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Memphasys (ASX:MEM) says it has secured early commercial traction in the U.K., with four IVF groups now trialling its Felix sperm separation system and initial orders received just weeks after entering the market.
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The biotech company sees the U.K. as one of the world’s largest fertility markets, with more than 100,000 fertility treatment and preservation cycles each year.
The early customer base includes both major IVF groups performing over 10K treatment cycles annually and smaller clinics. The company has already supplied Felix consoles and several hundred cartridges as part of the rollout.
The company expects commercial momentum to continue, with further customer conversions and contract wins anticipated across the U.K. as well as other regions, including Europe, the Middle East, Japan, and Australia.
Director of Clinical Partnerships and Growth Hassan Bakos said the rapid move from customer engagement to commercial trials and first orders reflected strong interest in the Felix technology. He said Memphasys expects to build on that momentum at the upcoming European Society of Human Reproduction and Embryology conference, where it will promote the product to additional clinics.
Memphasys said its strategy is focused on building recurring revenue through ongoing cartridge sales as more fertility clinics adopt the Felix system.
MEM last traded at 70cps, up +16% so far today.
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