic 的投資。

With this, I pass the call to Yaron Eldad, Evogene's CFO, to review our financial report for the third quarter. Yaron?

這樣，我就給 Evogene 財務長 Yaron Eldad 打電話，請他審查我們第三季的財務報告。亞龍？

Thank you, Ofer. As of September 30, 2023, Evogene had consolidated cash, cash equivalents and short-term bank deposits of approximately $37.2 million, Biomica accounted for $14.6 million of the sum, Lavie Bio holds $7.1 million, Evogene together with Casterra, Canonic and AgPlenus possessed an aggregate of $15.5 million in cash.

謝謝你，奧弗。截至 2023 年 9 月 30 日，Evogene 合併的現金、現金等價物和短期銀行存款約為 3,720 萬美元，Biomica 佔其中 1,460 萬美元，Lavie Bio 持有 710 萬美元，Evogene 與 Casterra、Canonic 和 AgPlenus 一起擁有總計1550萬美元現金。

The injections upfront from the last round of investment in July strengthens Evogene financial position and provides us with the resources needed to execute our future plans effectively. As Ofer already stated, the $15.5 million as reflected in the cash balance of Evogene together with Casterra, Canonic and AgPlenus do not include any amount due to the purchase orders received by in the last two months, which were partially supplied during the third quarter of 2023.

7 月最後一輪投資的預注增強了 Evogene 的財務狀況，並為我們提供了有效執行未來計劃所需的資源。正如 Ofer 已經指出的，Evogene 以及 Casterra、Canonic 和 AgPlenus 現金餘額中反映的 1550 萬美元不包括過去兩個月收到的採購訂單的任何金額，這些訂單是在第三季度部分供應的。2023 年。

And that the $7.1 million reflected in the cash balance of Lavie Bio, does not include the $2.5 million, which represents the second half of the upfront payment from the licensing Casterra agreement with Corteva that is expected to be received at the beginning of 2024.

Lavie Bio 現金餘額中反映的 710 萬美元不包括預計將於 2024 年初收到的 250 萬美元，這是與 Corteva 簽訂的 Casterra 許可協議預付款的後半部分。

During the third quarter, the consolidated cash usage was approximately $4.8 million or approximately $3.2 million, excluding Lavie Bio, which provided positive net cash of $1.1 million due to $2.5 million upfront payment from the licensing agreement with Corteva. Biomica and $1.2 million of advanced payments to Casterra subcontractors for castor seeds production.

第三季度，合併現金使用量約為 480 萬美元或約 320 萬美元，不包括 Lavie Bio，由於與 Corteva 的許可協議預付款 250 萬美元，該公司提供了 110 萬美元的正淨現金。 Biomica 向 Casterra 分包商預付 120 萬美元用於蓖麻種子生產。

I will now review the P&L main items. Revenues for the third quarter of 2023 were approximately $3.8 million compared to approximately $0.5 million in the same period the previous year. The revenue increase was primarily due to revenues recognized by Lavie Bio for the licensing agreement with Corteva and due to revenues recognized by Casterra for the supply of castor seeds during the third quarter of 2023.

我現在將回顧損益表的主要項目。 2023 年第三季的營收約為 380 萬美元，而去年同期營收約為 50 萬美元。收入成長主要歸因於 Lavie Bio 因與 Corteva 簽訂的授權協議而確認的收入，以及 Casterra 在 2023 年第三季因供應蓖麻籽而確認的收入。

R&D expenses for the third quarter of 2023, which are reported net of non-refundable grants received, were approximately $5.1 million and remained stable as compared to approximately $5 million in the same period in the previous year.

2023 年第三季的研發費用（扣除收到的不可退還補助金後）約為 510 萬美元，與去年同期的約 500 萬美元相比保持穩定。

Sales and marketing expenses were approximately $850,000 for the third quarter of 2023 and slightly decreased as compared to approximately $895,000 in the same period the previous year. The main contributor to this expense decrease was a reduction in personnel expenses at Canonic.

2023年第三季的銷售和行銷費用約為850,000美元，與去年同期的約895,000美元相比略有下降。費用減少的主要原因是佳能人事費用的減少。

General and administrative expenses were approximately $1.5 million in the third quarter of 2023 and remained stable compared to approximately $1.6 million in the same period in the previous year. Operating loss for the third quarter of 2023 was approximately $4.2 million compared to an operating loss of approximately $7.1 million in the same period in the previous year.

