Evogene Ltd (EVGN) 2023 Q4 法說會逐字稿

Ladies and gentlemen, thank you for standing by. Welcome to Evogene's Fourth Quarter and Full Year 2023 Results Conference Call. (Operator Instructions) As a reminder, this conference is being recorded, March 7, 2024.

女士們先生們，謝謝你們的支持。歡迎參加 Evogene 2023 年第四季和全年業績電話會議。（操作員說明）謹此提醒，本次會議的錄音時間為 2024 年 3 月 7 日。

Before we begin, I would like to caution that certain statements made during this earnings conference call by Evogene's management will constitute forward-looking statements that relate to future events.

在我們開始之前，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與未來事件相關的前瞻性聲明。

This investor call 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, or words of similar meaning.

本次投資者電話會議包含與未來事件相關的前瞻性陳述。這些陳述可以透過「可能」、「能夠」、「期望」、「希望」、「打算」、「預期」、「計劃」、「相信」、「計劃」、「估計」等字眼或類似含義的詞語來識別。

For example, Evogene is using forward-looking statements in this investor call when it discusses the further partnerships with industry leaders, increased sales of subsidiary products like Castor elite castor varieties and Lavie Bio, Bio inoculant [yellows] expansion beyond its current sectors, continued revenue growth for the Evogene group in 2024, potential transfer of kinetics operations to a third party, increased production of Casterra, commercialization of AG planets and Lavi Bio's products and the timing and results of clinical trials and preclinical trials of Biomica products.

例如，Evogene 在本次投資者電話會議中討論與行業領導者的進一步合作關係、Castor 精英蓖麻品種和Lavie Bio 等子公司產品的銷售增加、生物接種劑[黃色] 擴展到其當前領域之外時，使用了前瞻性陳述，繼續Evogene 集團2024 年的收入增長、動力學業務可能轉移給第三方、Casterra 產量增加、AG Planets 和Lavi Bio 產品的商業化以及Biomica 產品的臨床試驗和臨床前試驗的時間和結果。

Such statements are based on current expectations, estimates, projections and assumptions described opinions about future events involve certain risks and uncertainties which are difficult to predict and are not guarantees of future performance.

此類陳述基於當前的預期、估計、預測和假設，對未來事件的描述意見涉及某些難以預測的風險和不確定性，並且不能保證未來的績效。

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, the current war between Israel and Hamas and any worsening of the situation in Israel, such as further mobilizations or escalation in the northern border of Israel.

因此，由於多種因素，Evogene 及其子公司未來的實際結果、業績或成就可能與此類前瞻性陳述明示或暗示的內容存在重大差異，其中許多因素超出了Evogene 及其子公司的控制範圍，包括（但不限於）當前以色列與哈馬斯之間的戰爭以及以色列局勢的任何惡化，例如以色列北部邊境的進一步動員或升級。

And those risk factors contained in Evogene's report 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 preclinical 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.

這些風險因素包含在 Evogene 向相關證券監管機構提交的報告中。此外，Evogene 及其子公司依賴並預計將繼續依賴第三方來進行某些活動，例如現場試驗和臨床前研究。如果這些第三方未能成功履行其合約義務、遵守監管要求或滿足預期期限，Evogene 及其子公司可能會在進行活動時遇到嚴重延誤。

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.

Evogene 及其子公司不承擔任何更新這些前瞻性聲明以反映未來事件或預期、估計、預測和假設的發展或變更的義務或承諾。

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.

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信息，請參閱我們向美國證券交易委員會提交的報告。

Today's call will feature Ofer Haviv, President and CEO of Evogene, alongside Yaron Eldad, CFO of Evogene and Yoash Zohar, CEO of Casterra. Additionally, a representative from each subsidiary will be present at the Q&A session.

今天的電話會議將由 Evogene 總裁兼執行長 Ofer Haviv、Evogene 財務長 Yaron Eldad 和 Casterra 執行長 Yoash Zohar 參加。此外，各子公司的代表將出席問答環節。

That said, I would now like to turn over the call to Ofer Haviv, President and CEO of Evogene. Mr. Haviv, please go ahead.

也就是說，我現在想將電話轉給 Evogene 總裁兼執行長 Ofer Haviv。哈維夫先生，請繼續。

Hi, and good day, everyone. In today's conference call, I would like to start with a review of the Evogene group achievements during 2023 until today and provide you with an update on our activities as well as potential catalyst during the next 12 months.

嗨，大家好。在今天的電話會議中，我想先回顧 Evogene 集團 2023 年至今所取得的成就，並向您介紹我們活動的最新情況以及未來 12 個月的潛在催化劑。

Following my review, Casterra's new CEO, Yoash Zohar will introduce himself, provide an update on customers activity and outline the company's goals for the coming years. Evogene's CFO, Yaron Eldad will then provide a financial summary and update. After that, we will open the Q&A session.

在我的審查之後，Casterra 的新任執行長 Yoash Zohar 將進行自我介紹，提供有關客戶活動的最新信息，並概述公司未來幾年的目標。Evogene 的財務長 Yaron Eldad 隨後將提供財務摘要和最新情況。之後，我們將開始問答環節。

What a year it's been for the Evogene Group, since our last earnings call summarizing 2022. Despite the challenges we are facing collectively here in Israel. This year marked a significant shift in how the industry views our technology and product translating into growing collaborations with world-leading companies.

自從我們上次總結​​ 2022 年財報電話會議以來，對 Evogene Group 來說這是多麼美好的一年。儘管我們在以色列共同面臨挑戰。今年標誌著業界對我們的技術和產品的看法發生了重大轉變，並轉化為與世界領先公司的日益密切的合作。

The number and caliber of partnerships, Evogene and our subsidiaries have formed, it speaks volumes. Lavie Bio partnering with Corteva, ICL and Syngenta. AgPlenus partnering with Bio and Corteva. Casterra partnered with global oil and gas company, Biomica, securing investment function, high health care capital and Evogene, collaborating with Verb Biotic and colors, all highlight our growing presence and impact in the life science industry.

Evogene 和我們的子公司已經形成的合作夥伴關係的數量和水平，很能說明問題。Lavie Bio 與 Corteva、ICL 和 Syngenta 合作。AgPlenus 與 Bio 和 Corteva 合作。Casterra 與全球石油和天然氣公司 Biomica 合作，確保投資功能、高醫療保健資本，而 Evogene 與 Verb Biotic 和 Colors 合作，都凸顯了我們在生命科學行業不斷增長的影響力和影響力。

This expanding collaboration momentum validates the value of Evogene's AI tech engines, micro boost AI, campus AI and generator AI relying on our CPB platform which we have been developing for over a decade.

這種不斷擴大的合作勢頭驗證了 Evogene 的人工智慧技術引擎、微升壓人工智慧、校園人工智慧和發電機人工智慧的價值，這些引擎依賴我們十多年來開發的 CPB 平台。

Looking ahead, we anticipate further collaboration with industry leaders directly or through our subsidiaries, an increase in the volume of sales of products by our subsidiaries such as Casterra lead custom varieties in Lavie Bio, [Bio yellow] and expanding Evogene's reach beyond its current sectors of activity.

展望未來，我們預計直接或透過我們的子公司與行業領導者進一步合作，增加我們子公司的產品銷量，例如Lavie Bio、[Bio Yellow] 中的Casterra 主導定製品種，並將Evogene 的業務範圍擴大到當前領域之外的活動。

These efforts not only validate our contribution, but also strengthen our financial position through non-dilutive funding and revenue streams from upfront payments, R&D fees, milestone and direct product sale as reflected in the revenue the company reports today totaling approximately $5.6 million compared to approximately 1.7 million in 2022. We expect to see continued growth in the Evogene group revenue in 2024.

這些努力不僅驗證了我們的貢獻，還透過非稀釋性資金和來自預付款、研發費用、里程碑和直接產品銷售的收入流增強了我們的財務狀況，如公司今天報告的總收入約為560 萬美元，而去年的收入約為560 萬美元。2022 年將達到 170 萬。我們預計 2024 年 Evogene 集團營收將持續成長。

As we have new listeners on today's call, I would like to briefly review Evogene's core technology and our value proposition. Evogene has been using its computational predictive biology platform, the CPB to direct and accelerate the development of life science based products.

