Evogene is an Israeli computational biology company that uses its proprietary AI engine, ChemPass AI, to design and optimize novel small molecules for drug discovery and agricultural chemicals. The core premise is that traditional small molecule discovery explores a narrow slice of chemical space and optimizes one parameter at a time, producing low success rates. ChemPass AI is designed to generate novel molecules from a training library of approximately 38 billion compounds while simultaneously optimizing across multiple criteria — potency, novelty, selectivity, safety, and synthesizability. Evogene's business model is technology licensing and collaboration: partners engage ChemPass AI to identify and optimize candidates for their specific targets, while Evogene earns upfront fees, R&D payments, milestones, and royalties. The partner bears downstream development costs, making the model capital-efficient for Evogene, though commercialization revenue remains uncertain and years away. Evogene operates through two strategic verticals: pharmaceuticals, which targets biotech and academic partners and has four early-stage collaborations announced, and agriculture, through its AgPlenus subsidiary, which has active paid collaborations with Bayer and Corteva for novel herbicides. Evogene also owns Casterra, a castor bean seed business selling proprietary seeds to growers in Africa and Brazil. Evogene carries meaningful financial risk, with recurring operating losses and limited cash runway, and has wound down several subsidiaries in recent years as part of a strategic refocus on ChemPass AI.