2023 年第三季的一般及管理費用約為 150 萬美元，與去年同期的約 160 萬美元相比保持穩定。 2023 年第三季的營運虧損約為 420 萬美元，而去年同期的營運虧損約為 710 萬美元。

The decrease in operating loss is mainly due to the increased revenues. As mentioned above, financing income net for the third quarter of 2023 was approximately $320,000 compared to financing expenses net of approximately $61,000 in the same period in the previous year. This difference was mainly due to increase in interest income during the third quarter of 2023. As compared to the same period in the previous year.

營業虧損減少主要是因為收入增加。如上所述，2023 年第三季的融資收入淨額約為 32 萬美元，而去年同期的融資費用淨額約為 61,000 美元。這一差異主要是由於2023年第三季利息收入較上年同期增加。

Net loss for the third quarter of 2023 was approximately $3.9 million compared to a net loss of approximately $7.2 million in the same period in the previous year. The decrease in the net loss is mainly due to the increased revenues recognized in the third quarter of 2023.

2023年第三季的淨虧損約為390萬美元，而去年同期淨虧損約為720萬美元。淨虧損減少主要是由於2023年第三季確認的收入增加。

With that offer, and I would like to open the call for any questions you may have. Operator?

有了這個提議，我想打開電話詢問您可能有的任何問題。操作員？

(Operator Instructions) also in the Q&A part are with us today Eyal Ronen, CEO of Casterra; Amit Noam, CEO of Lavie Bio; Elran Haber, CEO of Biomica; and Nir Arbel, CPO of Evogene and COO of AgPlenus. (Operator Instructions)

（操作員說明）今天也在問答部分與我們聯繫的是 Casterra 執行長 Eyal Ronen； Amit Noam，Lavie Bio 執行長； Biomica 執行長 Elran Haber； Nir Arbel，Evogene 首席產品長兼 AgPlenus 營運長。 （操作員說明）

The first question is from Ryan Meyer of Lake Street Capital. Please go ahead.

第一個問題來自 Lake Street Capital 的 Ryan Meyer。請繼續。

Hey guys. Thanks for taking my questions. First one for me. So for the initial $11 million Casterra order. You obviously had initial shipments here in Q3, but the rest expected in Q4 and Q1 of next year. Is this the type of seasonality that you would expect from future Casterra orders going forward?

大家好。感謝您回答我的問題。對我來說第一個。對於最初價值 1100 萬美元的 Casterra 訂單來說也是如此。顯然，你們在第三季度就有了初步發貨，但其餘的預計在明年第四季和第一季出貨。您期望未來的 Casterra 訂單會出現這種季節性嗎？

Can you repeat on the last sentence of your question?

你能重複一下你問題的最後一句話嗎？

Yeah. Just wondering if there's some of the kind of seasonality that you would expect on forward?

是的。只是想知道未來是否會出現某種您所期望的季節性？

So I wouldn't say -- I would admit this question and maybe Eyal can add a little bit more so based on our discussion with our existing partners, so they are expecting to see growth in their needs in the future for additional the cost of grain to feed there a crashing factory because they are planning to increase and expand the biodiesel production. So assuming this plan will take place.

所以我不會說——我承認這個問題，也許 Eyal 可以根據我們與現有合作夥伴的討論添加更多內容，因此他們預計未來的需求會增長，但需要額外的成本那裡的工廠正在崩潰，因為他們計劃增加和擴大生物柴油的生產。所以假設這個計劃將會發生。

So I believe that we should expect to see increasing demand to a castor seed such as Casterra is developing and providing to the market. I would recommend people who are listening to this call may be to look for a nice article that was published about Eni.

因此，我相信我們應該看到對正在開發並向市場提供的 Casterra 等蓖麻種子的需求不斷增加。我建議正在聽這個電話的人尋找一篇關於埃尼的好文章。

-- As an example for a company in the field of a -- an energy based on a converted crop -- under a future plan, which I think this is an example to what -- of the markets and look in the future. And it's public information that was published by Eni. And this is just one example to what might happened in this field and we will be more than happy to take part from this the trend and the Casterra progress in the future.

- 作為一個基於轉化作物的能源領域的公司的例子，根據未來的計劃，我認為這是市場和未來展望的一個例子。這是埃尼公司發布的公開資訊。這只是這一領域可能發生的事情的一個例子，我們將非常樂意參與這一趨勢和 Casterra 未來的進步。

Got it. And then can you just talk about the level of capacity that your energy partner has to take more volume of cash received from you guys?

