Business
INVO Bioscience Regains Full U.S. Commercialization Rights
SARASOTA, Fla., Nov. 8, 2021 /PRNewswire/ -- INVO Bioscience, Inc. ("INVO" or the "Company") (NASDAQ: INVO), a medical device company focused on
About this update from Invo Fertility, Inc.
[{"type":"text","content":"SARASOTA, Fla., Nov. 8, 2021 /PRNewswire/ -- INVO Bioscience, Inc. (\"INVO\" or the \"Company\") (NASDAQ: INVO), a medical device company focused on commercializing the world's only in vivo culture system (IVC), today announced it will regain full U.S. commercialization rights for its patented INVOcell® device due to Ferring International Center S.A.'s termination for convenience of that certain Distribution Agreement dated November 12, 2018 with INVO, which termination will officially take effect on January 31, 2022. Over the past three years, INVO has been executing on a multi-faceted commercialization strategy which includes partnering to open dedicated \"INVO Centers\" focused on INVOcell and the IVC procedure, and establishing agreements with distributors in key markets. The terms of the U.S. Distribution Agreement had limited the number of INVO Centers that we were allowed to operate. INVO can now further support U.S. fertility clinicians directly as the exclusive provider of INVOcell® in pursuit of our mission to bring advanced fertility care to the millions of people that are without access to treatment.\n\n \n \n \n \n \n \n\n \n\"The patients are at the core of our strategy, and we believe that our partnerships and multi-channel business approach can most effectively deliver treatment where it is needed,\" said Steve Shum, CEO of INVO. \"We believe that direct access to the U.S. market enables us to aggressively pursue our mission to address and improve capacity constraints in the market, and to provide quality fertility care to the patients who need it. We have assembled a strong team of industry leaders who are highly experienced in commercializing advanced reproductive technologies. With the capital we have raised, we are well positioned to leverage their expertise and our infrastructure to accelerate adoption of INVOcell throughout all channels in the U.S. market. In our opinion, the clinical and commercial validation of INVOcell has grown tremendously over the past few years and we believe this provides a solid foundation for our strategy. Direct control of the U.S. market should now enable us to sell directly into the existing IVF clinics, expand the number of INVO Centers free of any limitations, and to aggressively pursue our market expansion to increase access to care. \n\"We thank Ferring for their valuable p...