Evogene to receive $3.5M payment from Bayer

Evogene (EVGN) announced that Bayer (BAYRY) will pay Evogene an amount of $3.5M under their joint seed traits collaboration agreement. Under the collaboration agreement, Evogene provided Bayer with a license to genes discovered to address specific seed traits, for use in corn, soy, cotton, and canola. This one-time payment is part of a restructuring of the patent filing, prosecution, and maintenance obligations under the collaboration.