Evogene Completes Second Closing of Initial Private Placement.Business Editors/High-Tech Writers REHOVOT, Israel--(BUSINESS WIRE)--Feb. 24, 2004 Evogene Ltd. announced today that it has completed a second closing of its initial private placement in the amount of $1.5 million bringing the total for the first round to $3.5 million. The first closing took place in March 2003. The second closing was restricted to the group of United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. , European and Israeli investors that participated in the first closing. Evogene is an emerging company focusing on the improvement of crops and the production of plant derived products. The company is unique in merging state-of-the-art predictive computational biology Not to be confused with Biologically-inspired computing. Computational biology is an interdisciplinary field that applies the techniques of computer science, applied mathematics, and statistics to address problems inspired by biology. and molecular biology molecular biology, scientific study of the molecular basis of life processes, including cellular respiration, excretion, and reproduction. The term molecular biology was coined in 1938 by Warren Weaver, then director of the natural sciences program at the Rockefeller with the most advanced classical breeding technologies. Its computational biology activities include a license to use Compugen's (Nasdaq:CGEN CGEN Convective Sigmet Generation ) LEADS computational biology research engine in the field of agro-biotechnology. Hagai Karchi, Ph.D., chief executive officer of Evogene Ltd, said, "We are extremely pleased with our progress to date and this additional funding will allow us to accelerate our activities related to potential agreements with agro-biotechnology partners as well as the development of our main internal projects: key trait improvements in cotton, gene and promoter discovery in monocots (rice, maize maize: see corn. and cereals) and a proprietary platform for the production of therapeutic proteins in plants." Ofer Haviv, CPA (Computer Press Association, Landing, NJ) An earlier membership organization founded in 1983 that promoted excellence in computer journalism. Its annual awards honored outstanding examples in print, broadcast and electronic media. The CPA disbanded in 2000. , chief operating officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. of Evogene, added, "We are very pleased with this additional vote of confidence from our investors, almost all of whom participated in this second closing." About Evogene Evogene Ltd. is a pioneer in integrating predictive computational biology and plant genomics with classical breeding to generate improved crops and new agricultural biotechnology products. This objective is accomplished through the development of high-throughput, economically efficient platforms that accelerate, direct and mimic the natural evolution process. Evogene's activities were initiated in 1999 as a division of Compugen (Nasdaq:CGEN); in 2002 Evogene was created as a separate company founded by Compugen and Drs. Hagai Karchi and Rafi Meissner. For additional information, please visit Evogene's Website at www.evogene.com. |
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