Australian-based reproductive biotechnology company, Memphasys Limited (ASX: MEM) has signed an exclusive agreement with Vitrolife Japan KK, a subsidiary of the Vitrolife Group, to sell and distribute the Felix System in Japan.
Felix, MEM’s first commercial product, is a premium, automated device with single-use cartridges for preparing sperm for human IVF procedures. The device gently separates sperm from a semen sample in six minutes using electrophoresis and size exclusion membranes without causing damage to sperm DNA.
The Vitrolife Group is a publicly listed company on the NADAQ Stockholm exchange with a market capitalisation of approximately A$3.06 billion. Vitrolife is a world-leading global provider of medical devices, consumables and genetic testing services dedicated to the human IVF and reproductive health market. Founded in 1994, the company employs 1,100 people across 33 countries and its products and services are available in more than 125 countries. Vitrolife has manufacturing sites in Sweden, Denmark and the USA and a direct presence in 25 countries, including Japan, with the balance serviced by distributors. Known within the human IVF market for innovation and technology leadership and premium quality product bands, Vitrolife AB predominantly markets its own products and only very selectively markets others.
The agreement provides Vitrolife KK the exclusive right to sell and distribute the Felix system in Japan, for a term of five years. The Japanese market is estimated at 450,000 cycles (2020), a cycle being one round of IVF treatment, and is growing as a result of including IVF in Japan’s national insurance system in 2022. Under the agreement Vitrolife KK will provide marketing, sales and training with an initial focus on key clinicians and high-volume clinics in Japan’s private health sector. Vitrolife will also work with Memphasys to build clinical data sets over time to position the Felix system to later receive full insurance coverage in Japan.
MEM Chief Executive Officer, Alison Coutts, said the agreement marked a significant milestone in the global commercialisation of Felix.
“We are thrilled to have reached this agreement to collaborate with Vitrolife, a recognised leader in the global fertility sector,” she said. “This strategic collaboration enhances the availability of cutting- edge fertility treatment for men in Japan, a major IVF market, where population levels have been on the decline for many years.
“MEM has enjoyed a long-standing relationship with Vitrolife. They have supported the development of the Felix device over the past few years, generously providing Vitrolife media for use in Felix clinical trials and providing MEM with introductions to key opinion leaders across various of our target markets.
Vitrolife KK’s deep knowledge and reach within the Japanese market and their understanding and appreciation of the unique attributes of Felix makes Vitrolife KK an ideal partner to distribute and support the uptake of Felix in Japan.”