由於今天的電話會議有新聽眾，我想簡要回顧 Evogene 的核心技術和我們的價值主張。Evogene 一直在使用其計算預測生物學平台 CPB 來指導和加速基於生命科學的產品的開發。

The CPB is at the foundation of our three AI tech engines. Micro boosts support the development of microbe based product, Campus AI support small molecules based product, and Generative AI supports product based on genetic elements.

CPB 是我們三個人工智慧技術引擎的基礎。Micro boosts支援基於微生物的產品的開發，Campus AI支援基於小分子的產品，Generative AI支援基於遺傳元件的產品。

Our AI-driven tech engines aim to tackle the main challenges in life science product development, candidate discovery and optimization. Identifying winning candidates from adverse number of prospects and meeting complex criteria for success in commercial products.

我們的人工智慧驅動技術引擎旨在解決生命科學產品開發、候選藥物發現和優化方面的主要挑戰。從數量有限的潛在客戶中識別獲勝候選人，並滿足商業產品成功的複雜標準。

The value proposition of our AI-driven tech engines steams from the efficient finding of the needle in the haystack, therefore, increasing the probability of the success within a competitive timeframe and in cost efficient manner.

我們人工智慧驅動的技術引擎的價值主張源自於大海撈針的有效發現，因此，在有競爭力的時間範圍內以成本效益的方式增加了成功的可能性。

After reviewing our technology onto our business model, our business model revolves around two main strategies for leveraging our AI technology. Licensing, Evogene offers time-limited license to third parties, such as our subsidiaries or related entities, allowing them to use our tech engine for product development within a specific commercial domain.

在回顧我們的技術到我們的商業模式之後，我們的商業模式圍繞著利用我們的人工智慧技術的兩個主要策略。授權方面，Evogene 向第三方（例如我們的子公司或相關實體）提供有時限的許可，讓他們在特定商業領域使用我們的技術引擎進行產品開發。

This model typically generates revenue through licensing, R&D reimbursement, but more importantly, dividends to Evogene as a shareholder or a significant onetime payments upon an exit event, particularly if Evogene is a major shareholder.

這種模式通常透過許可、研發報銷產生收入，但更重要的是，向 Evogene 作為股東分紅，或在退出事件時一次性支付大量款項，特別是如果 Evogene 是大股東的話。

Collaboration, Evogene collaborate with industry leaders to jointly drive product development in these ventures our partners often take the lead in later-stage development and commercialization. While we contribute our unique tech engine to identify and optimize product candidates. Revenue from this model usually came from upfront payment, R&D fees, and royalty from sales of future end products.

協作，Evogene 與行業領導者合作，共同推動這些企業的產品開發，我們的合作夥伴通常在後期開發和商業化方面處於領先地位。同時我們貢獻我們獨特的技術引擎來識別和優化候選產品。這種模式的收入通常來自預付款、研發費用以及未來最終產品銷售的特許權使用費。

And now we are commercializing micro boost AI through licensing agreements, with Lavie Bio for art biological and with Biomica for human microbio drug development. And Evogene is also collaborating with Verb Biotic to develop probiotic products.

現在，我們正在透過授權協議將微助推人工智慧商業化，與 Lavie Bio 合作開發藝術生物製劑，與 Biomica 合作開發人類微生物藥物開發。Evogene 也與 Verb Biotic 合作開發益生菌產品。

Campus AI is commercialized through a license agreement with our subsidiary AgPlenus for our chemical product development. Generative AI is commercialized through license agreement with Casterra for caster seed variety and Canonic for medical cannabis products. Evogene is also collaborating with Colors Farm LTD on Crustacean Gene Editing Technology through generator AI.

Campus AI 透過與我們的子公司 AgPlenus 簽訂的化學產品開發授權協議實現商業化。Generative AI 透過與 Casterra 簽署的蓖麻種子品種許可協議和與 Canonic 的醫用大麻產品許可協議實現商業化。Evogene 也與 Colors Farm LTD 合作，透過人工智慧生成器開發甲殼動物基因編輯技術。

I would like now to review in more detail. The collaboration of Evogene is engaged in with third parties and then briefly review the main achievements of our subsidiaries. At the beginning of February 2024, we proudly announced the partnership between Evogene and Verb Biotics and innovative probiotics company.

我現在想更詳細地回顧一下。Evogene與第三方的合作，然後簡單回顧一下我們子公司的主要成就。2024 年 2 月初，我們很自豪地宣布 Evogene 與 Verb Biotics 和創新益生菌公司建立合作關係。

Our collaboration with Verb Biotics allows us to tap into the growing probiotics market using Evogene's micro boost AI-tech engine. Together, we are working on identifying and designing probiotic bacteria. It produces highly sustainable quantities of microbial metabolites known to improve human health and vitality. With the probiotics market projected to double to around $114 billion by 2031, we are seizing the opportunity to revolutionize this industry and provide cutting edge solutions for consumer worldwide.

我們與 Verb Biotics 的合作使我們能夠利用 Evogene 的 micro boost 人工智慧技術引擎進入不斷增長的益生菌市場。我們正在共同努力識別和設計益生菌。它產生高度可持續數量的微生物代謝物，已知可改善人類健康和活力。預計到 2031 年，益生菌市場將翻一番，達到 1,140 億美元左右，我們正在抓住機會徹底改變這個產業，並為全球消費者提供尖端的解決方案。

Earlier this year, we reported collaboration with Colors Farm and Ben Gurion University to pioneer crustacean gene editing technology aiming to enhance crustacean traits. The collaboration is powered by a grant from the Israel Innovation Authority and utilize Evogene's generator AI tech engine.

今年早些時候，我們報告了與 Colors Farm 和本古里安大學合作開發甲殼類基因編輯技術，旨在增強甲殼類動物的性狀。此次合作由以色列創新局資助，並利用 Evogene 的生成器人工智慧技術引擎。

Another milestone worth mentioning is that our Ag-Seed division secured a EUR1.2 million grant to develop oil seed crops with enhanced CO2 accumulation and drought tolerance. The program known as the EIC 2022 Horizon program, supports the business addressing climate-focus and sustainable crop development.

另一個值得一提的里程碑是，我們的農業種子部門獲得了 120 萬歐元贈款，用於開發具有增強二氧化碳累積和耐旱能力的油料種子作物。該計劃被稱為 EIC 2022 Horizo​​n 計劃，支持企業解決氣候重點和永續作物發展問題。

In this program, we utilize the Evogene generator AI tech engine capabilities as well. These partnerships exemplify our business approach and demonstrate how we use our tech engines to bring innovative products to market in sectors not covered by our subsidiaries. It's important for me to emphasize that all of these collaborations are all generating revenue to Evogene.

在此計劃中，我們還利用了 Evogene 生成器 AI 技術引擎功能。這些合作夥伴關係體現了我們的業務方法，並展示了我們如何利用我們的技術引擎將創新產品推向我們子公司未涵蓋的領域的市場。對我來說，重要的是要強調所有這些合作都為 Evogene 帶來了收入。

Now let's review our subsidiaries' achievements. I would like to start with Casterra. Evogene's fully owned subsidiary, which focuses on developing an integrated solution to enable large-scale commercial cultivation of castor bean, benefiting from its unique elite seed varieties utilizing generator AI tech engine. Casterra solutions aim to address the global demand for stable customer oil supply, mainly for the biodiesel industry.

現在讓我們回顧一下各子公司所取得的成績。我想從卡斯特拉開始。Evogene 的全資子公司專注於開發整合解決方案，以實現蓖麻子的大規模商業種植，受益於其利用生成器人工智慧技術引擎的獨特精英種子品種。Casterra 解決方案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。

The past year was pivotal for Casterra. Its vision of becoming a significant player in the biodiesel industry progresses with seeds order from award leading oil and gas company totaling $11.3 million for capital cultivation in Africa.

