INVO Bioscience Expands U.S. Commercialization Efforts
SARASOTA, Fla., Feb. 3, 2022 /PRNewswire/ -- INVO Bioscience, Inc. (NASDAQ: INVO) ("Company") ("INVO"), a commercial-stage fertility company focused on expanding access to advanced treatment worldwide with its INVOcell® medical device and the IVC procedure it enables, provides a commercialization update.
Effective February 1, 2022, INVO regained full U.S. commercialization rights to its INVOcell technology, enabling the Company to sell directly into existing IVF clinics, to expand the number of INVO Centers free of any limitations, and to pursue its market expansion strategy focused on increasing access to care and democratizing fertility care for underserved patients.
Today, the global fertility market is a multi-billion industry, yet remains severely underserved, with estimates suggesting more than
Mike Campbell, COO and V.P. Business Development of INVO stated, "We are now able to synchronize and take an expanded, more comprehensive and direct approach toward our U.S. commercialization efforts. In addition to supporting and expanding upon the approximate 100 U.S. IVF clinics that have trained on the INVOcell device and the IVC treatment process for their operation, we expect to advance our INVO Center efforts as a critical part of the U.S. strategy moving forward. With our initial three centers now fully operational and focused on delivering INVOcell and the IVC procedure, we are excited to continue rolling out additional centers. As previously noted, we have initially identified over 20 cities in the U.S. as attractive markets. We believe our multi-channel commercial strategy of supporting, servicing, and expanding across the existing IVF clinic network as well as building new, dedicated INVO Centers will help drive increased market awareness of our revolutionary technology, and provide a viable option to help served the large, underserved patient population"
Steve Shum, CEO of INVO, added, "The underserved market is a key opportunity for INVOcell and our focus. Democratizing fertility has been and will remain a key part of our Company's mission. We are pleased with the trends and progress at our newly operational INVO Centers and expect 2022 to continue to be transformative as we look to further unlock the value of our breakthrough technology. A tremendous foundation has been built over the years in many core areas supportive of expanded commercialization and we look forward to leveraging and capitalizing on this groundwork moving forward."
Key Commercial Initiatives for 2022:
- Increase distribution activities (selling the INVOcell device to existing clinics). This includes selling direct here in the U.S. market and focusing on the existing, previously signed international distributors. We have added a dedicated resource for the U.S. effort along with important support services such as training and education.
- Drive strong patient volumes within the existing INVO Centers in North America. With key personnel and supportive agencies in place and active, we are expanding our marketing and public relations efforts to complement and accelerate the progress and market awareness at our joint-venture operating INVO Centers in Birmingham, AL, Atlanta, GA, & Monterey, Mexico.
- Build additional INVO Centers. We have identified specific markets and details will be forthcoming.
- Develop our lab services model targeted to support the OB/GYN market. As previously highlighted, Dr. Barbara Levy, M.D., FACOG, FACS, a highly influential clinical executive, joined our team as Senior VP Global Clinical Integration to help guide this effort in collaboration with our commercial and medical team.
INVO expects to provide additional updates on these key areas in the near future.
About INVOcell
The INVOcell procedure is the first in-vivo culture (IVC) system in the world used for the incubation of eggs and sperm during fertilization and early embryo development within the body, as an alternative to conventional In Vitro Fertilization (IVF) and Intrauterine Insemination (IUI). Through its in vivo approach, INVOcell offers patients a more natural and intimate experience with comparable results at a lower cost.
About INVO Bioscience, Inc.
We are a commercial-stage fertility company expanding access to advanced treatment worldwide. Our primary mission is to implement new medical technologies aimed at increasing the availability of affordable, high-quality, patient-centered fertility care. Our patented medical device, the INVOcell®, enables the INVO® Procedure, a revolutionary in vivo method of vaginal incubation. This treatment solution is the world's first intravaginal culture technique for the incubation of oocytes and sperm during fertilization and early embryo development. This technique, designated as "IVC," provides patients a more natural and intimate experience in comparison to other assisted reproductive technology (ART) treatments. The INVO® Procedure can deliver comparable results at a fraction of the cost of traditional in vitro fertilization (IVF) and is a significantly more effective treatment than intrauterine insemination (IUI). Our commercialization strategy involves the opening of dedicated INVO Centers focused on offering the INVOcell and IVC procedure (with 3 centers in North America now operational), as well as selling our technology solution into existing fertility clinics. For more information, please visit www.invobio.com.
Safe Harbor Statement
This release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The Company invokes the protections of the Private Securities Litigation Reform Act of 1995. All statements regarding our expected future financial position, results of operations, cash flows, financing plans, business strategies, products and services, competitive positions, growth opportunities, plans and objectives of management for future operations, as well as statements that include words such as "anticipate," "if," "believe," "plan," "estimate," "expect," "intend," "may," "could," "should," "will," and other similar expressions are forward-looking statements. All forward-looking statements involve risks, uncertainties and contingencies, many of which are beyond our control, which may cause actual results, performance, or achievements to differ materially from anticipated results, performance, or achievements. Factors that may cause actual results to differ materially from those in the forward-looking statements include those set forth in our filings at www.sec.gov. We are under no obligation to (and expressly disclaim any such obligation to) update or alter our forward-looking statements, whether as a result of new information, future events or otherwise.
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SOURCE INVO Bioscience, Inc.