知道了。然後你能談談你的能源合作夥伴從你們那裡收到更多現金的能力水平嗎？

We can disclose much about our partners' capacity. But I think that there is still room that we can -- a grow and increase our revenue before we reach to the limitation of what they have. Now, please remember that the, there is them that they can always decided to build a more factory that can a trash a castor is a grain to oil in order to produce biodiesel.

我們可以透露很多有關合作夥伴能力的資訊。但我認為我們仍然有空間——在達到他們所擁有的極限之前增加我們的收入。現在，請記住，他們總是可以決定建造一座更多的工廠，將蓖麻垃圾轉化為穀物油，以生產生質柴油。

Great. That's it for me. Thanks for taking my questions.

偉大的。對我來說就是這樣。感謝您回答我的問題。

The next question is from Brian Wright of ROTH Capital. Please go ahead.

下一個問題來自羅斯資本的布萊恩賴特。請繼續。

Thanks. Good morning. Will this go down with some, I guess and then you made a comment about the remaining part of the purchase order being we've had in the first quarter. And I just wanted to should we think about like that whole amount this year that they go into the fourth quarter, just given kind of your own with some logistical issues you had talked about in -- in Africa and in working with additional partners?

謝謝。早安.我猜這會下降一些嗎？然後您對我們在第一季收到的採購訂單的剩餘部分發表了評論。我只是想我們是否應該考慮今年進入第四季度的全部金額，只是考慮到您自己在非洲以及與其他合作夥伴合作時談到的一些後勤問題？

So I am not sure that I hear correctly what you said, but I believe that your question was referring to timing in when we can supply on the purchase order that we receive. So what we believe is that we -- will be they will be able to deliver in the majority, if not all of the particularly the seed that was ordered.

所以我不確定我是否正確地聽到了你所說的，但我相信你的問題是指我們何時可以根據收到的採購訂單供貨的時間。因此，我們相信，他們將能夠交付大部分（即使不是全部）特別是訂購的種子。

So this purchase order that we already received until the first half of a 2024, while the majority of it will be at the more the during the first or -- a immediately after the end of the first quarter. So and this is mainly due to the climate change and the irrigation system that we need to put in place.

因此，我們在 2024 年上半年之前已經收到了這份採購訂單，而其中大部分將在第一季或第一季結束後立即收到。這主要是由於氣候變遷和我們需要建立的灌溉系統所造成的。

There is no question if we can deliver the quantity, it's now more a timing issue. And the, as I mentioned in my in -- my speech is that we are investing a lot of efforts these days in strength, our infrastructure with respect to seed production in more than one location, in more than one continent in order to be able to not just deliver grain indirectly in the quantity needed, but also at a time as planned -- it, which you should all remember that the -- this in a revolution on the castor seed is a crop is going through. It's really something that took place only in the last nine-months, and it's really something very it's really the beginning and there is some trouble.

能否交付數量是毫無疑問的，現在更多的是時間問題。正如我在我的演講中提到的，我們這些天在多個地點、多個大陸的種子生產基礎設施方面投入了大量精力，以便能夠不僅要間接提供所需數量的糧食，而且還要按計劃的時間交付——你們都應該記住——這是一場關於蓖麻種子的革命，這是一種農作物正在經歷的事情。這確實是最近九個月才發生的事情，而且這確實是非常重要的事情，這確實是一個開始，並且存在一些麻煩。

But we are I'm so excited to see how we are addressing all of these challenges we expand the number of employee well-focused era. And we are recruiting also people in the target location where we grow the seed to escort the activity over there, on a daily basis, but we are still in the process of building all of these infrastructures. I think that starting from the second half of 2024, we'll start to see the impact of all of the things -- in the way that we are expecting.

但我很高興看到我們如何應對所有這些挑戰，我們擴大了專注於員工數量的時代。我們還在目標地點招募人員，每天在那裡種植種子，為那裡的活動保駕護航，但我們仍在建造所有這些基礎設施。我認為從 2024 年下半年開始，我們將開始看到所有事情的影響——以我們預期的方式。

Okay. So I mean, it really sounds like, based on what I just heard and I just want to make sure I'm interpreting this correctly for like just general weather conditions like typical, issues with no lack of rain probably was a major issue and that's just part of the business. Is that a fair interpretation of what you just said?