過去的一年對卡斯特拉來說至關重要。隨著從領先的石油和天然氣公司獲得總計 1,130 萬美元的種子訂單，用於在非洲進行資本培育，其成為生物柴油行業重要參與者的願景取得了進展。

In September, Casterra successfully delivered its first shipment of high yield, high oil Castor seeds from Brazil and Zambia to an African region, generating revenue of approximately $1 million. Established earlier this week, the company recently signed agreements with existing and new seed producers in Brazil and Africa to increase its production capabilities of Castor season in 2024, which are expected to add approximately 400 tons. This new agreement will enable the company to support the existing seed orders.

9月，Casterra成功地將第一批高產量、高油蓖麻籽從巴西和尚比亞運送到非洲地區，創造了約100萬美元的收入。該公司於本週稍早成立，最近與巴西和非洲現有和新的種子生產商簽署了協議，以提高其2024年蓖麻季的生產能力，預計將增加約400噸。這項新協議將使該公司能夠支持現有的種子訂單。

Looking forward to 2024, Casterra is committed to expanding its Castor Seeds production capacity through securing agreement with additional subcontractors in Brazil and Africa on which we expect to update.

展望 2024 年，Casterra 致力於透過與巴西和非洲的其他分包商達成協議來擴大其蓖麻籽產能，我們預計將更新相關協議。

Finally, on January 2024, we welcomed Yoash Zohar, as Casterra's new CEO, who will later present himself. Yoash. bring a wealth of experience in global IT projects, and I'm confident in his ability to propel the company forward. I wish him and the rest of the Casterra's team. Good luck.

最後，我們在 2024 年 1 月迎來了 Yoash Zohar，擔任 Casterra 的新任首席執行官，他稍後將親自亮相。喲阿什。他帶來了豐富的全球IT專案經驗，我對他推動公司前進的能力充滿信心。我祝福他和卡斯特拉團隊的其他成員。祝你好運。

Now I would like to review our wholly owned subsidiary AgPlenus aiming to discover next-generation innovative crop protection products, including herbicide, insecticide and fungicide and commercialize them through collaboration with world-leading partners.

現在我想回顧一下我們的全資子公司AgPlenus，該公司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。

AgPlenus utilize Evogene campus AI tech-engines to accelerate and direct its product development. Major other chemical companies dominant today's crop protection industry. Still they look to smaller Agtech companies to discover new targets, proteins and small molecule that inhibits such target proteins, serving as the active ingredient in commercial crop protection products. AgPlenus is the company that addresses this need.

AgPlenus 利用 Evogene 校園人工智慧技術引擎來加速並指導其產品開發。其他主要化學公司在當今的作物保護產業中佔據主導地位。儘管如此，他們仍然希望較小的農業科技公司能夠發現新的標靶、蛋白質和抑制此類標靶蛋白質的小分子，作為商業作物保護產品的活性成分。AgPlenus 是一家滿足這項需求的公司。

As I stated in the previous call, there is a growing interest in AgPlenus product pipeline. And recently, we were fortunate to see that interest materialize. In February 2024, AgPlenus announced the signing of a licensing and collaboration agreement with Bayer’s Crop Science division. Under the agreement AgPlenus will use its AI driven computational modeling technology to design and optimize the molecule identified for their broad-spectrum herbicidal activity targeting the APTH1 protein, a new mode of action identified by AgPlenus.

正如我在先前的電話會議中所說，人們對 AgPlenus 產品管道的興趣與日俱增。最近，我們很幸運地看到這種興趣成為現實。2024 年 2 月，AgPlenus 宣布與拜耳作物科學部門簽署許可和合作協議。根據協議，AgPlenus 將使用其人工智慧驅動的計算建模技術來設計和優化針對 APTH1 蛋白的廣譜除草活性分子，這是 AgPlenus 確定的一種新的作用模式。

Bayer will have the exclusive license for developing and commercializing products developed with in the collaboration. AgPlenus will be entitled to receive an upfront payment, ongoing research funding, milestone payments and royalty based on future product sales. Another impressive and important announcement was the milestone achievement in the ongoing collaboration with Corteva for the development of novel herbicides.

拜耳將擁有開發和商業化合作開發的產品的獨家許可。AgPlenus 將有權根據未來產品銷售情況獲得預付款、持續研究經費、里程碑付款和特許權使用費。另一個令人印象深刻且重要的公告是與 Corteva 持續合作開發新型除草劑所取得的里程碑式成就。

The maximum mark, the successful identification of a new family of molecules exhibiting herbicidal effect through a novel mode of action APCO-12 discovered by AgPlenus. In the next phase, the collaboration will optimize the identified molecule toward commercial level products utilizing AgPlenus cutting edge competitional technology powered by Evogen's campus AI tech-engine. These two collaborations strengthen AgPlenus financial position and overall perceptions in the agriculture markets.

最大的標誌是，透過 AgPlenus 發現的新型作用模式 APCO-12 成功鑑定出具有除草效果的新分子家族。在下一階段，合作將利用由 Evogen 校園人工智慧技術引擎支援的 AgPlenus 尖端競爭技術，將已確定的分子優化為商業級產品。這兩項合作增強了 AgPlenus 的財務狀況和農業市場的整體認知。

Last but not least, we introduced Dr. Dan Jacob Gelvan as AgPlenus new CEO, Dan's extensive experience and proven track record well position him to guide AgPlenus through its next phase of growth and innovation.

最後但並非最不重要的一點是，我們介紹 Dan Jacob Gelvan 博士擔任 AgPlenus 新任首席執行官，Dan 豐富的經驗和良好的業績記錄使他能夠指導 AgPlenus 下一階段的增長和創新。

AgPlenus former CEO, Dr. Brian Ember has transitioned to Chief Business Officer. I would like to thank Brian for his contribution and leadership to AgPlenus, and I look forward to continuing our work together in his new role. AgPlenus is looking toward an exciting year. With new management in place, the collaborative agreements signed with Bayer in February and the milestone reached in the Corteva collaboration in March 2024 is looking bright for the company. Alongside those AgPlenus will continue to advance its pipeline bet on the campus AI tech-engine and seek additional collaboration with existing and new partners.

AgPlenus 前執行長 Brian Ember 博士已轉任首席商務長。我要感謝 Brian 對 AgPlenus 的貢獻和領導，我期待在他的新職位上繼續我們的合作。AgPlenus 期待著激動人心的一年。隨著新管理層就位，2 月與拜耳簽署的合作協議以及 2024 年 3 月與 Corteva 合作達成的里程碑，對該公司來說前景光明。除此之外，AgPlenus 將繼續推進其在校園人工智慧技術引擎上的投入，並尋求與現有和新合作夥伴的更多合作。

I would like now to continue with the two subsidiaries using micro boost AI to accelerate and Director of Product Development Biomica and Lavie Bio. Biomica specializing in developing microbiome therapeutics for human health, utilizing Evogene's micro boost AI tech-engine to discover and optimize microbe, which there are particular potential.

我現在想繼續與這兩家子公司一起使用 micro boost AI 來加速，並擔任 Biomica 和 Lavie Bio 的產品開發總監。Biomica 專注於開發人類健康微生物組療法，利用 Evogene 的微助推人工智慧技術引擎來發現和優化具有特殊潛力的微生物。

In April 2023, Biomica completed a $20 million financing round, wester high healthcare capital investments of $10 million. This investment made at a post-money valuation of $50 million serve as an external validation of Biomica's long-term potential. Biomica's flagship product candidate BMC128 targeting immune oncology patient, is currently undergoing Phase 1 clinical trials. The trial initiated at the random healthcare campus in Israel and to assess BMC128 safety and tolerability in combination with Bristol Myers Squibb's Opdivo immunotherapy.

