Full Press Release Details
Bioscience Enters Distribution Agreement For Taiwan
Fla., Jan. 5, 2023 /PRNewswire/ - INVO Bioscience, Inc. (Nasdaq: INVO) ("INVO" or the "Company"), 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 it has entered an exclusive distribution agreement with Ming Mei Technology
Co. Ltd ("Ming Mei") for Taiwan. The agreement will have an initial 1-year term with renewals.
Mei is a leading distributor of fertility-based devices and components in Taiwan helping to bring the latest and most advanced medical
equipment into the region. Ming Mei estimates it has approximately 90% coverage of reagents and consumables in the reproductive medicine
market in Taiwan. With strong customer relationships in the region, and their familiarity with the field of reproductive medicine, Ming
Mei is ideally suited to expand distribution of INVOcell in Taiwan.
are excited to bring our INVOcell solution to Taiwan through our partners at Ming Mei," commented Steve Shum, CEO of INVO. "Taiwan
has similar characteristics to many other countries throughout the world - decreasing birth rates and rising cost of treatment.
The INVOcell solution helps to address these critical factors with a revolutionary medical device that allows fertilization and early
embryo development to take place in vivo within the woman's body. We look forward to leveraging Ming Mei's strong history
of introducing next generation technologies to the fertility market with planned introduction in [early 2023]."
is a destination for assisted reproductive technology (ART) throughout Asia and also has the lowest birthrate in the world. Taiwan's
birth rate has dropped as a result of similar trends elsewhere in Asia, such as later marriage and increasing cost of living. Further,
the average age of patients requiring therapy is rising. Fortunately, according to the statistics published by "ICMART",
the overall implantation rate of therapy in Taiwan ranked second worldwide, almost equal to the level in the U.S., and a leading country
in Asia. The stable high success rate derives from updated medical research and enriched clinical experience from the physicians, advanced
laboratory facilities and technology as well as patient-centered customized treatment plans (depending on their age, ovarian functions
and causes of infertility, etc.).
to the pandemic, in 2019 there were approximately 55,000 ART cases in Taiwan, an increase of approximately 55% compared to 2016. In July
2021, the government in Taiwan implemented a subsidy plan for ART with the goal of encouraging more local married couples to undergo
ART treatments. The subsidies are also available to transnational couples in which one spouse holds a Taiwanese ID card.
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 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. Our primary
mission is to implement new medical technologies aimed at increasing the availability of affordable, high-quality, patient-centered fertility
care. 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. 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 sell our technology
solution into existing fertility clinics. For more information, please visit www.invobio.com.
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.
more information, please contact:
Lytham Partners, LLC