好的。所以我的意思是，聽起來確實如此，根據我剛剛聽到的內容，我只是想確保我正確地解釋了這一點，因為就像典型的一般天氣條件一樣，不缺乏降雨的問題可能是一個主要問題，那就是只是業務的一部分。這是對你剛才所說的話的公正解釋嗎？

Yeah, yeah, I again, I don't think that the question is not if we keep it, we will deliver the question is really more timing and solving problems such as climate issue that you cannot control and said well. But I think that we are now in a process where we know what we need to do and our subcontractors are and getting better and understanding what they need to do.

是的，是的，我再說一遍，我不認為問題不在於我們是否保留它，我們將交付問題實際上是更多的時機和解決問題，例如氣候問題，你無法控制並說得很好。但我認為我們現在正處於一個過程中，我們知道我們需要做什麼，我們的分包商正在變得更好並理解他們需要做什麼。

So it's really, I think almost every business in the 1st year or 2. You always struggle with the survey with the scale-up in production, and we are exactly going through this process. But I'm quite confident that we will be able to deliver the quantity that we promised. And so I hope that addresses your question.

所以，我認為幾乎所有企業在第一年或第二年都是如此。你總是在擴大生產規模的調查中掙扎，而我們正是在經歷這個過程。但我非常有信心我們能夠交付我們承諾的數量。所以我希望這能解決你的問題。

Great, great. Thank you. Just a real quick follow-up, and I understand gross margin was really good in the quarter. And I think some of that has to do with Corteva on payment and how that's recognized. But it still looks pretty good and, in the quarter, I would give my reading too much into it.

很棒很棒。謝謝。只是一個真正的快速跟進，我知道本季的毛利率非常好。我認為其中一些與 Corteva 的付款方式以及付款方式有關。但它看起來仍然相當不錯，在本季度，我會對它投入太多閱讀。

That your probably your Casterra margin has probably go even words to the year. Everything that happens is was probably pretty good gross margin for Castor in the quarter as well through the customer.

您的卡斯特拉利潤率可能與今年持平。所發生的一切對於 Castor 在本季度以及透過客戶來說可能都是相當不錯的毛利率。

I can't disclose -- a gross margin of a of our business. We prefer to keep this information internally. But I think that's -- a thing. If you review the margins of other companies in the field of is -- seed bean. So you do the margin that are pretty high, but it makes sense because don't forget the time that you need to invest in order to develop the seed -- for a seed company, the R&D costs are quite heavy.

我無法透露我們業務的毛利率。我們更願意在內部保留這些資訊。但我認為這是——一件事。如果你回顧一下該領域其他公司的利潤率，那就是——種子豆。因此，你的利潤相當高，但這是有道理的，因為不要忘記你需要投資時間來開發種子——對於種子公司來說，研發成本相當沉重。

The good news from the Casterra, is that we reached a elite variety that we are offering now to our partners. We investing in this activity in the last 10 years, and we invest in around them, I think $20 million through the years. So now we are starting to see the benefits from this investment. And this is also what can, put us ahead to any other company that would like to move into this field.

來自卡斯特拉的好消息是，我們已經成為了一個精英品種，現在正在向我們的合作夥伴提供。我們在過去 10 年裡對這項活動進行了投資，並且圍繞著這些活動進行了投資，我想這些年來我們投資了 2000 萬美元。現在我們開始看到這項投資的好處。這也能讓我們領先任何其他想要進入這領域的公司。

So the margin in seed beans are pretty high because they supposed to cover the expense and the risk that companies are putting in the development of the elite variety. Exactly like Evogene did like Casterra did in the past, the 10 years.

因此，籽豆的利潤率相當高，因為它們應該能夠彌補公司在開發優質品種時所投入的費用和風險。就像 Evogene 和 Casterra 在過去 10 年所做的那樣。

Great. Thank you so much.

偉大的。太感謝了。

The next question is from Ben Haynor of Alliance Global Partners. Please go ahead with that.

下一個問題來自 Alliance Global Partners 的 Ben Haynor。請繼續吧。

Good day gentlemen, thanks for taking the questions on. First off for me just on AgPlenus on the ABTH1 target, how quickly do you anticipate a collaboration, slash partnership could materialize there? And what are you doing or what can you presently do to kind of advance development of the target?

先生們，美好的一天，感謝您提出問題。首先，我想談談關於 ABTH1 目標的 AgPlenus，您預計多快可以實現合作、削減合作關係？您正在做什麼或目前可以做什麼來推動目標的發展？

Eyal, would you like to take this question or you prefer me to address it ?

