Ferring Pharmaceuticals Enters Exclusive Agreement with INVO Bioscience to Commercialize the Novel INVOcell™ System for Use in the Treatment of Infertility
PARSIPPANY, N.J.--(BUSINESS WIRE)--Nov 13, 2018--Ferring Pharmaceuticals announced today that it has signed an agreement to acquire from INVO Bioscience Inc. (OTCQB:IVOB) the exclusive U.S. commercialization rights for the INVOcell intravaginal culture (IVC) system, which comprises the INVOcell IVC device, retention device, and holding block. The INVOcell IVC device uses a woman’s own body as a natural incubator during fertilization and early embryo development. In 2015, INVO Bioscience received U.S. Food and Drug Administration clearance for the INVOcell IVC system, making it the first IVC system marketed in the United States.
The agreement is expected to close in January 2019, subject to customary closing conditions. Ferring Pharmaceuticals is a specialty biopharmaceutical group committed to helping people around the world build families and live better lives.
“As a leader in reproductive medicine, Ferring understands that women seeking to start or expand a family want options that suit their individual circumstances,” said Paul Navarre, CEO, Ferring Pharmaceuticals (US). “With this agreement, Ferring aims to make INVOcell, a novel technology used in the treatment of infertility, widely available as an option for women and their healthcare providers.”
“INVOcell was developed in the spirit of making fertility treatment accessible to patients,” said Katie Karloff, Chief Executive Officer of INVO Bioscience. “Our mission at INVO Bioscience is to increase access to care and expand fertility treatment across the globe, and with Ferring, we’ve found a natural partner to accomplish this goal.”
“In my practice, an increasing number of women and couples are choosing INVOcell with favorable results,” said Amber R. Cooper MD, MSCI, FACOG, Medical and IVF Practice Director of Vios Fertility Institute St. Louis, MO. “There is a growing consensus around the need for personalized medicine in reproductive health. That Ferring and INVO Bioscience are moving to make INVOcell an available option for infertility patients across the country is very welcome news.”
In the United States, statistics show that over 1.4 million women may benefit from advanced fertility treatment. 1 However, only approximately 130,000 people begin such treatment. 1
About Ferring Pharmaceuticals
Ferring Pharmaceuticals is a research-driven biopharmaceutical company devoted to identifying, developing and marketing innovative products in the fields of reproductive health, women’s health, urology, gastroenterology, endocrinology and orthopaedics. For more information, call 1-888-FERRING (1-888-337-7464); visit www.FerringUSA.com
Please click here to view the INVOcell Intravaginal Culture (IVC) System Instructions for Use.
1. Fertility Dynamics, an independent data analytics, research and strategic advisory firm based in Washington, DC; data on file
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CONTACT: Ferring Pharmaceuticals
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KEYWORD: UNITED STATES NORTH AMERICA NEW JERSEY
INDUSTRY KEYWORD: HEALTH BIOTECHNOLOGY MEDICAL DEVICES PHARMACEUTICAL
SOURCE: Ferring Pharmaceuticals
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PUB: 11/13/2018 08:00 AM/DISC: 11/13/2018 08:01 AM