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“Zeraim Gedera” Invests $150,000 in Biotechnology Company Evogene
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| June 14, 2005 |
The number of shares Zeraim Gedera will receive in lieu of its investment will be determined after Evogene’s next round of capital raising. The two companies have already signed an agreement for the development of non-transgenic tomato varieties with tolerance for high-sodium growing conditions. According to the agreement, Evogene technology, which enables very significant acceleration of the breeding process, will be applied to genetic material supplied by Zeraim Gedera.
Ohad Zuckerman, CEO at Zeraim Gedera said that the investment constitutes one aspect of Zeraim Gedera’s overall policy to maintain the ability to enter the field of biotechnology indirectly, while continuing solely ‘green’ activities within Zeraim Gedera.
Ofer Haviv, CEO at Evogene said that the investment confirms that the Company’s business model is on the right track as constructed to transform the Company into the leading supplier of improved variety traits to the world’s leading seed companies.
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