Evogene Shares Surge On Completion Of Generative AI Foundation Model Developed With Google Cloud

(RTTNews) - Shares of Evogene Ltd. (EVGN) are surging nearly 133 percent after the Israeli computational biology company announced the completion of its generative AI foundation model developed in collaboration with Google Cloud, affiliated to tech major Alphabet Inc. (GOOG, GOOGL).

The new model, version 1.0, for small molecule design, expands the existing capabilities of ChemPass AI, Evogene's tech-engine for small molecule discovery and optimization.

Evogene also announced that development is already underway on version 2.0 of its generative AI foundation model, with a focus on enhanced flexibility for multi-parameter optimization.

The new generative AI foundation is built on a large dataset of approximately 38 billion molecular structures, and it is trained and deployed using Google Cloud's advanced AI infrastructure, including high-performance GPUs and scalable storage.

The new model addresses the challenge of identifying novel small molecules that meet multiple product criteria, an essential requirement for pharma and agriculture applications.

Generative AI models, in contrast to traditional discovery methods, support companies in their small molecule discovery process by enabling the simultaneous consideration of multiple complex product requirements, all while creating novel molecular structures. The approach also facilitates the development of strong, defensible IP portfolios.

The company noted that its first-in-class proprietary foundation model, developed in-house by its algorithm teams, marks a dramatic advance over traditional generative AI.

As per the internal computational analysis, the new model delivers around 90 percent precision in successful and precise, novel molecule designs, compared to around 29 percent in traditional GPT AI-model.

Ofer Haviv, President and CEO of Evogene, stated, "Completing our foundation model is a major milestone in our offering. It unlocks new frontiers for ChemPass AI, giving us the power to generate wholly novel molecules—ones that not only perform but also create new IP space. This is key to overcoming long-standing challenges in life-science R&D: from reducing late-stage failure in pharma to developing ag-chemicals that are effective, sustainable, and proprietary."

On the Nasdaq, Evogene shares were trading at $2.63, up 132.74 percent.