- COFEPRIS or the Federal Committee for Protection from Sanitary Risks (Comisión Federal para la Protección contra Riesgos Sanitarios) is the department within the Mexican Secretariat of Health that deals with the importation of medical devices and issues advertising permits for these products.
- Currently it is believed that there is an underserved global market for infertility with approximately +95% of infertile couples that are going untreated.
- The size of the global fertility market is predicted to hit around US$ 47.9 billion by 2030 with a CAGR of 4.7%, according to a report study by Precedence Research.
- INVO Bioscience’s INVOcell seems to be in a key position to address key industry challenges with regard to cost & capacity constraints of traditional in vitro- fertilization (IVF).
Yesterday, INVO Bioscience, Inc. (NASDAQ: INVO), a medical device company focused on commercializing the world’s only in vivo Intravaginal Culture System (IVC), INVOcell®, an effective and affordable treatment for patients diagnosed with infertility, announced the Company has received approval by COFEPRIS to import INVOcell into Mexico. In late 2020, INVO Bioscience established a joint venture focused on establishing fertility centers dedicated to offering INVOcell, with the initial center, called Positib Fertility, to be located in the city of Monterrey, Mexico.
Francisco Arredondo, MD., MPH, INVO Bioscience’s JV partner in Mexico, and an early adopter of the INVOcell solution, commented, “As the first infertility clinic physician to open a dedicated INVOcell center in 2017 in McAllen, Texas, a boarder city between the U.S. and Mexico, I discovered first hand the positive impact that the INVOcell solution can provide to families struggling with fertility. The ability to bring this affordable and effective technology to the citizens of Mexico is extremely gratifying on a personal level and brings us closer to the goal of democratizing the fertility industry.” Dr. Arredondo was an early adopter of the INVOcell solution as he began offering IVC via the INVOcell to his patients at fertility clinics in San Antonio and Austin in 2016. In 2017, due to the success in expanding the accessibility of infertility treatment to patients utilizing INVOcell, he decided to open a center where he would exclusively offer the INVOcell solution in McAllen, Texas. Dr. Arredondo successfully sold his U.S.-based fertility clinics in 2019 and is now focused on bringing the INVOcell solution to Mexico.
Ramiro Ramirez, MD, of Positib Fertility, S.A. de C.V., added, “We have finalized our site selection in Monterrey, Mexico, and with the importation approval now complete, we look forward to launching Positib Fertility as quickly as possible.”
Wall Street Is Finding INVO Bioscience (NASDAQ: INVO)
Two analysts initiated coverage on INVO Bioscience with BUY Recommendations and Price Targets ($5-$5.75) significantly higher than today’s quotes prices in the $3 range during December, 2020.
Colliers Securities LLC’s analyst Kyle Bauser, Ph.D. initiated his coverage on INVO Bioscience on December 15, 2020 with a Buy and a Price Target of $5. His report was titled “INVO Bioscience’s INVOcell seems to be in a key position to address key industry challenges with regard to cost & capacity constraints of traditional in vitro- fertilization (IVF)”
Roth Capital Partners’ analyst Scott R. Henry, CFA initiated his coverage on December 28, 2020 with Buy and a price target of $5.75. His report was titled: “INVO: Emerging Fertility Treatment that Could Hatch Profits Near-Term”