Memphasys signs €526,500 Nordic expansion deal
- Memphasys signed an exclusive distribution deal with NOVIVITAE covering five Nordic countries.
- The agreement guarantees at least €526,500 in minimum purchases across a three-year period.
- The deal expands the European commercial footprint of Memphasys to nine total markets.
Biotechnology firm Memphasys (ASX:MEM) signed an exclusive commercialisation agreement with Denmark-based NOVIVITAE to sell and distribute its Felix System across five Nordic nations.
The agreement secures a minimum contracted purchase value of €526,500 over three years following an initial three-month evaluation phase.
NOVIVITAE Managing Director Søren Venderby said, "We are seeing strong early interest from IVF clinics across the Nordic region. Clinics are particularly interested in Felix clinical benefits and its potential to improve laboratory workflow and efficiency."
Under the terms of the deal, NOVIVITAE will place an immediate initial order worth €20,625 alongside three Felix units for the September quarter.
Adding Denmark, Sweden, Norway, Finland, and Iceland expands the company's commercial reach into nine European countries.
Following the announcement, the Memphasys share price was unchanged at $0.005.
The Felix System uses bio-separation technology to process and isolate viable sperm cells for human assisted reproduction.
Memphasys noted that the target region accounts for an established assisted reproduction market, which recorded approximately 55,000 treatment cycles in 2020.
