Skip to main content
Premium Trial:

Request an Annual Quote

NRGene Completes $30.6M IPO

NEW YORK – NRGene said Tuesday that it has completed its initial public offering on the Tel Aviv Stock Exchange, raising approximately NIS 100 million ($30.6 million). The IPO values the Israeli company at NIS 370 million.

Herzog Fox & Neeman and PwC Israel advised the company on the IPO.

NRGene, based in Ness Ziona, Israel, develops artificial intelligence technologies to analyze agricultural and livestock genomic data. Products include DeNovoMax software for assembling reference-level genomes for use in breeding and agriculture.

"Going public is a significant milestone in the company's plan for growth," NRGene Chairman Asaf Levi said in a statement. He said that the firm would apply the new funding to support growth and form long-term collaborations with breeding companies.

"The company currently plans to expand its global activities and become an integral part of the optimization processes in agriculture and the food industry," added CEO and Cofounder Gil Ronen. "We estimate that in the near future NRGene will become a key player in this highly important and growing field."

Existing customers include Bayer and Syngenta, according to NRGene. The firm adopted a new business model last year that involves joint development of intellectual property in return for royalties from sales of associated products. 

The Scan

Panel Recommends Pfizer-BioNTech Vaccine for Kids

CNN reports that the US Food and Drug Administration advisory panel has voted in favor of authorizing the Pfizer-BioNTech SARS-CoV-2 vaccine for children between 5 and 11 years old.

Sharing How to Make It

Merck had granted a royalty-free license for its COVID-19 treatment to the Medicines Patent Pool, according to the New York Times.

Bring it Back In

Bloomberg reports that a genetic analysis has tied a cluster of melioidosis cases in the US to a now-recalled aromatherapy spray.

Nucleic Acids Research Papers on SomaMutDB, VThunter, SCovid Databases

In Nucleic Acids Research this week: database of somatic mutations in normal tissue, viral receptor-related expression signatures, and more.