Memphasys locks in A$350,000 Poland deal as Felix™ European roll-out gathers pace
Memphasys Limited (ASX: MEM) has entered into an exclusive commercialisation agreement with Warsaw-based TK Biotech Sp. z o.o. for the sale and commercialisation of its Felix™ System in Poland.
The agreement carries a minimum contracted value of approximately A$350,000 (€212,000) over the two-year commercial term. With the signing, Poland becomes the third “European” market to secure commercial sales or a commercialisation agreement since CE Mark approval, following Italy and the United Kingdom.
The opportunity arose from inbound interest by TK Biotech, with terms finalised following meetings between the parties at ESHRE 2026 in London.
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Inside the deal: from evaluation to recurring quarterly orders
The agreement is structured around an initial three-month evaluation period followed by the two-year commercial term. TK Biotech will place an initial evaluation order to support product training, clinic demonstrations and early market introduction.
Subject to completion of the evaluation period, contracted quarterly purchase commitments will commence immediately thereafter and are expected to increase materially in the second agreement year. This structure provides a defined pathway from evaluation to recurring revenue.
The appointment is exclusive to Poland while TK Biotech satisfies the agreed minimum purchase commitments and its material commercial, regulatory and market-development obligations. The agreement also includes performance incentives intended to support sales above the minimum contracted commitment.
| Element | Detail |
|---|---|
| Minimum contracted value | ~A$350,000 (€212,000) |
| Commercial term | Two years |
| Evaluation period | Three months |
| Initial evaluation order invoiced | September 2026 quarter |
| First minimum quarterly order | December 2026 quarter |
Based on the current implementation timetable, the initial evaluation order is expected to be invoiced during the September 2026 quarter, with the first minimum quarterly purchase order expected in the December 2026 quarter. Revenue will be recognised as products are supplied and invoiced, with cash receipts subject to the agreed payment terms.
Why Poland: a publicly funded IVF market on the rise
Poland’s IVF sector is expanding following the introduction of the Polish Government’s publicly funded IVF program in June 2024. Public funding broadens accessibility to treatment, creating a supportive environment for reproductive technologies that can improve patient clinical outcomes and clinical workflow efficiency.
According to Polish Ministry of Health data, as at 31 May 2026 the program had reached the following milestones:
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Operating through 58 fertility clinics
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More than 51,000 couples qualified
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29,806 clinical pregnancies
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15,000 births
For investors, the significance lies in the demand backdrop. A government-funded program that has already supported tens of thousands of couples signals sustained treatment volumes, which underpins the recurring-revenue opportunity for consumable-based technologies such as Felix™.
The partner: TK Biotech’s established IVF footprint
TK Biotech is a Warsaw-based distributor of laboratory equipment, diagnostic products and reagents, established in 2001. The company operates across IVF, diagnostics, life sciences, veterinary medicine, biotechnology and pharmaceuticals.
Its team includes specialists in biology, molecular biology and biotechnology, and it maintains technical-service capability across major Polish cities. TK Biotech’s dedicated IVF business, existing clinic relationships, scientific capability and technical-service network provide an established platform for the commercial introduction of Felix™ across Poland.
Under the in-country commercial partner model, responsibilities are divided as follows:
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TK Biotech: developing relationships with clinics, embryologists, fertility specialists and key opinion leaders, plus product demonstrations, customer onboarding, training and first-line support.
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Memphasys: product training, technical support, approved marketing materials and direct participation in selected clinic meetings, seminars, conferences and educational activities.
Anna Maria Pawlak, Sales Director IVF, TK Biotech
“The Polish IVF market presents a significant commercial opportunity as treatment volumes continue to grow. Following our evaluation of Felix™, we believe it provides IVF laboratories with an innovative sperm preparation technology that complements our existing portfolio and addresses an important clinical need. We are excited to partner with Memphasys and look forward to driving the commercial introduction of Felix™ throughout Poland.”
How Felix™ works and why clinics want it
Felix™ is a patented bio-separation technology that isolates the most viable sperm cells for human assisted reproduction. It combines electrophoresis and size-exclusion membranes to deliver a fast, gentle and standardised sperm selection process.
The system is designed to replace traditional centrifugation, which can cause cellular stress and DNA damage. According to the company, Felix™ enhances sperm quality and reduces laboratory time.
The commercial appeal for investors centres on the consumables model. Device placement in clinics is intended to drive ongoing cartridge sales, establishing a recurring revenue stream beyond the initial equipment introduction.
Building the European engine: outlook and next steps
Poland represents Memphasys’ second European Union commercialisation agreement and the third “European” market in which Felix™ has secured commercial sales or an agreement.
The UK market entry followed a similar inbound-driven dynamic, with four IVF groups trialling Felix within weeks of initial clinic engagement across a market conducting more than 100,000 treatment and preservation cycles annually.
In anticipation of additional demand arising from current late-stage contract negotiations and the sales pipeline secured during ESHRE in July, the company has appointed a Director of Commercial Operations – Europe. Described as highly experienced in the IVF arena, he is expected to commence in mid-September 2026 to drive the European sales process, support partner onboarding, clinic conversion and key account management.
Memphasys also continues to progress discussions with additional prospective partners and IVF groups beyond Europe following its participation at ESHRE 2026. The near-term focus is on converting these opportunities into initial orders, completed evaluations and recurring commercial purchases.
For investors exploring how Memphasys structures exclusivity and minimum-volume commitments across different geographies, our detailed coverage of the Thailand distribution deal breaks down the three-year agreement with IVF Envimed and explains how the South-East Asian contracted pipeline pushed total FY2026 Felix revenues past the company’s stated A$2.0M target.
A/Prof Hassan Bakos, Director of Clinical Partnerships and Growth, Memphasys
“Poland is an important addition to our growing European commercial footprint and provides a clear pathway from evaluation to recurring quarterly orders. This opportunity came directly to Memphasys and was advanced rapidly through detailed discussions with TK Biotech, including meetings at ESHRE in London. TK Biotech has an established IVF presence and the technical capability to support clinics as Felix™ is introduced across the Polish market. We remain focused on converting the strong interest generated across Europe into contracted commercial partnerships and revenue.”
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