Eyal，您願意回答這個問題還是希望我回答這個問題？

If you want, you can go ahead.

如果你願意，你可以繼續。

So I will only talk about it and making Eyal if you want, you can add so on.

所以我只會談論它和製作Eyal，如果你想要的話，你可以添加等等。

I think that's, usually on working with big corporation, usually take a while before you engage in agreement to include the validation period if it doesn't include negotiation time. But I think that's usually when a company feel comfortable to emphasize that there is an interest in one of its program, at least the way that AgPlenus working.

我認為，通常在與大公司合作時，通常需要一段時間才能達成協議，如果不包括談判時間，則包括驗證期。但我認為，通常是當一家公司願意強調對其某個專案感興趣時，至少是 AgPlenus 的工作方式。

So which mean that we have some confidence that we are not far away from the point where we might announce such collaboration. So again, you never know it will happen, which is why -- we this is because of the nature of the business, but we feel quite good. We feel comfortable that we are in the stage that there will be some progress.

因此，這意味著我們有信心，距離宣布此類合作已經不遠了。再說一次，你永遠不知道它會發生，這就是為什麼——我們這是因為業務的性質，但我們感覺很好。我們感到放心，我們正處於將會取得一些進展的階段。

There is a probability that they will engage in such an equilibration. I think the AgPlenus is an amazing example to what Evogene it is. The technology company can develop and offer to our partners AgPlenus is using a -- ChemPass AI tech engine and the progress we say engine made in the last year, it was remarkable.

他們有可能會進行這種平衡。我認為 AgPlenus 是 Evogene 的一個令人驚嘆的例子。這家科技公司可以開發並提供給我們的合作夥伴 AgPlenus 正在使用 ChemPass AI 技術引擎，我們所說的引擎在去年的進展非常引人注目。

We announced about a Target Selector. We announced about some other app that we developed. And I think this what is attract the attention of our potential partners is not just the results that you can see on what we achieve until now, but it also gets excited from our ability to improve that efficacy and the probability of success by using the tech engine of Evogene.

我們宣布了目標選擇器。我們宣布了我們開發的其他一些應用程式。我認為吸引我們潛在合作夥伴注意的不僅僅是我們迄今為止所取得的成果，而且還因為我們透過使用技術提高效率和成功機率的能力而感到興奮Evogene 的引擎。

So what I would like to seek what I hope to see in future conversion that AgPlenus will be engaged, not just maybe in that upfront payment, but also a ongoing collaboration with our industry, Casterra. So there is a there is a high expectation from what the AgPlenus can do.

因此，我希望在未來的轉換中看到 AgPlenus 參與的內容，不僅是預付款，而且是與我們行業 Casterra 的持續合作。因此，人們對 AgPlenus 的功能抱有很高的期望。

Yes, it's still in early stage, yes, we still need to demonstrate more and more the power of our technology, but the company is definitely in the right direction in achieving the targets.

是的，它還處於早期階段，是的，我們仍然需要展示越來越多的技術力量，但公司在實現目標方面絕對是在正確的方向上。

Eyal would you like to add something?

Eyal 您想添加一些內容嗎？

No, I think you've covered the points. I agree I think this past 12 months, 18 months was very typical for AgPlenus. And I think, yeah, we have a lot of competence in the platform and what we are doing and we are expecting that we'll see this manifest state in 2024.

不，我認為您已經涵蓋了要點。我同意我認為過去 12 個月、18 個月對 AgPlenus 來說是非常典型的。我認為，是的，我們在平台和我們正在做的事情上擁有很多能力，我們預計我們將在 2024 年看到這種明顯的狀態。

Okay. Very helpful. Thank you for that. And then your kind of a segue into my next question with the advancements you've made in ChemPass AI and particularly the Target Selector. It sounds like that's attracted interest. But if not, could you share any more on the potential positive developments that have come with the new applications or new functionality like Target Selector that have occurred here recently.

好的。很有幫助。謝謝你。然後，您將繼續討論我的下一個問題，即您在 ChemPass AI（尤其是目標選擇器）方面取得的進展。聽起來這引起了興趣。但如果沒有，您能否再分享一下最近出現的新應用程式或新功能（例如目標選擇器）所帶來的潛在正面發展。

So I think Target Selector and particularly attracts a lot of attention. I think this is truly addresses unmet need within this space -- the way we operate. I think that's, why this past period has been very crucial for AgPlenus not only developing these tools but having a proper validation process.