2023年4月，Biomica完成2,000萬美元融資，西高醫療資本投資1,000萬美元。這項投資的投後估值為 5,000 萬美元，是 Biomica 長期潛力的外部驗證。Biomica的旗艦候選產品BMC128針對免疫腫瘤患者，目前正在進行一期臨床試驗。該試驗在以色列隨機醫療保健園區啟動，旨在評估 BMC128 與百時美施貴寶 Opdivo 免疫療法聯合使用的安全性和耐受性。

In August 2023, Biomica expanded its operations by opening a second site, added a bit of Cancer Center in Israel to facilitate additional patient recruitment for the clinical trial. In January 2024, Biomica have reached a significant milestone by completing Phase 1 trial enrollment for its microbiome best immuno-oncology drugs with preliminary results showing promising outcomes. Initial data point, readout is anticipated during 2024.

2023 年 8 月，Biomica 透過開設第二個站點擴大了業務，並在以色列增加了一些癌症中心，以促進臨床試驗招募更多患者。2024 年 1 月，Biomica 完成了其微生物組最佳免疫腫瘤藥物的 1 期試驗註冊，達到了一個重要的里程碑，初步結果顯示出有希望的結果。初始數據點預計將於 2024 年讀出。

In July 2023, Biomica reported positive interim results from preclinical studies on its IBS program conducted in collaboration with Professor [Kira growth, my colleagues] lab at New York University. This results demonstrate the efficacy of Biomica's live bacterial consortia, BMC426 and BMC427 alleviating visceral pain, a major symptom of IBS, presenting promising new treatment Avenue. Biomedica intend to conduct further preclinical studies on BMC426 and BMC427 to prepare for clinical trial.

2023 年 7 月，Biomica 報告了與紐約大學教授 [Kira Growth，我的同事] 實驗室合作進行的 IBS 計畫臨床前研究的積極中期結果。這結果證明了 Biomica 的活細菌群落 BMC426 和 BMC427 可以緩解內臟疼痛（IBS 的主要症狀）的功效，從而提供了有前景的新療法 Avenue。Biomedica擬對BMC426和BMC427進行進一步的臨床前研究，為臨床試驗做準備。

Looking ahead, Biomica remains committed to addressing its efforts and aims to submit an IND application for BMC128 targeting immune oncology patients during the third quarter of 2024, apivotal step in preparing for Phase 2 clinical trial in the US.

展望未來，Biomica 仍致力於努力，並計劃於 2024 年第三季提交針對免疫腫瘤患者的 BMC128 IND 申請，這是為美國 2 期臨床試驗做準備的關鍵一步。

In addition, the company will continue to advance it candidate in the IBS and IBD program towards Phase 1 clinical trials. Now to Lavie Bio, who leverages Evogene's micro boost AI tech-engine to develop next-generation at biological products.

此外，該公司將繼續推進 IBS 和 IBD 計畫的候選藥物進入一期臨床試驗。現在輪到 Lavie Bio，他利用 Evogene 的 micro boost AI 技術引擎開發下一代生物產品。

In addition to Evogene's majority ownership, Lavie Bio has two additional major shareholders, Corteva and New York listed multinational Agtech giant and ICL and New York listed global minerals and Agtech company.

除了Evogene的多數股權外，Lavie Bio還有另外兩個主要股東，Corteva和紐約上市的跨國農業科技巨頭以及ICL和紐約上市的全球礦業和農業科技公司。

In July 2023, Lavie Bio entered a licensing agreement with Corteva conferring exclusive rights to Corteva for advancing and commercializing Lavie Bio lead the bio-fungicides, LAV311 and LAV312, targeting fruit rots. This agreement followed two years of independent field validation trials conducted by both companies. Under the agreement, Lavie Bio received an initial payment of $5 million and will also be eligible for additional future milestone payments and royalties from Corteva's future sales of the product.

2023 年 7 月，Lavie Bio 與 Corteva 簽訂了許可協議，授予 Corteva 獨家權利，以推進和商業化 Lavie Bio 領先的針對水果腐爛的生物殺菌劑 LAV311 和 LAV312。該協議是在兩家公司進行了兩年的獨立現場驗證試驗後達成的。根據協議，Lavie Bio 收到了 500 萬美元的首期付款，並且還將有資格從 Corteva 未來產品銷售中獲得額外的未來里程碑付款和特許權使用費。

Another major step for Lavie Bio was the recent announcement in February 2024 of the agreements with Syngenta for the discovery and development of new biological insecticidal solution. The collaboration will leverage Lavie Bio's unique technology platform to rapidly identify and optimize bio-insecticide candidates. These two collaboration strengthens Lavie Bio financial position and overall perception in the agricultural market.

Lavie Bio 的另一個重大舉措是最近於 2024 年 2 月宣布與先正達達成發現和開發新型生物殺蟲解決方案的協議。此次合作將利用 Lavie Bio 獨特的技術平台來快速識別和優化候選生物殺蟲劑。這兩項合作增強了 Lavie Bio 的財務狀況和在農業市場的整體認知。

Now, let's move from collaborations to product sales. Lavie Bio's first bio inequivalent products Yalos achieved several impressive milestones. In May 2023, Yalos obtain regulatory approval from the Canadian Food Inspection Agency, expanding its sales territory significantly and tripling its reach.

現在，讓我們從合作轉向產品銷售。Lavie Bio 的首款生物非等效產品 Yalos 實現了幾個令人印象深刻的里程碑。2023年5月，Yalos獲得了加拿大食品檢驗局的監管批准，其銷售領域大幅擴大，覆蓋範圍擴大了兩倍。

In November 2023, Yalos expanded its scope to include durum and barley varieties across the US and Canada. This expansion follows successful field trials in 2023, demonstrating an average of approximately 7% of yield increase in durum and barley.

2023 年 11 月，Yalos 擴大了其範圍，涵蓋美國和加拿大的硬粒小麥和大麥品種。這次擴張是在 2023 年成功進行田間試驗之後進行的，結果顯示硬粒小麥和大麥的產量平均增加了約 7%。

In December 2023, Lavie Bio secured an exclusive distribution agreement with Winfield United Canada for Yalos aiming to drive sales growth in key Canadian agriculture regions, including Saskatchewan, Alberta, and Manitoba. The focus of the distribution agreement is on spring wheat, durum, and burley crops.

2023 年 12 月，Lavie Bio 與 Winfield United Canada 簽署了 Yalos 的獨家經銷協議，旨在推動加拿大主要農業地區的銷售成長，包括薩斯喀徹溫省、艾伯塔省和馬尼托巴省。分銷協議的重點是春小麥、硬質小麥和白肋麥作物。

Overall Yalos made significant strides in regulatory approval, product expansion and distribution partnership, positioning it as a valuable tool for enhancing crop productions and addressing environmental challenges in the agricultural industry.

總體而言，Yalos 在監管審批、產品擴展和分銷合作夥伴關係方面取得了重大進展，將其定位為提高作物產量和應對農業產業環境挑戰的寶貴工具。

Looking forward to 2024, Lavie Bio will continue to focus on three main pillars. The first will be to grow the sales and distribution of the company. The bioequivalent product Yalos in the US and Canada. The second is to continue driving the company's pipeline of innovative products toward commercialization, including special focus on the company's strategic partnership with Corteva, ICL and the recent one with Syngenta.

展望2024年，樂維生物將持續聚焦三大支柱。首先是增加公司的銷售和分銷。美國和加拿大的生物等效產品 Yalos。二是持續推動公司創新產品系列走向商業化，包括特別關注公司與 Corteva、ICL 以及最近與先正達的策略合作夥伴關係。

The last pillar will be to continue advancing the company's unique technology platform. The ability powered by Evogene micro boost AI tech-engine with new tools and capabilities. Finalizing my review of our subsidiaries, I would like to update on Canonic, which provide tailored that medical cannabis products.

最後一個支柱將是繼續推動公司獨特的技術平台。Evogene micro 提供的能力透過新的工具和功能增強了人工智慧技術引擎。在完成對我們子公司的審查後，我想介紹一下佳能的最新情況，該公司提供客製化的醫用大麻產品。

Following my previous update in Q3 2023, in which we noted that we have decided to reduce our investment in Canonic due to the challenging market conditions of the medical cannabis sector. We have recently engaged in advanced discussions relating to the potential transfer to a third party of Canonics operations. There is no assurance that such transfer will be completed or in what terms. We will continue to update you on this matter.

