NEW YORK (GenomeWeb News) – Compugen has sold nearly half of its stake in Evogene, pocketing around $3.6 million from the share sale, the Tel Aviv, Israel-based firm said today.

Compugen said that it sold one million shares in a private transaction to a single, unidentified purchaser. It said that proceeds from the sale would be used to fund general corporate purposes through mid-2010.

Following the sale, Compugen holds 1,150,000 shares of Evogene, which uses Compugen's in silico predictive discovery capabilities for agricultural applications.