New Investors Seek Board Overhaul in Biomed Firm Evogene Amid Sharp Share Decline
Two new significant shareholders in Israeli computational biomed company Evogene are pushing for a hostile takeover by demanding the replacement of most of the board. L.I.A Pure Capital, led by Kfir Zilberman, and Invest-Pro, headed by Ron Yair Feld, recently acquired stakes of 12.6% and 4.1% respectively, combining for 16.7% ownership. They sent a letter to Evogene's board criticizing its failure to translate strategy into shareholder value and requested a shareholders meeting within 21 days to vote on replacing five of the six board members.
The investors argue that the current board has not delivered the expected value, citing repeated shareholder dilution without operational progress and questioning the company's capital allocation and long-term value creation. They propose removing Chairman Nir Nimrodi, Dan Falk, Sarit Piron, Dr. Adrian Persi, and Leon Rekanati, while retaining CEO and director Ofer Haviv, whom they trust and believe understands the company well. They suggest appointing four new directors: Itay Maroz, Shahar Tzadok, Oz Adler, and Dr. Adi Zoloff Shani.
Evogene, which develops AI and computational biology platforms for agriculture, pharmaceuticals, chemistry, and microbiome sectors, operates through subsidiaries and partnerships rather than solely in-house product development. Despite a peak valuation of over $700 million (about 2.5 billion shekels) in the mid-2010s biotech boom, the company has struggled to generate significant revenue or profitability. Its shares have plummeted 96% over the past three years and currently trade at a market cap of just 23 million shekels.
Financially, Evogene reported a net loss of 19 million shekels in Q1 2026, worsening from an 11 million shekel loss in the same quarter last year. For 2025, the company posted a 25 million shekel loss, an improvement from a 65 million shekel loss in 2024. The new investors’ move signals a critical juncture as they seek to refresh leadership and potentially redirect the company’s strategy to restore shareholder value.