繼我在 2023 年第三季的最新更新之後，我們指出，由於醫用大麻產業充滿挑戰的市場狀況，我們決定減少對 Canonic 的投資。我們最近就將 Canonics 業務轉讓給第三方的可能性進行了深入討論。無法保證此類轉讓將會完成或以何種條件完成。我們將繼續向您通報此事的最新情況。

No doubt, 2023 was an exciting year for the Evogene group filled with achievements. Looking forward to 2024, we expected to see continued growth and additional collaborations benefiting from Evogene 3, AI tech engine. We ended 2023 with a solid cash balance of approximately 31.1 million and are expecting additional cash injections from collaboration and product sales.

毫無疑問，2023年對Evogene集團來說是個令人興奮、豐碩的一年。展望 2024 年，我們預期人工智慧技術引擎 Evogene 3 將帶來持續成長和更多合作。2023 年底，我們擁有約 3,110 萬美元的穩健現金餘額，並預計透過合作和產品銷售獲得更多現金注入。

This concludes my review of the Evogene's Group activities. Now you asked Zohar, Casterra's new CEO, will take the lead.

我對 Evogene 集團活動的回顧到此結束。現在您要求 Casterra 新任執行長佐哈爾 (Zohar) 來帶頭。

Thank you, Ofer, and good day, everyone. I would like to start by thanking the exceptional team at Casterra for overcoming during this pivotal moment for the company and expressing my sincere gratitude to the Evogene management for their support. As we face the challenges ahead and filled with optimism driven by the great potential, I see in Casterra, ensuring a reliable and stable supply of customer seats is crucial in meeting our customers' demands while contributing positively to local economies.

謝謝奧弗，大家好。首先，我要感謝 Casterra 傑出的團隊在公司的這一關鍵時刻克服了困難，並對 Evogene 管理層的支持表示衷心感謝。當我們面對未來的挑戰並充滿巨大潛力所驅動的樂觀情緒時，我在卡斯特拉看到，確保可靠和穩定的客戶座位供應對於滿足客戶需求同時為當地經濟做出積極貢獻至關重要。

Our recently signed agreements with seed producers in Africa and Brazil, strengthen our supply chain and market strategic change towards diversifying our production sources. I believe Evogene innovative AI technology will play a crucial role in shaping the future of customer seats, solidifying customer's position as a world leader in the field. Together, I'm confident that we will leverage technology to maintain customers' competitive edge and achieve unparalleled success in the global market.

我們最近與非洲和巴西的種子生產商簽署了協議，加強了我們的供應鏈和市場策略轉變，以實現生產來源多元化。我相信Evogene創新的人工智慧技術將在塑造客戶座椅的未來方面發揮至關重要的作用，鞏固客戶在該領域的全球領導者地位。我相信，我們將共同利用科技來維持客戶的競爭優勢，並在全球市場上取得無與倫比的成功。

Thank you, Yoash. As of December 31, 2023, Evogene had consolidated cash, cash equivalents and short-term bank deposits of approximately $31.1 million. Evogene, together with Casterra, Canonics and AgPlenus possessed an aggregate of $12.4 million in cash, Biomica $12.7 million and Lavie Bio $6 million.

謝謝你，約阿什。截至 2023 年 12 月 31 日，Evogene 的合併現金、現金等價物和短期銀行存款約為 3,110 萬美元。Evogene、Casterra、Canonics 和 AgPlenus 總共擁有 1,240 萬美元現金，Biomica 擁有 1,270 萬美元現金，Lavie Bio 擁有 600 萬美元現金。

In July 2023, the company entered into securities purchase agreements with institutional investors in a registered direct offering of shares only. The gross proceeds from the offering were approximately $8.5 million.

2023年7月，該公司僅以註冊直接發行股票的方式與機構投資者簽訂了證券購買協議。此次發行的總收益約為 850 萬美元。

Looking ahead to 2024, we expect an approximate cash usage of $8 million, excluding Lavie Bio and Biomica, which is significant decline compared to $12.5 million in 2023. This decline is mainly attributable to an expected increase in revenue in 2024 and a decrease in expenses due to the decline in Canonic's activity. The total consolidated burn rate is expected to decline in 2023 as well to $21 million compared to $23.1 million in 2023. We do not have any bank debt.

展望 2024 年，我們預計現金使用量約為 800 萬美元（不包括 Lavie Bio 和 Biomica），與 2023 年的 1,250 萬美元相比大幅下降。這一下降主要歸因於 2024 年收入的預期增加以及佳能業務活動減少導致的費用減少。預計 2023 年綜合燒錢總額也將下降至 2,100 萬美元，而 2023 年為 2,310 萬美元。我們沒有任何銀行債務。

I would like now to highlight some specific items on the P&L. Revenues for 2023 were approximately $5.6 million in comparison to approximately $1.7 million in 2022. The increase in revenues was primarily due to $2.5 million generated by Lavie Bio as a licensing fee in the frame of its collaboration with Corteva as well as direct revenue recognized from Casterra sale of castor seeds.

我現在想強調損益表上的一些具體項目。2023 年的收入約為 560 萬美元，而 2022 年的收入約為 170 萬美元。收入的成長主要是由於 Lavie Bio 在與 Corteva 合作的框架內產生了 250 萬美元的授權費，以及 Casterra 蓖麻籽銷售所確認的直接收入。

R&D expenses for the fourth quarter of 2023, which are reported net of nonrefundable grants received were approximately $5.5 million in comparison approximately $4.8 million in the same period in the previous year. R&D expenses for the full year 2023 were approximately $20.8 million and remained stable compared to 2022. The main contributors to R&D expenses during 2023, will Lavie Bio activities and Biomica development efforts.

2023 年第四季的研發費用（扣除收到的不可退還補助金後）約為 550 萬美元，而去年同期約為 480 萬美元。2023年全年研發費用約2,080萬美元，與2022年相比維持穩定。2023 年研發費用的主要貢獻者將是 Lavie Bio 活動和 Biomica 開發工作。

Sales and marketing expenses for the fourth quarter of 2023 were approximately $1 million, reflecting a slight decrease compared to approximately $1.2 million in the same period the previous year. For the full year 2023, sales and marketing expenses were approximately $3.6 million in comparison to approximately $3.9 million in 2022.

2023年第四季的銷售和行銷費用約為100萬美元，較上年同期的約120萬美元略有下降。2023 年全年，銷售和行銷費用約為 360 萬美元，而 2022 年約為 390 萬美元。

General and administrative expenses for the fourth quarter of 2023 were approximately $1.2 million in comparison to approximately $1.7 million in the same period in the previous year. For the full year 2023, general and administrative expenses were approximately $6.1 million in comparison to approximately $6.5 million in 2022. The decrease was mainly attributed to the decrease in the costs of directors' and officers' insurance.

2023 年第四季的一般及管理費用約為 120 萬美元，而去年同期約為 170 萬美元。2023 年全年，一般及管理費用約為 610 萬美元，而 2022 年約為 650 萬美元。減少的主要原因是董事和高階主管的保險費用減少。

Other income in the fourth quarter of 2022, the company received $3.5 million from Bayer under the joint seed trait collaboration agreement as part of restructuring and release of the patent filing, prosecution and maintenance obligation under the collaboration.

2022年第四季的其他收入，該公司根據聯合種子性狀合作協議從拜耳獲得了350萬美元，作為重組和解除合作下的專利申請、起訴和維護義務的一部分。

Operating loss for the fourth quarter of 2023 was approximately $7.6 million in comparison to an operating loss of approximately $3.8 million in the same period in the previous year. The increase in the operating loss was mainly due to the other income recorded in the fourth quarter of 2022 as mentioned above.

