- An estimated 15% to 20% of the Turkish population suffers from the difficulty of conceiving
- “As the world’s only Intravaginal Culture System, INVOcell, a streamlined treatment solution, is uniquely positioned to address the challenges within the infertility industry.”
INVO Bioscience, Inc. (OTCQB: INVO), (“the Company”, “INVO”) a medical device company focused on creating alternative treatments for patients diagnosed with infertility and developers of INVOcell®, the world’s only in vivo Intravaginal Culture System, received product registration approval for INVOcell in Turkey, paving the way for commercialization efforts to begin in the country.
In November 2019, INVO Bioscience and Orcan Medical, a leading medical distributor to large medical device companies including St. Jude Medical, Cooper Surgical, and Clarus within Turkey, entered into an exclusive commercial partnership for INVOcell in Turkey. The agreement required product registration within country which has now been received. The exclusive agreement with Orcan Medical for Turkey is contingent upon minimum purchase and other requirements.
Turkey, and the Eurasia region, has a growing middle-class population, yet is experiencing a multi-decade decline in birth rate according to The World Bank. The decline in fertility rates in Eurasia at large, and Turkey in particular, has pushed governments to allocate more resources to combating the issue. According to research, an estimated 15% to 20% of the Turkish population suffers from the difficulty of conceiving.
Steve Shum, CEO of INVO Bioscience, commented, “We are pleased to have achieved this important registration approval for Turkey which enables our distribution partner, Orcan Medical, to now begin commercialization efforts in the country. Similar to other regions around the world, the people of Turkey are faced with increased infertility rates and challenges to receiving treatment, including access to care and cost of treatment. As the world’s only Intravaginal Culture System, INVOcell, a streamlined treatment solution, is uniquely positioned to address the challenges within the infertility industry.”
The INVOcell System
The INVOcell system is a novel fertility treatment that uses a woman’s own body as a natural incubator for the incubation of eggs and sperm during fertilization and early embryo development. INVO Bioscience believes this process is cost-effective and has shown highly effective pregnancy rates and may have the ability to significantly increase patient access. The Company further believes the INVOcell system helps eliminate the need for costly infrastructure and overhead associated with IVF, one of the primary hindering factors to fertility treatment capacity. The Company’s unique in vivo fertilization process also has the potential to serve as a powerful motivator for many patients with religious and/or cultural concerns.
Fertility Treatment Market
Worldwide, the fertility treatment market is severely underserved. Currently, only 1% to 2% of the estimated 150 million infertile couples worldwide are treated, with the primary prohibiting factor being cost and access to treatment.