Shares of INVO Bioscience (NASDAQ:INVO) surged more than 75% in pre-market trading on Tuesday, following an announcement late Monday night that it will expand commercialization of its infertility treatments through company-owned clinics. INVO stock looks set for its highest open since November.
INVO said yesterday that it had amended its U.S. commercialization agreement with Ferring Pharmaceuticals. The move will enable the company to increase the number of INVO-owned clinics allowed to provide its treatments.
Additionally, some geographical restrictions will be removed. The amendment altered the required minimum contractual purchase requirements for 2020, which will be met by Ferring by placing a $501,000 order.
INVO Seeks to Lower Costs for Patients
The medical device company created an in vivo method of incubation that offers patients a more intimate and natural fertilization treatment. It also seeks to lower the cost of care and increase the availability of care.
The company’s lead product, the INVOcell, is an assisted reproductive technology and is a patented medical device used in infertility treatment. This is the first IVC system in the world, for the natural in vivo induction of eggs and sperm, as an alternative to traditional in vitro fertilization and intrauterine insemination.
Steve Shum, CEO of INVO Bioscience, said the company’s “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.”
About one in 10 American couples struggle with infertility, or the inability to conceive despite having regular unprotected sex, according to Parents magazine.
On the date of publication, Robert Lakin did not have (either directly or indirectly) any positions in the securities mentioned in this article.
InvestorPlace contributor Robert Lakin is a veteran financial writer and editor, following fintech, agtech and property tech startups.
