Invo Bioscience (OTCQB:IVOB) recently announced that it has inked a joint venture with Medesole Healthcare and Trading Private Limited to market and distribute the InvoCell in vivo fertility system in India.
The joint venture will be called Medesole Invo Bioscience India Private Limited and is expected to open and operate dedicated InvoCell clinics only in India, according to a Jan. 13 filing with the SEC.
Under the three-year agreement, Lakewood Ranch, Fla.–based Invo Bioscience and Medesole will each own half of the joint venture, sharing equally in expenditures, revenues and profits.
The news comes months after Invo Biosciences entered into commercialization agreements covering Turkey and Jordan.
InvoCell is designed to enable egg fertilization and early embryo development to take place in a woman’s body. Invo Bioscience officials tout that it is half the cost of traditional IVF treatment, with comparable pregnancy rates.
InvoCell won FDA de novo approval in November 2015 and was launched in the U.S. in April 2016. Currently, it is distributed throughout the U.S. under a year-old $8 million agreement with Ferring Pharmaceuticals.