Sarasota-based INVO Bioscience, Inc. (Nasdaq: INVO) (“INVO”) is an innovative medical device company developing solutions for the global infertility industry. INVO’s goal is to increase access to care and expand fertility treatment across the globe while seeking to lower the cost and increase the availability of care to a significantly underserved market. Currently and amazingly it is estimated that only 1-2% of the world’s ~152 million infertile couples are being treated.
INVO’s lead commercial product, the INVOcell (pictured below), is a patented Assisted Reproductive Technology (ART) used in the treatment of infertility. The INVOcell device and procedure is unique as 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), the revolutionary in vivo method of vaginal incubation offers patients a more natural and intimate experience. INVO Bioscience is headquartered in Sarasota, FL. For more information, please visit http://invobioscience.com/.
On Wednesday, INVO made a strategic move as they announced the formation of its Scientific Advisory Board (SAB) with the appointment of several prominent members of the fertility industry, including:
Tony Anderson, DHSc, ELD, multi-site laboratory director for Aspire Fertility as well as the founder of EmbryoDirector IVF Academy USA;
Amber Cooper, MD, MSCI, FACOG, a reproductive endocrinologist and medical director of Vios Fertility Institute St. Louis;
Karen R. Hammond, DNP, CRNP, IVF Program Director of the America Institute of Reproductive Medicine in Birmingham, Alabama; and
Francisco “Paco” Arredondo, MD, MPH, FACOG, recently Chief Medical Officer of the United States largest network of fertility centers, overseeing more than 50 fertility specialists, and currently a partner in a joint venture developing INVOcell clinics in Mexico.
Drs. Anderson, Cooper, Hammond and Arredondo, will bring real-world experience working with INVOcell, and expertise across the fertility industry in general, advising and guiding INVO Bioscience as the company expands commercialization in the U.S. and across the world.
Tony Anderson, DHSc, ELD is a multi-site laboratory director for Aspire Fertility as well as the founder of EmbryoDirector IVF Academy USA. Anderson started his career in the bovine laboratory in 1990 at Granada Biosciences and made it to the human laboratory in 1992 at IVF America in Livingston New Jersey. Dr. Anderson moved to North Carolinato work at Presbyterian Hospital under the direction of Dr. Klaus Wiemer in 1992. In 2009 Tony took on the challenge of a new start up in San Antonio at RMATX that has grown to 2 IVF centers and 2 satellite centers. Dr. Anderson has been an early adopter in blastocyst embryo transfer, cryopreservation and pioneered blastocyst biopsy with and without laser technology for genetic testing.
Dr. Anderson completed his undergraduate studies at Oklahoma State University in Animal Science and Masters in Clinical Embryology studies at Leeds University under the direction of Professors Alan Handyside and Helen Picton. These studies focused on cryopreservation and non-invasive methods of predicting euploidy in early embryos. Tony completed his doctoral studies at a Nova Southeastern University, a private university in South Florida. These doctoral studies focused on the comparison of cryopreservation methods of oocytes as well as pre-implantation genetic testing (PGT) of embryos for optimized outcomes.
Amber R. Cooper, MD, MSCI, FACOG is a reproductive endocrinologist and medical director of Vios Fertility Institute St. Louis. She is board certified in Obstetrics and Gynecology and Reproductive Endocrinology and Infertility and completed both her residency and fellowship at Washington University in St. Louis. She has helped thousands of patients with complex cases achieve successful outcomes, preserve fertility and fulfill the dream of parenthood.
During her years of practice, Dr. Cooper has received numerous awards for her outstanding surgical techniques, teaching excellence, clinical research and patient satisfaction, and has been named one of the Best Doctors in America by St. Louis Magazine for the last eight years running. She considers it her life’s work to educate, empower, and improve care for those with infertility.
Dr. Cooper has authored articles for several medical journals and textbooks, led clinical studies, and has had her research covered in the local and national press. Most recently, she coauthored a multicenter publication on INVOcell use in the US. She speaks nationally and internationally on how cancer and autoimmune disease therapies affect reproductive health and fertility, ovarian aging, primary ovarian insufficiency and genetics. While she is passionate for all facets of fertility health, she has a special interest in improving IVF success and outcomes, fertility preservation, ovarian dysfunction, ovarian reserve and aging, hysteroscopic surgery, genetics and the environmental impact on ovarian aging and function.
Karen R. Hammond, DNP, CRNP is a board-certified Nurse Practitioner, is IVF Program Director at AIRM. A native of Birmingham, she earned her three degrees from the UAB and has practiced in reproductive endocrinology since 1985.
