- INVO Bioscience, Inc.’s (NASDAQ: INVO) 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).
- INVOcell addresses key industry challenges regarding cost & capacity constraints: ability to help treat underserved patients as an alternative to traditional in vitro- fertilization (IVF).
- INVO’s mission is to increase access to care and expand fertility treatment across the globe’s vastly underserved global market (~+95% of infertile couples go untreated each year) with a goal to lower the cost of care and increase the availability of care.
After the close of the markets today, INVO Bioscience, Inc. (NASDAQ: INVO) (“INVO”) announced an amendment under its exclusive U.S. commercialization agreement with Ferring Pharmaceuticals. The amendment provides for an increase in the number of INVO company-owned US-based clinics initially allowable under the agreement and removes certain geographical restrictions. The amendment also adjusted the remaining annual 2020 minimum contractual product purchase requirement, whereby Ferring will place a $501,000 order, which will be recognized as revenue by INVO Bioscience in the first quarter of 2021.
Shares of INVO have traded up to $6.06 in the aftermarkets after closing $3.11 today and have traded over 4.3 million shares.
Steve Shum, CEO of INVO Bioscience, commented, “We are pleased to have successfully completed this amendment with our U.S. partner, Ferring. We believe it reflects the strength of our ongoing collaboration and shared commitment to expand the use of INVOcell in the U.S. We also believe our dedicated clinic approach is an important complementary channel to accelerate awareness and market adoption of INVOcell and in our opinion will allow us to capture additional per-procedure income. In our view, this strategy will increase industry capacity, affordability and facilitate greater access for patients. We expect to report on our initial U.S. activities in the near future.”
INVO Bioscience (NASDAQ: INVO)
INVO is a medical device company focused on creating simplified, lower-cost treatments for patients diagnosed with infertility. INVO’s 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.
Their 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).
INVO Bioscience (INVO) successfully conducted a public offering in November 2020, raising net proceeds of approximately $11.6 million at $3.20/share while uplisting the company onto the NASDAQ market. These moves strengthened their balance sheet & their position to execute on their commercialization efforts in the US and around the world. INVO has structured distribution agreements in eight countries located within Africa, Asia, Europe and the Middle East.
Upcoming milestones include opening new distributor & joint venture agreements, opening of 1-2 INVO-only clinics in Q1/2021 with existing partners in the US and abroad, & successfully receiving the nod from the FDA for 5-day labelling, which alone would allow INVO to achieve a milestone payment of $3 Million from their US partner Ferring Pharmaceuticals.
Learn more about INVO Bioscience (NASDAQ: INVO) at our VP Watchlist page.