Evogene's stock price rises as the company expands its partnership with Google Cloud

Investing.com – After the biotech company Evogene Ltd. (NASDAQ: EVGN) announced an expansion of its partnership with Google Cloud to integrate advanced AI agents into its ChemPass AI platform, the company’s stock rose 4% on Tuesday.

This expanded collaboration will focus on utilizing Google Cloud’s Vertex AI platform to develop AI agents that enhance Evogene’s capabilities in small molecule discovery and optimization for pharmaceuticals and agricultural products. This marks the second significant milestone in the companies’ relationship since their initial collaboration was announced in October 2024.

Integrating AI agents into Evogene’s proprietary ChemPass AI platform aims to automate and scale key discovery processes, enabling large-scale parallel molecule exploration while shortening the design-build-test-analyze cycle. These enhancements are expected to improve the accuracy and success rate of designing small molecule-based products.

Evogene President and CEO Ofer Haviv stated, “Integrating AI agents into ChemPass AI is expected to improve our speed, cost structure, and ability to run multiple discovery projects in parallel. We are also excited about the potential to make some of our practical innovation tools accessible worldwide through the Google Cloud Marketplace. For us, this partnership marks a shift from AI models to autonomous discovery, with ChemPass AI entering a new stage of scale and execution.”

The initial phase of the collaboration focuses on building foundational generative AI models, which have now become a core component of the Evogene platform, thanks to their recent partnership.

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