Australian-based bio-separations and reproductive biotechnology company Memphasys Limited (ASX: MEM) has made additional sales of its Felix System to two customers, Diagens Biotechnology Company Ltd in China and the Womens Centre in Coimbatore, India.
The Felix System is a patented, rapid, automated device for quickly and gently separating high quality sperm from a semen sample for use in human IVF procedures. It is proven from comprehensive in vitro testing to be more effective than current procedures in selecting quality sperm from a wider range of semen samples, including most types of poor-quality samples.
The Indian Women’s Centre IVF clinic has used the initial Felix cartridges purchased in December 2021 with the Felix System console and is now ordering more cartridges. As is increasingly common practice in IVF, particularly during covid, quality embryos are frozen for future use, and the embryo is subsequently implanted to the female. The Centre is initially using the FelixDevice clinically for poorer quality semen samples with high DNA fragmentation.
Memphasys previously reported a sale to the Indian Women’s Center IVF clinic, a world first sale for clinical use of the Felix System, on 20 December 2021.
A repeat sale from the same clinic is of even greater strategic importance than the initial sale. This is the first time that any clinical_in vivo_ performance of the FelixSystem has been reported. It is significant in that the clinic has reported the FelixSystem is enabling excellent quality embryos to be created and that they are noticeably better than those from using traditional Density Gradient Centrifuge (DGC).
Memphasys Executive Chairman Alison Coutts said a repeat sale is a validation that the clinic is finding the system of clinical utility.
The follow-up order from Diagens is their second order for a Key Opinion Leader (KOL) research customer in China. The first sale, for a research application to a Chinese KOL, was reported on 22 November 2021, and arranged by Diagens. This sale, like the first, comprises a console plus a supply of cartridges.
Diagens is a Chinese company that manufactures and distributes proprietary and other IVF products to its network of 500+ assisted reproduction centres and 300+ prenatal diagnosis centres in China The order has been shipped and invoiced.
A repeat sale from Diagens, like the first, is not material in dollar value but is strategically important. Diagens is aware of the KOL_in vitro_ test results to date which provides validation of the system’s potential to treat a wide range of semen samples. With that knowledge, Diagens is confident of making more research sales to premium reproduction medicine research institutes in China in due course.
Diagens is also working closely with Memphasys and applying for fast track “Green Channel” regulatory path for Felixto be sold in the Chinese market.
Commenting on the repeat sales, Memphasys Executive Chairman Alison Coutts said:
“It is very pleasing to receive repeat orders from existing clients, as it validates our business model and confirms the FelixTMSystem is proving effective in both research and clinical settings,” Ms Coutts said.
“We are now ramping up sales activities in the identified early markets, including engaging in an executive search process for a sales manager, to ensure the sales momentum continues.”