In a move that underscores its global ambitions, Australian biotech Memphasys Limited (ASX: MEM) has signed a Letter of Intent (LOI) with Heranova Lifesciences HK Limited to bring the groundbreaking Felix™ System to the rapidly growing Greater China fertility market. The partnership not only expands Memphasys’ international footprint but also highlights the synergy between two companies committed to advancing women’s health.
Currently in clinical trials across nine sites in Australia, the Felix™ System is nearing the completion of its recruitment phase. The data generated will underpin Memphasys’ CE marking application and support its introduction to fertility clinics worldwide.
Dr. David Ali, Managing Director of Memphasys, emphasised the strategic importance of the collaboration:
"This partnership with Heranova represents a major milestone as we expand the Felix™ System’s presence into one of the largest and most dynamic assisted reproduction markets globally. Heranova’s deep expertise and established network in Greater China make them an ideal partner for this journey."
Heranova, founded in 2022, has swiftly established itself as a leader in women’s health innovation. With bicoastal operations in the United States, Heranova focuses on diagnostics and treatments for endometriosis, bacterial vaginosis, and fertility, addressing critical unmet needs in women’s healthcare.
The company recently raised USD 13.5 million in seed and seed+ funding, backed by investors such as Pivotal bioVenture Partners China, Sinovation Ventures, Emerging Technology Partners, and Triwise Capital. The capital will fund the launch of non-invasive diagnostic tests for endometriosis and advance two novel therapeutic programs, one for bacterial vaginosis and another for non-hormonal treatment of endometriosis.
Heranova’s world-class Scientific Advisory Board reflects its commitment to innovation in women’s health. Members include:
Dr. Frank Zhang, Vice President of Medical at Heranova, remarked:
"We are thrilled to partner with Memphasys to bring the Felix™ System to Greater China. With its cutting-edge sperm selection capabilities, the Felix™ System aligns perfectly with Heranova’s mission to provide integrated solutions for women’s health. Together, we aim to redefine standards in reproductive healthcare."
China’s IVF market was valued at USD 5.37 billion in 2023 and is projected to grow at a compound annual rate of 7.7%, reaching USD 9.04 billion by 2030. Societal trends such as delayed motherhood and rising infertility rates, coupled with advancements in reproductive technology, are driving demand.
Heranova will lead the initial clinical assessment of the Felix™ System in Greater China, paving the way for a potential licensing and manufacturing arrangement. Their role also includes financing clinical trials and obtaining regulatory approval from China’s National Medical Products Administration (NMPA), fast-tracking market entry for Memphasys.
This collaboration aligns with Memphasys’ broader strategy of leveraging strong global partnerships to commercialise the Felix™ System. By entering the Greater China market—a key driver of growth within the Asia-Pacific fertility sector—the company is positioning itself as a leader in advanced reproductive technology.
Heranova’s expertise in launching women’s health solutions, bolstered by its capital raise and the guidance of its scientific board, strengthens the partnership’s prospects.