2023 年第四季的營運虧損約為 760 萬美元，而去年同期的營運虧損約為 380 萬美元。營業虧損增加主要是由於上述2022年第四季所錄得的其他收入。

Operating loss for the full year 2023 was approximately $26.5 million in comparison to $26.9 million in 2022, mainly due to the significant increase of revenues in 2023, offset by the other income recorded in 2022.

2023 年全年營運虧損約 2,650 萬美元，而 2022 年為 2,690 萬美元，主要是由於 2023 年收入大幅增加，被 2022 年記錄的其他收入所抵銷。

Financing income net for the fourth quarter of 2023 was approximately $297,000 compared to approximately $6,000 in the same period in the previous year.

2023 年第四季的融資收入淨額約為 297,000 美元，而去年同期約為 6,000 美元。

Financing income net for the full year 2023 was approximately $521,000 compared to financing expenses of approximately $2.8 million in the same period in the previous year. The difference between periods was mainly due to the USD and the new Israeli shekel exchange rate, a change in the value of marketable securities and interest income compared to the same period in the previous year.

2023 年全年的融資收入淨額約為 521,000 美元，而去年同期的融資費用約為 280 萬美元。期間差異主要是由於美元和以色列新謝克爾匯率、有價證券價值和利息收入與去年同期相比的變化所致。

Net loss for the fourth quarter of 2023 was approximately $7.3 million in comparison to a net loss of approximately $3.8 million in the same period in the previous year. The increase in net loss during the fourth quarter of 2023 is mainly due to other income received in 2022, as mentioned above, net loss for the full year 2023 was approximately $26 million in comparison to a net loss of approximately $29.8 million for 2022. With that, both Ofer and I would now like to open the call for any questions you may have.

2023 年第四季的淨虧損約為 730 萬美元，而去年同期淨虧損約為 380 萬美元。2023年第四季淨虧損增加主要是由於2022年收到的其他收入所致，如上所述，2023年全年淨虧損約為2,600萬美元，而2022年淨虧損約為2,980萬美元。至此，奧弗和我現在願意開始通話，回答您可能提出的任何問題。

Thank you. Ladies and gentlemen, at this time we will begin the question and answer session. (Operator Instructions)

謝謝。女士們、先生們，現在我們將開始問答環節。（操作員說明）

Ben Klieve, Lake Street Capital.

Ben Klieve，湖街資本。

I thank you for taking my questions. A few questions, the first couple regarding Casterra. You talked about the increased access to farmers supplying you with Castor seed. I'm wondering if you can characterize if you feel confident that you have enough inventory to fill the entirety of the initial $11.3 million order in 2024. Do you guys feel comfortable with the inventory that you're going to have to do that, or do you think there's any variability there?

我感謝您回答我的問題。有幾個問題，第一個問題是關於卡斯特拉的。您談到了向您提供蓖麻籽的農民的增加。我想知道您是否有信心擁有足夠的庫存來滿足 2024 年最初 1130 萬美元的全部訂單。你們對必須這樣做的庫存感到滿意嗎，或者你們認為那裡有任何變化嗎？

Hi, Ben. This is Ofer, and Yoash, is also online. Yoash, the CEO of Casterra, We believe that we would be able to supply the orders we receive in 2023 during 2024. A fraction will come from a seed production that was initiated during 2023. And now it's on its way. The rest will come from a production that we are going to conduct during this year, which -- this is the part from what we announced during the last quarter. So the answer to your question is yes.

嗨，本。我是 Ofer，Yoash 也在線。Casterra執行長Yoash表示，我們相信我們能夠在2024年期間供應2023年收到的訂單。一小部分將來自 2023 年啟動的種子生產。現在它正在路上。其餘的將來自我們今年將進行的製作，這是我們在上個季度宣布的部分。所以你的問題的答案是肯定的。

Great. That's great. Thank you and so a follow-up question to that then is regarding a follow-on order from this unnamed energy partner. Can you characterize what is needed in order for a follow-on order to be received. So do you guys need to deliver fully before you think they will commit to a follow-on? Or are there ongoing discussions about a follow on order currently, what can you help us understand about expectations and timing around that?

偉大的。那太棒了。謝謝，接下來的問題是關於這個未透露姓名的能源合作夥伴的後續訂單。您能否描述一下接收後續訂單需要什麼？那麼你們認為他們會承諾推出後續作品之前是否需要完全交付？或者目前是否正在討論後續訂單，您可以幫助我們了解有關該訂單的期望和時間表嗎？

And so we are already starting to talk with our partners with respect to orders for a year 2025. I believe that the main challenge is still to be able to produce the needed quantity for the year 2025. So in a way, our plans for the year 2024 is to produce the caster seeds, not just in order to supply the existing purchase order we received in 2023.

因此，我們已經開始與合作夥伴討論 2025 年的訂單。我認為主要的挑戰仍然是能夠生產 2025 年所需的數量。因此，在某種程度上，我們 2024 年的計畫是生產蓖麻種子，而不僅僅是為了供應我們在 2023 年收到的現有採購訂單。

Our target is also to end the year with inventory and a seed production in the field that will support the demand for 2025. So bottom line as part from an event -- a progressing in supplying the seed for this year, we are expecting also to receive order for next year, and we will start the production during 2024 as preparation for 2025.

我們的目標還包括在年底實現庫存和田間種子生產，以滿足 2025 年的需求。因此，作為一項活動的一部分——今年種子供應取得進展，我們預計還會收到明年的訂單，我們將在 2024 年開始生產，為 2025 年做準備。

Great. Great. That's very helpful.

偉大的。偉大的。這非常有幫助。

Thank you, Ofer. The tipping over to Canonic, in your prepared remarks, ofer, you talked about kind of a strategic review that's going on there. And looking at your options -- is your hope for canonic that this is something that that Evogene will still retain ownership of, but maybe in a different structure than it is today? Or is this an operation that you think is one that is potentially going to be noncore and something that would be outside of Evogene here in coming quarters?

謝謝你，奧弗。在您準備好的發言中，您談到了正在對佳能進行的策略審查。看看你的選擇——你是否希望 Evogene 仍保留對 Canonic 的所有權，但可能採用與今天不同的結構？或者您認為這項業務可能會成為非核心業務，並且在未來幾季將屬於 Evogene 以外的業務？

So I think that's our final target is that starting from this year Canonical monitoring activity won't be a material in our P&L and the way that we are planning to achieve is by an integrate Canonical activity to other third party that we are talking with and still it's under discussion, but that is that stay on time, but a minority shareholder in a company, but we won't continue to invest in this activity. The way that we did in the previous in a previous years. So bottom line, we might do with some rights through equity or to other mechanism in this field. But we will stop to invest in the Cannabis industry.

因此，我認為我們的最終目標是，從今年開始，Canonical 監控活動將不再是我們損益表中的重要內容，我們計劃實現的方式是將 Canonical 活動與我們正在交談的其他第三方進行整合，仍在討論中，但那就是按時留任，但成為公司的少數股東，但我們不會繼續投資這項活動。就像我們前幾年所做的那樣。因此，最重要的是，我們可能會透過股權或該領域的其他機制來獲得一些權利。但我們將停止投資大麻產業。

Great, great. Thank you. And then one last one for me and then I'll get back in queue as it pertains to Lavie Bio, I had to hop on and off the call here when you were talking about this. So if I'm making you repeat yourself, I apologize. But can you talk about the supply chain that Lavie Bio and that I know had some challenges last year. I believe you have that supply chain really secure to really enable a more material commercial launch of Yalos s here in 2024. Can you just confirm that really the inventory build in support of a commercial launch in place? Are there any supply chain challenges that you're still working through?

很棒很棒。謝謝。然後是我的最後一個，然後我會回到隊列，因為它與 Lavie Bio 有關，當你談論這個問題時，我不得不在這裡上下通話。所以，如果我讓你重複一遍，我深感抱歉。但你能談談 Lavie Bio 和我所知道的供應鏈去年遇到的一些挑戰嗎？我相信你們擁有真正安全的供應鏈，能夠在 2024 年真正實現 Yalos 的更多實質商業發布。您能否確認庫存確實是為了支持商業發布而建立的？您仍在解決哪些供應鏈挑戰嗎？

So I think that the in this case, I have a good news. So it's really nice to see that you remember that we had some challenges in producing Yalos in 2023 -- in 2022. But I'm very happy to report that we successfully produce the quantity that we were targeting and even a little bit more than what we were targeting for the sell season of 2024. So we are in a good shape. We changed the tool manufacture and we are very happy with this performance and the quality of the product.

