Lavie Bio Ltd. announced the commercial launch of its first product, LAV.211, an inoculant for yield improvement, under the brand name result.
The first phase of marketing and initial market penetration for the upcoming 2022 spring wheat season will be limited to target regions in North Dakota, and will be accomplished under a distribution agreement with United Agronomy, as recently announced. These initial sales are expected to be recognized in 2022. The development of result included positive four-year field trials in multiple locations and commercial validation through broad-acre fields under standard farmer practices in target locations (‘early adopter network’).
The results achieved in the field trials have demonstrated that result has the potential to contribute an additional 3-4 bushels per acre and showed increased yield improvement compared with industry benchmarks. According to Lavie Bio’s estimates and assuming average commodity prices, this could provide spring wheat farmers an average of $20 of additional revenue per farmed acre, which may translate to a 50% increase or more in profit. There are an estimated 25 million acres of spring wheat in North America[3], with about 6 million in North Dakota.
Following this initial commercial introduction, Lavie Bio intends to expand through additional distribution channels and to evaluate the opportunities for result in additional territories for spring wheat, and for application to additional cereals. In parallel, the company expects to increase its production capabilities to support such expansion.
Ido Dor, CEO, Lavie Bio, stated: “I am very proud that Lavie Bio has reached this milestone and is launching its first product. Our extended trials have indicated that result is an excellent product providing strong value to farmers by significantly improving yield and productivity. Furthermore, result‘s rapid development process – six years from concept to initial marketing – and the progress being achieved by other microbiome products in our pipeline, is possible only through the use of Lavie Bio’s BDD platform, powered by Evogene’s ‘MicroBoost AI’ engine, a very important competitive advantage for our Company.”
