INVO Bioscience Highlights INVOcell Progress From the 2022 American Society for Reproductive Medicine (ASRM) Congress & Expo
- The multi-billion-dollar global fertility market is predicted to reach approximately US
- The INVOcell solution provides an advanced, effective and affordable infertility treatment to help increase access to care.
- INVO Is commercially advancing INVOcell through the opening of INVO Centers, opportunistically now pursuing acquisitions of established fertility (IVF) clinics in the U.S., and continuing to offer the technology to existing fertility practices.
SARASOTA, Fla. and ANAHEIM, Calif., Nov. 1, 2022 /PRNewswire/ -- INVO Bioscience, Inc. (NASDAQ: INVO), a commercial-stage fertility company focused on expanding access to advanced treatment worldwide with its INVOcell ® medical device and the intravaginal culture ("IVC") procedure it enables, today announced a successful showcasing of INVOcell at last week's 2022 Scientific Congress & Expo of the American Society for Reproductive Medicine (ASRM) held on October 22-26, 2022 in Anaheim, California.
Check out this video titled "How INVOcell Works": https://vimeo.com/725014908.
"INVO's cumulative progress over the past two years, on both the commercial front as well as additional real world patient outcomes data, allowed us to further highlight our innovative INVOcell solution at last week's ASRM conference," commented Steve Shum, CEO of INVO Bioscience. "It was clear at this year's annual conference that INVOcell's presence in the marketplace is growing, and our expanded commercial approach is attractive. Our business development team engaged in a number of productive discussions with interested parties at the conference revolving around our commercial efforts toward providing INVOcell to existing clinics, opening our own INVO Centers, and now selectively acquiring existing fertility practices."
Important to the recent progress, over the past year, INVO Bioscience opened, in collaboration with physician partners, three North American-based INVO Centers focused on offering IVC as an advanced and affordable alternative to IVF, utilizing INVOcell. The Company has also announced plans to open centers in Kansas City, Tampa Bay, and the San Francisco Bay Area with the goal of further expanding to other locations to help address the massively underserved patients suffering from infertility issues and a lack of affordable and reasonably located access to care.
On August 15, 2022, INVO also announced its intention to opportunistically pursue acquisitions of established fertility clinics in the U.S. to complement its existing strategy of opening new INVO Centers to accelerate its growth initiatives. The Company signed a non-binding letter of intent for one specific opportunity. INVO and the key principals are working to consummate this acquisition and will then develop a plan to incorporate INVOcell and the IVC procedure into the clinic's existing operations to grow the business and provide an additional treatment option for patients.
"We believe the strategy to acquire established fertility clinics in the U.S. complements our existing INVO Center strategy and will allow us to accelerate our growth plans and help expand the use of INVOcell. Potential acquisitions of established profitable fertility clinics in the U.S. represents a logical extension of our strategy. We believe the ASRM conference provided a great opportunity to further communicate our overall progress and technology achievements as well as our unique commercial approach toward helping to democratize fertility care," Shum concluded.
The ASRM Scientific Congress & Expo, https://www.asrm.org, is an in-person conference held each October in various cities across the U.S. The Society is dedicated to the advancement of the science and practice of reproductive medicine. It accomplishes its mission through the pursuit of excellence in evidence-based, life-long education and learning, through the advancement and support of innovative research, through the development and dissemination of the highest ethical and quality standards in patient care, and through advocacy on behalf of physicians and affiliated healthcare providers and their patients. This year's Congress featured tracks for Reproductive Endocrinology, Assisted Reproductive Technology, ART Lab, Reproductive Surgery, Mental Health, Nursing, Genetic Counseling, Male Reproduction, and more.
About INVO Bioscience®
We are a commercial-stage fertility company dedicated to expanding the assisted reproductive technology ("ART") marketplace by making fertility care accessible and inclusive to people around the world. Our primary mission is to implement new medical technologies aimed at increasing the availability of affordable, high-quality, patient-centered fertility care. Our flagship product is INVOcell®, a revolutionary medical device that allows fertilization and early embryo development to take place in vivo within the woman's body. 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, intimate, and more affordable experience in comparison to other ART treatments. We believe the IVC 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 is focused on the opening of dedicated "INVO Centers" offering the INVOcell ® and IVC procedure (with three centers in North America now operational), in addition to continuing to distribute and sell 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.
