Plastomics, Inc., an agricultural biotech company, developing a step change in trait delivery technology, and Evogene Ltd.'s, (NASDAQ:EVGN) (TASE: EVGN), Ag-Seed division, focusing on discovery and development of seed traits, announced today a collaboration agreement targeting novel insect control traits for soybean.
As part of the collaboration, Plastomics, utilizing its disruptive new technology, will introduce Evogene's insect control genes demonstrating new modes of action (MoAs) into soybeans. These genes, which were discovered using Evogene's GeneRator AI engine, have demonstrated insecticidal activity in different assays to controlling insect colonies that are resistant and susceptible to current commercial insect solutions. a significant challenge to soybean growers.
The global market for biotech seeds is projected to reach a size of US$45 Billion by 2027, where biotech soybeans accounting for about 48% of the current market, is predicted to grow at an annual rate of 6.7% through 2027,2. New MoA insect control products have the potential to deliver significant value to soybean growers by addressing the increasing resistance of insects to current insect solutions, all of which are essentially based on the same MoAs introduced decades ago. The combination of the Plastomics' platform together with Evogene's new MoA insect control genes, has the future potential for controlling insect species in soybean and other row crops.
Plastomics is a development stage company with novel technology to introduce traits into plants in a manner that overcomes deficits of traditional biotech trait introduction. Instead of relying on nuclear transformation, which is the basis for all current biotech crops on the market, Plastomics utilizes novel chloroplast transformation technology. Taking advantage of the crop's solar engine – the chloroplast – aims to solve challenges inherent in traditional gene transfer to bring a new generation of trait benefits across the value chain, including consumers, growers and seed producers.