Memphasys secures first Southeast Asian Felix deal
Memphasys (ASX:MEM) has secured its first commercial partnership in Southeast Asia, signing an exclusive two-year distribution agreement with TMSC Viet Nam Medical Technology.
The deal, valued at $530,000, marks a major geographic expansion for the company's proprietary Felix sperm separation system, which already has established commercial networks across Europe, the MENA region, Japan, and India.
Under the contract terms, revenue is structured to escalate from $205,000 in the first year to $325,000 in the second year, driven by projected quarterly cartridge order growth as clinical adoption accelerates.
Full commercial sales are slated to commence following regulatory approval from local health authorities, with formal registration expected in August.
The Felix system has been classified as a Class B medical device under Vietnamese regulations.
The entry positions Memphasys within one of Asia's fastest-growing assisted reproductive technology markets.
Vietnam's in-vitro fertilisation sector was valued at approximately US$141 million in 2023 and is forecasted to surpass US$200 million by 2029, propelled by increasing healthcare investment and rising regional infertility rates.
Operating alongside TMSC Vietnam, Memphasys will employ its proven direct sales model to drive product education and clinic adoption across expanding fertility infrastructures in key urban centres like Hanoi and Ho Chi Minh City, where IVF success rates now parallel those of leading European and American laboratories.
At the time of reporting, Memphasys’ share price was $0.0050.