所以我認為目標選擇器特別吸引了許多注意力。我認為這真正解決了這個領域內未滿足的需求——我們的運作方式。我認為這就是為什麼過去的一段時間對 AgPlenus 來說非常重要，不僅是開發這些工具，而且還有適當的驗證流程。

And we see within that interest the need to see how we validate and test. But as we prove progress. We see more and more interest and better validation and confirming that the tools are good and that's work as we expect. And therefore, we that's why our confidence is very high in the platform itself and what the future hold as well.

我們在這種興趣中看到需要了解我們如何驗證和測試。但隨著我們證明進步。我們看到越來越多的興趣和更好的驗證，並確認這些工具是好的，並且正如我們所期望的那樣工作。因此，這就是為什麼我們對平臺本身以及未來充滿信心。

Okay. So the reasonable conference. And then lastly for me on Crustacean Gene Editing collaboration that you announced, does that have the potential to lead to another subsidiary? And then is that -- is it part of what you alluded to on your last call regarding some of the more food tech oriented things you have going on a -- just a little bit more on that Crustacean Gene Editing would be helpful.

好的。所以合理的會議。最後對我來說，關於您宣布的甲殼動物基因編輯合作，這是否有可能導致另一個子公司？然後是——這是你在上次電話中提到的關於你正在進行的一些更多以食品技術為導向的事情的一部分——多一點關於甲殼類動物基因編輯的內容將會有所幫助。

So first, yes, I remember that in previous call I was talking about potential activity of Evogene in the area of food tech, but I have honestly, -- I didn't vote.-- I didn't think about it because just in the project when I was talking about it, there is some other activity that hopefully will materialize into agreement and we will share it with our investors a hopefully maybe in the next quarter or so.

所以首先，是的，我記得在之前的電話會議中我談論了 Evogene 在食品技術領域的潛在活動，但老實說，--我沒有投票。--我沒有考慮到這一點，因為只是在我談論當這個項目時，還有一些其他活動希望能夠達成一致，我們希望可能在下個季度左右與投資者分享。

But I am so there is more -- under the hood and then what we disclosed in this call, we expect the Crustacean project this is a I don't see it developing into a new entity. You never know how big it could be. But at this point of time, we don't see it actually plays through this conversion, we are covering 100% from our costs.

但我認為還有更多 - 在幕後，然後我們在這次電話會議中披露的內容，我們預計甲殼類項目是一個我不認為它發展成一個新實體的項目。你永遠不知道它有多大。但目前，我們並沒有看到它實際上透過這種轉換發揮作用，我們正在從成本中支付 100%。

So we are -- in if we see even a little bit of revenue from this activity, I think this is a part from Evogene capabilities in the field of gene editing. In the past, we were leading with the biggest consortium here in Israel in the field of gene editing and I think that Evogene has some unique capabilities in this field that we can use to help other companies to improve different traits in different organisms. But at least for now, we don't see it evolving to a separate entity.

因此，如果我們從這項活動中看到哪怕一點點收入，我認為這是 Evogene 在基因編輯領域能力的一部分。過去，我們在基因編輯領域與以色列最大的財團處於領先地位，我認為 Evogene 在該領域擁有一些獨特的能力，我們可以利用這些能力幫助其他公司改善不同生物體的不同性狀。但至少目前，我們還沒有看到它演變成一個獨立的實體。

Okay, good. Well, thanks for taking my question, gentlemen, that's all I have.

好的。好的，謝謝您提出我的問題，先生們，這就是我的全部內容。

Thank you.

謝謝。

Thank you.

謝謝。

(Operator Instructions) Before I ask Mr. Ofer Haviv to go ahead with his closing statement.

（操作員指示）在我請奧弗·哈維夫先生繼續他的結案陳詞之前。

(Operator Instructions) Mr. Haviv, would you like to make your concluding statement?

（操作員指示）哈維夫先生，您願意做總結發言嗎？

Yes thank you all for joining the call today. We look forward to updating you with our progress in our next call. Thank you once again.

是的，感謝大家今天加入電話會議。我們期待在下次電話會議中向您通報我們的最新進展。再一次感謝你。

Thank you. This concludes Evogene's third quarter 2023 results conference call and thank you for your participation. You may go ahead and disconnect.

謝謝。 Evogene 2023 年第三季業績電話會議到此結束，感謝您的參與。您可以繼續並斷開連線。