INVO Stock Skyrockets On Amended Deal With Swiss Pharma Firm

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INVO Bioscience Inc. (NASDAQ:INVO) made a late Monday night announcement about an amendment of its US commercialization agreement with Swiss-based Ferring Pharmaceuticals.

After the announcement, the stocks surged by more than 200 per cent on Tuesday.

The last one-year return of INVO stock has been 26.6 per cent. However, the healthcare stock has rallied in the last three months, returning over 212 per cent.  

Why The Steep Rise?

INVO provides solutions to patients with infertility problem via products like INVO® Procedure and INVOcell®. The company has been expanding in the Asian and European markets ever since the start of 2021.

In its year-end letter to the shareholders, INVO charted out the expanding footprint by opening distribution channels in eight countries in Africa, Asia, Europe, and the Middle East.

The company has shared two-year market data of INVOcell®'s efficacy and the strategic joint venture with partners in India, Mexico, and Malaysia. The establishment of dedicated clinics for INVOcell® has also played a crucial role in boosting shareholders' confidence.

Details of INVO’s Amended Agreement

The various clauses of the INVO’S amended agreement with Ferring Pharmaceuticals are as follows:

• The new agreement allows INVO to expand company-owned clinics in the United States and eliminates earlier imposed geographical restrictions.
• Under the new agreement, Ferring Pharmaceuticals will place the remaining minimum contractual purchase order worth $501,000.
• CEO of INVO Bioscience, Steve Shum expressed optimism in the partnership with Ferring Pharmaceuticals and the use of INVOcell in the expanded U.S. geography under the new commercialization agreement.

According to Steve Shum, this strategy has a three-fold impact:

• It will help increase industry capacity,
• Ensure affordability for patients and
• Facilitate greater access for patients.

(Source: Kalkine Media)

INVO claims the patented INVOcell device is used as an incubator and is ideal for early embryo development through in vivo conception and scores over traditional procedures like IVF where embryo development happens in a laboratory incubator. 

With this novel procedure, INVOcell also seeks to lower the cost and increase the accessibility of the treatment.