所以我認為在這種情況下，我有一個好消息。因此，很高興看到您記得我們在 2023 年乃至 2022 年生產 Yalos 時遇到了一些挑戰。但我很高興地向大家報告，我們成功生產了我們的目標數量，甚至比我們 2024 年銷售季的目標還要多一點。所以我們的狀態很好。我們改變了工具製造方式，我們對產品的性能和品質非常滿意。

Great. Great. Very good. Well, appreciate you taking my questions, plenty more to talk about. but that's a good place to leave it. I'll get back in queue.

偉大的。偉大的。非常好。嗯，感謝您回答我的問題，還有很多要談的。但那是一個留下它的好地方。我會回到隊列中。

Thank you.

謝謝。

Ben Haynor, Alliance Global Partners.

Ben Haynor，聯盟全球合作夥伴。

Good day, gentlemen. Thanks for taking the questions. Wanted to focus on AgPlenus and the agreements be out there with their and Corteva on ABC012 and APTH1. What do we expect kind of from a development time line there and win? and how large to the extent that you can discuss might some of these upfront milestone payments, royalties, et cetera, be as part of these agreements here?

美好的一天，先生們。感謝您提出問題。希望重點關注 AgPlenus 以及與他們和 Corteva 就 ABC012 和 APTH1 達成的協議。我們對那裡的開發時間線有何期望並獲勝？您可以討論的範圍有多大，其中一些前期里程碑付款、特許權使用費等可以作為這些協議的一部分？

Thank you, Ben, for this question. First, I would like to use this question and to share with people participant in this call, how proud we are that we are in a position that Lavie Bio our subsidiary in the world of ag-biological, is collaborating and working with third monsters in the ag-industry. ICL, Corteva and Syngenta, and we also have AgPlenus working with a no Corteva and also his buyer. It's really incredible that, today we're in the Evogene group we are working with almost all the first tier type of companies. I think that only BSF is the only company that we are not working yet. And probably this is only a question of time.

本，謝謝你提出這個問題。首先，我想用這個問題並與參加本次電話會議的人分享，我們是多麼自豪，我們在農業生物領域的子公司 Lavie Bio 正在與第三個怪物在農業工業。ICL、Corteva 和先正達，我們還有 AgPlenus 與非 Corteva 及其買家合作。令人難以置信的是，今天我們在 Evogene 集團中，幾乎與所有一線類型的公司都有合作。我認為只有 BSF 是我們唯一還沒有合作的公司。也許這只是時間問題。

So I think that this is something worth to note. Well, respect to your question, I think that the both the ongoing collaboration with Corteva and with Bayer, they are an important part from funding of AgPlenus activity for the next few years. There is a reason why we report on the Bayer collaboration agreement in a 6-K format.

所以我覺得這是一件值得注意的事情。好吧，關於你的問題，我認為與 Corteva 和拜耳正在進行的合作，它們是未來幾年 AgPlenus 活動資金的重要組成部分。我們以 6-K 格式報告拜耳合作協議是有原因的。

I can disclose, of course, the numbers. But as we mentioned, this agreement include upfront payment, R&D fee and then, of course, milestone payments and royalty. I think what is important in these two announcement is that the first -- that another first tier company choosing AgPlenus to work with to develop one of the most important product in the ag-chemical industry, herbicide.

當然，我可以透露具體數字。但正如我們所提到的，該協議包括預付款、研發費，當然還有里程碑付款和特許權使用費。我認為這兩個公告中最重要的是第一個——另一家一線公司選擇與 AgPlenus 合作開發農業化學行業最重要的產品之一——除草劑。

And the second announcement. If you think about it, this is the first time that we have confirmation from a third party that our tech engine, a campus and the AgPlenus succeed achieve a milestone. I think this is very important news.

還有第二個公告。如果你仔細想想，這是我們第一次得到第三方的確認，證明我們的技術引擎、園區和 AgPlenus 成功實現了一個里程碑。我認為這是一個非常重要的消息。

Now, as I said, we expect that the significant portion from AgPlenus expenses budget will be covered by these two collaborations. And I hope and believe that there will be more in the future and I think that what we should expect in the near future is achieving additional milestones that will present the progress of this collaboration.

現在，正如我所說，我們預計 AgPlenus 支出預算的很大一部分將由這兩項合作支付。我希望並相信未來會有更多，我認為在不久的將來我們應該期待實現更多的里程碑，以展示這次合作的進展。

With respect to royalty, it still will take some time. But like in the ag-biological arena, what is important is advancing in the pipeline because the value creation scheme is a rapidly increase when you are moving from a hit to lead, to optimize lead, et cetera. So this is great news for AgPlenus that we achieved first milestone in the collaboration with Corteva. And now we are looking at what to do next challenges and milestones, which we believe will achieve them.

至於版稅，還需要一些時間。但就像在農業生物領域一樣，重要的是在管道中前進，因為當你從熱門轉向領先、優化領先等時，價值創造計劃會迅速增加。因此，這對 AgPlenus 來說是個好消息，我們在與 Corteva 的合作中實現了第一個里程碑。現在我們正在考慮下一步要做什麼，我們相信這些挑戰和里程碑將會實現。

Okay, great. And maybe just a follow up on the near term milestones, are P&L expected to hit this year?

好的，太好了。也許只是近期里程碑的後續，今年損益表預計會達到嗎？

Can you repeat what you said just now?

你能重複一下你剛才說的話嗎？

Sure. I think you said that near term milestones -- milestone payments, is that upcoming milestone payments are any loan expected to be recognized this year?

當然。我想你說的是近期里程碑——里程碑付款，即將到來的里程碑付款是今年預計會得到確認的貸款嗎？

So there are some milestones that we are trying to reach during this year, not necessarily AgPlenus, there is an other agreements in the group, let's say we are targeting for. But milestones, also depends on research activity. So yes, we are exploring and looking forward to see the progress.

因此，我們今年試圖實現一些里程碑，不一定是 AgPlenus，該集團還有其他協議，例如我們的目標。但里程碑還取決於研究活動。所以，是的，我們正在探索並期待看到進展。

In some cases, we hope and believe that we will be able to achieve them. Some, there is always a challenge with respect to R&D activities might take a little bit longer, but we are excited to see the current progress in all fronts with respect to our activities in our subsidiaries.

在某些情況下，我們希望並相信我們能夠實現這些目標。有些，研發活動總是存在挑戰，可能需要更長的時間，但我們很高興看到我們子公司的活動在所有方面目前的進展。

Okay. Fair enough. And then I apologize if I missed this earlier on the 400 tons of castor seeds. Is that sufficient? I thought I caught the end of the response to one of the earlier question, is that enough to meet the current order and the beginning of supply for 2025? Or can you clarify on what that 400 tons of production capacity gives you?

好的。很公平。如果我之前錯過了 400 噸蓖麻籽的消息，我深表歉意。這樣就夠了嗎？我想我已經了解了對先前問題的回答的結尾，這是否足以滿足當前訂單和 2025 年開始供應？或者您能具體說明一下400噸的產能為您帶來了什麼嗎？

Okay. So our target is that in order to support the demand from the purchase order received in 2023, it's coming from three avenue. The first one is from production took place last year, and now we are harvesting the field packaging the seed and shipping them to our partners.

好的。因此，我們的目標是，為了支持 2023 年收到的採購訂單的需求，它來自三個管道。第一個是去年生產的，現在我們正在田間收割，包裝種子並將其運送給我們的合作夥伴。

Additional revenue is from the seed production agreement that we announced this quarter. And there is additional ongoing discussion that we are now planning to close the agreement not just to supply the existing demand, but also to start to build in inventory for 2025. So it's a respond earlier.

