Welcome to our dedicated page for INVO BioScience news (Ticker: INVO), a resource for investors and traders seeking the latest updates and insights on INVO BioScience stock.
INVO Bioscience, Inc. (Nasdaq: INVO) is a healthcare services company dedicated to expanding access to advanced reproductive technology. Specializing in fertility treatment, INVO focuses on making fertility care more accessible and inclusive. The company operates through dedicated fertility clinics called INVO Centers, and also acquires profitable in vitro fertilization (IVF) clinics in the United States. Their proprietary technology, the INVOcell® device, allows fertilization and early embryo development to occur within a woman's body, a groundbreaking method known as Intravaginal Culture (IVC).
INVO Bioscience's recent strategic initiatives have included the acquisition of US-based IVF clinics and the opening of three INVO Centers in North America. The company's commercial strategy is built around selling products directly to physicians, and via distributors to IVF centers and medical practices.
On October 23, 2023, INVO announced a definitive merger agreement with NAYA Biosciences Inc. The merger, an all-stock transaction, aims to form a combined entity named NAYA Biosciences, which will operate under a NASDAQ listing. The merged company will focus on fertility, oncology, and regenerative medicine, leveraging NAYA's capabilities in cell and gene therapy, and artificial intelligence.
The merger is expected to provide INVO with new capital to expand its fertility clinic network across the United States and advance NAYA's oncology therapeutics. This agreement is a major step forward, with NAYA's shareholders set to own approximately 88% of the combined company and INVO shareholders 12%, pending shareholder approval and other conditions.
Financially, INVO Bioscience has shown a strong performance with significant revenue growth. For the three months ended September 30, 2023, the company reported a revenue increase of 314% compared to the same period in 2022. The company's ongoing strategic focus aims at achieving profitability by 2024, fueled by growth from its INVO Centers and efficient management of operating expenses.
INVO Bioscience is committed to making advanced fertility treatments more affordable and accessible worldwide, offering a natural and less invasive alternative to traditional IVF methods with the INVOcell® device.
INVO Bioscience Inc. (NASDAQ: INVO) has expanded its agreement with Ovoclinic, a group of assisted reproductive clinics in Spain, to promote the adoption of its INVOcell technology. This includes establishing an INVO Center of Excellence for training and increasing INVOcell offerings to all patients at Ovoclinic locations. Since its commercialization in early 2021, INVOcell has shown success with patients aged 30-50. Ovoclinic will leverage its reputation and collaborate with its Ovobank partners across Europe to enhance the visibility and acceptance of INVOcell, addressing Spain's low fertility rates affecting 15% of couples.
INVO Bioscience (NASDAQ: INVO), a medical device company specializing in infertility treatments, will participate in the Lytham Partners Winter 2021 Investor Conference from December 13-16, 2021. A webcasted Fireside Chat is scheduled for 11:00am ET on December 13, discussing company insights and strategies. Virtual one-on-one meetings with management are available. The INVOcell®, their flagship product, is an innovative in vivo culture system aimed at providing accessible and affordable fertility solutions. For more details, visit their website.
INVO Bioscience, Inc. (NASDAQ: INVO) has received approval from FDA Thailand to import and commercialize its IVC system, INVOcell®, in Thailand. This follows an exclusive distribution agreement with IVF Envimed Company Ltd., which has a strong network in the fertility sector. Training for local physicians and embryologists has commenced, with plans for further 'in-person' training in early 2022. INVOcell offers a more natural and cost-effective approach compared to traditional IVF and IUI methods, aiming to improve access to fertility treatments in Thailand.
INVO Bioscience, a medical device company, announced its Q3 2021 financial results on November 15, 2021. Revenue was $218,874, a decrease from $336,071 in Q3 2020. Moreover, the company plans to regain full U.S. commercialization rights for INVOcell® in January 2022, following termination of its agreement with Ferring.
INVO opened its first U.S. INVO Center in Birmingham and another in Atlanta, alongside an international center in Monterrey, Mexico. Despite a net loss of $(2.2) million for the quarter, the company continues to expand its operational footprint and aims for growth through a multi-channel market strategy.
INVO Bioscience, Inc. (NASDAQ: INVO) will report its third quarter 2021 financial results on November 15, 2021, after market close. A conference call is scheduled for the same day at 4:30 pm ET to discuss these results. The company focuses on providing affordable infertility treatments through its innovative product, the INVOcell®, which is the first in vivo Culture System. This approach aims to lower costs and increase access to fertility treatments globally.
INVO Bioscience (NASDAQ: INVO) has regained full U.S. commercialization rights for its INVOcell® device following the termination of a distribution agreement by Ferring International Center, effective January 31, 2022. This strategic move allows INVO to operate without limitations on the number of dedicated 'INVO Centers' and directly support U.S. fertility clinicians. Recent milestones include openings of new centers in Birmingham and Atlanta and an international center in Monterrey, Mexico. INVO aims to enhance access to affordable fertility care and expand its market presence.
INVO Bioscience (NASDAQ: INVO) announced the presentation of four poster abstracts about its INVOcell technology at the 77th Scientific Congress & Expo of the American Society for Reproductive Medicine in Baltimore. CEO Steve Shum highlighted the recognition of their technology at this premier event, emphasizing its potential to democratize fertility services. The abstracts presented various comparative studies demonstrating the safety, effectiveness, and cost advantages of the INVOcell over traditional IVF methods for infertility treatment, aiming to improve access for underserved patients.
INVO Bioscience, Inc. (NASDAQ: INVO) has announced the grand opening of its first INVO Center, named 'Positib Fertility,' in Monterrey, Mexico, set for November 1, 2021. This center will provide advanced fertility care utilizing the INVOcell technology, aimed at making infertility treatment more accessible and affordable. The partnership involves experienced reproductive specialists Dr. Francisco Arredondo and Dr. Ramiro Ramirez. This development follows previous openings of INVO Centers in Birmingham and Atlanta, marking a significant step in enhancing fertility service availability in Mexico.
INVO Bioscience, Inc. (NASDAQ: INVO) has announced a registered direct offering to institutional and accredited investors, including management members, for 1,240,763 shares at $3.26 per share, totaling approximately $4.0 million in gross proceeds. The offering is expected to close around October 5, 2021, subject to customary conditions. The net proceeds will be used for general corporate and working capital purposes. The offering falls under a previously filed shelf registration statement with the SEC.
INVO Bioscience (NASDAQ: INVO) has acquired a Canadian entity aimed at enhancing its INVOcell distribution in Canada, a key infertility treatment method. The acquisition allows INVO Bioscience to leverage prior product registration for INVOcell and establish joint ventures to create INVO Centers across Canada, addressing growing infertility issues faced by about 16% of couples in the country. The purchase includes $25,000 in cash and 30,000 shares of common stock, with additional shares contingent on establishing clinics.
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