Sign In

Search Press
Looking for press releases of a particular company? Enter company name (or keyword) here.


Evogene, a Subsidiary of Compugen, Raising U.S. $2.0 Million in Private Financing

Tel Aviv, Israel – January 6, 2003 – Compugen Ltd. (NASDAQ: CGEN) announced today that Evogene Ltd., its agricultural biotechnology subsidiary, is in the final stages of closing a $2.0 million private placement with a group of Israeli, European and United States investors.

Evogene is an emerging company focused on the development of 'tailor-made' plants and plant 'biofactories' for the improvement of crops and plant derived products. The company is unique in merging state-of-the-art molecular biology and computational technologies with the most advanced classical breeding technologies.

Compugen’s agricultural biotechnology activity was initiated in 1999 as a division of Compugen with the expectation that it would be spun off as a separate company in order to allow Compugen to maintain its focus on human therapeutics and diagnostics. In January 2002, this was accomplished through the co-founding of Evogene as a majority-owned subsidiary of Compugen together with Dr. Hagai Karchi and Dr. Rafi Meissner.

Mor Amitai, Ph.D., president and chief executive officer of Compugen, said, “We have been very pleased by the progress of Evogene and are delighted that the company has been successful in raising additional funding. Under the initial agreement between the two companies, we agreed to provide financing for Evogene’s expected expenditures during 2002, and granted Evogene a license to utilize our LEADS computational biology platform and other technologies in the field of agricultural biotechnology. We are pleased to see that Evogene was able to translate our initial investment into an attractive venture opportunity.”

Ofer Haviv, chief operating officer of Evogene, stated, “Our first private placement is clearly an important financial milestone in our development into a leading agricultural biotechnology company, and is also a vote of confidence, by our new investors, in our ability to address the growing needs of the plant biotechnology market. Having reached this milestone, we would like to thank Compugen for its past and continuing support as Evogene moves forward to the next stages of its development.”

About Evogene
Evogene Ltd. is a pioneer in overcoming the limitations of both classical breeding and modern biotechnology in order to generate improved crops and new agricultural biotechnology products in an economically efficient manner. This objective is accomplished by integrating computational biology and plant genomics with classical breeding to create high-throughput platforms that generate improved plants and plant derived products by accelerating, directing and mimicking the natural evolution process. For additional information, please visit Evogene’s Website at

About Compugen
Compugen (NASDAQ: CGEN) is a pioneer in the merging of computational technologies with biology, chemistry and medicine to enhance drug discovery and development. This unique capability is a proven basis for providing high value products and services to leading biotechnology and pharmaceutical companies and for in-house discovery. For additional information, please visit Compugen's corporate Website at

Publisher Contact Information:

00 972 8 931 1904

Company profile of Evogene
Past press releases of Evogene.


Tech investments
From our Online Data Service
VC-backed companies
From our Radar

Recent Deals

Nov 25€24.0MInternet commerce
Nov 8N/AOther Computers & Electronics
Nov 5€2.1MAudio/Video
Nov 5€5.2MOther Computers & Electronics
Nov 5€0.4MInternet services
Nov 5€1.3MSecurity
Nov 5€1.5MAudio/Video

For information on Europe's most extensive database on technology funding click here!


Press Releases

Sep 30
tetavi raises $6 million to help more companies bring 3d holograms ...

May 28
identiq raises $5m seed, launches privacy-first identity validation...

Apr 29
nethone raised over $1 million from innovation nest

Mar 31
the fit allocates chf 100'000 to comppair technologies

Jan 29
yumpingo raises $10m to transform guest experiences in restaurants

About usContact usLegal Information
Copyright © 1999-2019
Emerging Technology Research Europe Inc. All rights reserved.