A recognized leader in reproductive endocrinology and infertility, she has been lectured at countless local, state, national, and international nursing and medical meetings; has received numerous awards for clinical, research, and professional service; and has published extensively in clinical literature.
In 2018, Dr Hammond established a unique Affordable IVF℠ program that increases access to care for patients needing advanced fertility treatment that has drawn patients to her practice from across the country who have deemed her Fertility Fairy Godmother.
Francisco Arredondo MD, MPH, FACOG graduated summa cum laude from the Monterrey Institute of Technology and Higher Studies School of Medicine in Mexico. In 1991, the Mexican president honored him as “one of the best medical students in the country.” Two years before that, Dr. Arredondo found his passion in fertility while collaborating with Mexico’s first successful In Vitro Fertilization team. His determination to become a fertility specialist led him to do: research at the World Health Organization’s Reproductive Biology Center in Mexico City; an internship in Kahn Mount Sinai School of Medicine in New York City; an OBGYN residency at University of TexasHealth Science Center of San Antonio, Texas; a Fertility Fellowship at Hospital of the University of Pennsylvania; and a Master’s in Public Health at Harvard University where he focused on international health and business management. He practiced as an OBGYN in rural Kentucky and later became an Assistant Professor of Reproductive Biology at Case Western Reserve University in Cleveland, Ohio. Dr. Arredondo’s 40th birthday inspired him to combine his medical, entrepreneurial, and management skills to follow a new path as a “MedikalPreneur” — a term he coined — which led him back to San Antonio to open his own fertility center. Over 13 years, he and his three-member team grew a network of fertility centers and entrepreneurial ventures with more than 80 team members. In 2018 and 2019, some of his corporations underwent two mergers and made him the Chief Medical Officer of America’s largest network of fertility centers, overseeing more than 50 fertility specialists. After achieving his professional and financial goals, Dr. Arredondo sold his interest in many of his companies and embarked on a new venture: Social Entrepreneurship to democratize fertility services. A member of the medical advisory board for various American companies, he also advises national and international private equity firms that focus on health investments. Dr. Arredondo shares his success secrets so you can become a MedikalPreneur to transform your medical practice, achieve your greatest professional fulfillment, and maximize your financial potential
RECENT NASDAQ LISTING
Last Thursday, after the markets closed, INVO announced the pricing of an underwritten public offering of 3,625,000 shares of its common stock at a public offering price of $3.20 per share. The gross proceeds to INVO Bioscience from this offering are expected to be approximately $11.6 million, before deducting underwriting discounts and commissions and other estimated offering expenses. INVO Bioscience has granted the underwriters a 45-day option to purchase up to an additional 543,750 shares of common stock to cover over-allotments, if any. The offering is expected to close on November 17, 2020, subject to customary closing conditions. Shares of our common stock will begin trading on November 13, 2020 under the symbol “INVO” on the Nasdaq Capital Market. Roth Capital Partners acted as the sole book-running manager, with Colliers Securities LLC and Paulson Investment Company, LLC acting as co-managers for the offering. Shares closed at $3.39/share on Wednesday.
INDUSTRY SPOTLIGHT REPORT
Recently, the America Institute for Reproductive Medicine (AIRM), a boutique fertility practice established in Birmingham, Alabama, in 2017 by Dr. Cecil Long, former Medical Director of ART Fertility Program of Alabama published a report on their experience and success with implementing the INVO Bioscience’s INCOcell system in to their IVF practice since July 2018.
In 2019, they made the decision to almost exclusively perform INVOcell cycles, completing more than 350 within the first year and now over ~600 to date. They have discovered that the simplified INVOcell process reduces office visits by 50%, lab time by more than 65%, and medication by 75%. Please follow this link to learn more and read their complete report.
CONFERENCE CALL DETAILS
INVO Bioscience has scheduled a conference call for Thursday, November 19, 2020, at 4:30 pm ET (1:30 pm PT) to review their recent reported results and events. Interested parties can access the conference call by dialing (877) 270-2148 or (412) 902-6510 or can listen via a live Internet webcast at https://www.webcaster4.com/Webcast/Page/2162/38898, which is also available in the Investor Relations section of the Company’s website at https://www.invobioscience.com/investors/.
If you would like to submit a question to be addressed on the call, please email INVO@lythampartners.com.
A teleconference replay of the call will be available for seven days at (877) 344-7529 or (412) 317-0088, confirmation #10150131. A webcast replay will be available in the Investor Relations section of the Company’s website at https://www.invobioscience.com/investors/ for 30 days.