Infertility is “the inability to conceive after 12 months.” This means that a couple is not able to become pregnant after a year of trying. However, for women aged 35 and older, the inability to conceive after 6 months is generally considered infertility. According to fertilitycenter.com, the ability to achieve a successful pregnancy declines with age:
- Fertility declines in men after age 50.
- Fertility declines in women after age 30.
- Before age 25, 4% of women have difficulty achieving a successful pregnancy.
- For women between 26 to 34 years, 13% have difficulty having a baby.
- For women between 35 to 39 years, 25% have difficulty conceiving.
- By age 40, 34% of women attempting pregnancy will have difficulty achieving pregnancy.
- About 10 percent of women (6.1 million) in the United States ages 15-44 have difficulty getting pregnant or staying pregnant, according to the Centers for Disease Control and Prevention (CDC).
According to Allied Market Research, the Global Fertility Services Market was valued at $16.8 billion in 2016 and is estimated to reach $30 billion by 2023, registering a CAGR of 9.3% from 2017 to 2023. Fertility services involve different procedures utilized to treat genetic and fertility issues and assist with conception. These services include different assisted reproductive technology (ART) methods, helping couples or single parents around the world.
For millions struggling with infertility, access to treatment is often not possible. Financial challenges, limited availability of specialized medical care, and social or cultural roadblocks can prevent these hopeful parents from realizing their dream to have a baby. The INVO Procedure provides a solution that gives patients access to a safe, effective and affordable fertility treatment.
The INVO Procedure can be performed in a physician’s office or in a satellite facility of an IVF center and is more affordable than traditional IVF. In clinical studies, the INVO Procedure produced pregnancy rates equivalent to traditional IVF treatments.
Steven Shum, – CEO INVO Bioscience (IVOB)
Today, INVO Bioscience, Inc. (IVOB), a medical device company focused on creating alternative treatments for patients diagnosed with infertility & developers of INVOcell®, the first FDA-cleared Intravaginal Culture System, announced the appointment of Steven Shum as the Company’s Chief Executive Officer, effective immediately. Shum succeeds Kathleen Karloff, who is planning to retire after 12+ years with the Company as its CEO. Karloff will remain in an operational role over the near term, will continue to advise, lend guidance and support to the Company, and will remain Chair of the Board of Directors.
“It has been an honor to serve as the CEO of INVO Bioscience for the last 12 years,” Karloff said. “The technology the Company has developed is revolutionizing the fertility industry by expanding access to treatment with a more natural, effective and cost-efficient solution. Over the last 3 and half years, we have attained regulatory approvals in the U.S. and key international markets, and signed a significant distribution agreement in the U.S. with one of the leaders in the marketplace, Ferring Pharmaceuticals. We believe INVO Bioscience is well-positioned to advance to the next stage of its growth under the leadership of Steve Shum. In my opinion, Steve has the passion and experience to advance a number of the key objectives we have set forth to become a leader in the industry and a more visible public company.”
Mr. Shum has served as a member of the INVO Bioscience board of directors since October 2017. Most recently, Mr. Shum was interim Chief Executive Officer and Chief Financial Officer of Eastside Distilling, a Nasdaq-listed company. Mr. Shum will remain as CFO of Eastside Distilling until the filing of their quarterly report on Form 10-Q for the period ending September 30, 2019, which filing is expected on or about November 14, 2019. Mr. Shum’s duties as CFO of Eastside will be to assist the transition of financial reporting.
“I am extremely pleased to be named Chief Executive Officer of INVO Bioscience. I believe the Company is extremely well-positioned to expand the utilization of our proprietary INVOcell technology throughout the world through strategic partnership agreements in key international markets similar to our U.S. agreement. Further, I believe there is an opportunity to expand upon our success with INVOcell through adjacent technologies that can leverage our position in the market as a leader in fertility and women’s health. I thank Katie for creating a tremendous foundation from which to build upon and am excited to lead the Company into the future. I also appreciate her willingness to remain actively involved until her planned retirement”, stated Steve Shum.
INVO Biosciences solution, the INVO® Procedure, is a revolutionary in vivo method of vaginal incubation that offers patients a more natural and intimate experience. Their lead product, the INVOcell®, is a patented medical device used in infertility treatment and is considered an Assisted Reproductive Technology (ART). The INVOcell is the first Intravaginal Culture (IVC) system in the world used for the natural in vivo incubation of eggs and sperm during fertilization and early embryo development, as an alternative to traditional In Vitro Fertilization (IVF) and Intrauterine Insemination (IUI). Their mission is to increase access to care and expand fertility treatment across the globe with a goal to lower the cost of care and increase the availability of care. For more information, please visit http://invobioscience.com/.
To learn more about INVO Bioscience (IVOB) and to track its progress daily, please the INVO Bioscience Dedicated Company Page by clicking here.
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