額外收入來自我們本季宣布的種子生產協議。目前正在進行的其他討論是，我們現在計劃完成協議，不僅是為了滿足現有需求，而且是為了開始為 2025 年建立庫存。所以這是一個較早的回應。

According to our plan, we believe and expect that to be able to deliver not just the quantity we obligate last year, but we are also planning to build in inventory for what do you think for the future purchase order for 2025.

根據我們的計劃，我們相信並期望不僅能夠交付我們去年規定的數量，而且我們還計劃為您認為 2025 年未來的採購訂單建立庫存。

Okay. That's helpful. Thank you for reiterating that. I'll leave it there.

好的。這很有幫助。感謝您重申這一點。我會把它留在那裡。

Thanks for taking the questions gentlemen, and congrats on all the validation you've seen from third parties here recently.

感謝先生們提出問題，並祝賀您最近從第三方看到的所有驗證。

Thank you.

謝謝。

Brett Reiss, Janney Montgomery Scott.

布雷特·賴斯，珍妮·蒙哥馬利·斯科特。

Hi, Ofer.

嗨，奧弗。

Hi.

你好。

First question, based on the crop rotation cycle, when will we definitively know that's the new group of Brazilian and Kenyan farmers have been able to successfully grow and deliver the seeds so we can consummate that sales?

第一個問題，根據作物輪作週期，我們什麼時候才能明確知道巴西和肯亞農民的新群體已經能夠成功種植和交付種子，以便我們能夠完成銷售？

So first, one of the reasons that we are growing in different a region is to be able to capture more than one, season to grow a caster. In addition, in all the area that we are now engaged their irrigation system in order to address the issue of the water for the castor. I think that's -- we are planning to probably we will have better understanding during the second quarter or close to the end of the second quarter.

首先，我們在不同地區種植的原因之一是能夠捕捉多個季節來種植腳輪。此外，我們現在在所有地區都啟用了灌溉系統，以解決蓖麻的用水問題。我認為，我們計劃在第二季或接近第二季末時可能會有更好的理解。

With respect to this question, any event we are -- our plan, we are going to engage with much more than what we need for this year to a supply. So as I said, part from it, it will be for the inventory for next year. But I think that during the second half -- the second quarter this year, we'll have a better clarity. But at least from what we are doing now, I think that we be able to achieve this target.

關於這個問題，我們的計劃中的任何活動，我們都會參與比今年供應所需的更多的事情。正如我所說，其中一部分將用於明年的庫存。但我認為，在下半年——今年第二季度，我們將會更加清晰。但至少從我們現在所做的事情來看，我認為我們能夠實現這個目標。

Okay. Thank you for that. Somebody -- one of the prior callers asked about the 400 tons of production. I'm going to ask it a different way. If you're able to generate 400 tons of production, what capacity of dollar revenues would -- can results, if you're able to successfully come in with 400 tons of production?

好的。謝謝你。有人——之前的一位來電者詢問了 400 噸的產量。我要以不同的方式問它。如果你能夠生產 400 噸的產量，如果你能夠成功地生產 400 噸的產量，那麼美元收入的能力會是多少？

I can disclose this information because then our competitors will know what is the price that we are taking our product. So I prefer to keep this commercial information confidential, and it is we were hesitating what information we can disclose. I think it was important for us to send the message that we are taking care on this the production issue. So this is why we came with this press release. We prefer not to share more information because it's not for the benefit of the company.

我可以披露這些信息，因為這樣我們的競爭對手就會知道我們的產品價格是多少。所以我更願意對這些商業資訊保密，而我們正在猶豫我們可以透露哪些資訊。我認為對我們來說，傳達這樣的訊息很重要：我們正在處理這個生產問題。這就是我們發布此新聞稿的原因。我們不願意分享更多信息，因為這不利於公司的利益。

Okay. And last one, since so much depends on your selecting the right farmers in Brazil and Kenya and monitoring them. Have you marinated yourself and your team -- have they marinated themselves. And Brazilian and Kenyan business culture, so that we're sure we're selecting the right farmers and they keep deliver what they're currently contracted to do?

好的。最後一點，因為這很大程度上取決於您在巴西和肯亞選擇合適的農民並對他們進行監控。你自己和你的團隊醃製了嗎——他們自己醃製了嗎？還有巴西和肯亞的商業文化，這樣我們就可以確定我們選擇了合適的農民，並且他們繼續履行目前合約規定的任務？

This is a very good question, and we are trying to tackle this challenge in different ways. The first one is that we aren't -- if in the past, we work only with two seed producer. Currently, we are working with more than five and the numbers will continue to grow and it's in different regions.

這是一個非常好的問題，我們正在嘗試以不同的方式來應對這項挑戰。第一個是我們不是——如果在過去，我們只與兩個種子生產商合作。目前，我們正在與超過五個合作，而且這個數字將繼續增長，並且分佈在不同的地區。

In addition, we expense significantly the number of Casterra employee. All of them are agronomists that have experience in growing caster and a significant portion of that from the time they are in escort, our seed grower in Africa and in Brazil. As an example, Yoash is currently in the call but is located now in Kenya, where he is conducting set of meetings with our existing steel producer and additional producers that we are planning to engage with them for a growing for us additional castor seeds.

此外，我們也大量支出了 Casterra 員工的數量。他們都是農藝師，擁有種植腳輪的經驗，其中很大一部分是從他們護送我們在非洲和巴西的種子種植者那裡獲得的。例如，Yoash 目前正在通話中，但現在身在肯亞，他正在肯亞與我們現有的鋼鐵生產商和其他生產商舉行一系列會議，我們計劃與他們合作，為我們種植更多的蓖麻種子。

And we have one Brazilian employee that is located in Brazil and we are planning to open a subsidiary in Kenya that there will be local people that will walk a focused era and it will be on the ground through the years all the time.

我們在巴西有一名巴西員工，我們計劃在肯亞開設一家子公司，當地的員工將走在一個專注的時代，並且多年來一直在當地工作。

So in addition, I think that today when we are choosing a seed producer, we are visiting his farm, we are checking the facility, he have and we are doing a lot of work before we engage with them. But maybe the most important thing is that we are not choosing one seed producers and give him, all day and built all of our expectation on him like maybe we did in the past. Today, we are prepared to work with many seed producers in order to make sure that even if one of them want a cheap hit target, still, we will get the overall performance will cover our expectations.

此外，我認為今天當我們選擇種子生產商時，我們正在參觀他的農場，我們正在檢查設施，他和我們在與他們合作之前正在做很多工作。但也許最重要的是，我們不會像過去那樣選擇一個種子生產者並給他一整天的時間，並將我們所有的期望都建立在他身上。今天，我們準備與許多種子生產商合作，以確保即使他們之一想要一個便宜的目標，我們仍然會得到整體表現將達到我們的預期。

Great. Thank you for taking my questions.

偉大的。感謝您回答我的問題。

There are no further questions at this time. Before I ask Mr. Ofer Haviv to go ahead with his closing statement, I would like to remind participants that replay of this call is scheduled to begin two hours after the conference. In the US, please call 1-888-326-9310. In Israel, please call 03-9255-901. Internationally, please call 9723-9255-901. Mr. Haviv, would you like to make your concluding statement?

目前沒有其他問題。在我請奧弗·哈維夫先生繼續其閉幕詞之前，我想提醒與會者，本次電話會議的重播計劃於會議結束後兩小時開始。在美國，請致電 1-888-326-9310。在以色列，請致電 03-9255-901。國際請致電 9723-9255-901。哈維夫先生，您願意做總結發言嗎？

Yes. Thank you once again for your ongoing support. Together, we will continue to drive our company forward and create long-term value for all stakeholders. Thank you and goodbye.

是的。再次感謝您一直以來的支持。我們將共同繼續推動公司向前發展，為所有利害關係人創造長期價值。謝謝，再見。

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

謝謝。Evogene 第四季及 2023 年全年業績電話會議至此結束。感謝您的參與。您可以繼續並斷開連線。