Evogene to Develop Next Generation Medical Cannabis Products Through New Subsidiary, Canonic Ltd

Evogene Ltd. (NASDAQ:EVGN) (TASE: EVGN), a leading biotechnology company developing novel products for life science markets, announced today that it has established a new subsidiary – Canonic Ltd – to develop next generation medical cannabis products. Evogene has been evaluating the medical cannabis field for more than a year, including market evaluation, obtaining governmental approvals for its research program and the establishment of a research facility, technology assessment and initial product line planning. Canonic's initial activities will focus on creating improved cannabis varieties by addressing the current developmental roadblocks of yield, stability and specific metabolite composition. These development efforts will be based on the utilization of Evogene's broadly applicable leading Computational Predictive Biology (CPB) platform, which has in the past demonstrated success in addressing similar objectives for other crops.