European expansion accelerates with ~A$674,000 INVIDO agreement
Memphasys (ASX: MEM) has signed a three-year exclusive distribution agreement with specialist IVF supplier INVIDO LAB s.r.o., covering the Czech Republic, Slovakia and Kazakhstan. The agreement carries total minimum contracted purchases of €416,200 (~A$674,000) over the initial term, with annual minimums escalating from ~A$139,000 in Year 1 to ~A$310,000 in Year 3. The deal builds on Memphasys’ existing and growing European distributor network rather than representing an isolated commercial event.
The INVIDO agreement follows the €526,500 Nordic distribution deal signed with Denmark-based NOVIVITAE ApS, which extended Felix coverage to five Scandinavian markets and brought Memphasys’ European commercial footprint to nine countries before the Czech, Slovak and Kazakh territories were added.
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Understanding Felix™ and the ART opportunity
The Felix™ System is a patented bio-separation technology that isolates viable sperm cells for use in assisted reproduction procedures. It combines electrophoresis and size-exclusion membranes to select the most viable sperm cells, delivering a faster and more standardised process than traditional centrifugation, which can cause cellular stress and DNA damage.
The Felix pivotal study results, presented at FSANZ 2026, demonstrated a statistically significant improvement in Embryo Utilisation Rate over density gradient centrifugation (58.8% vs 49.1%) alongside 100% clinician preference, providing the clinical foundation that distributors such as INVIDO are now positioning to fertility clinic customers across their territories.
The commercial model centres on Felix™ consoles placed in fertility clinics, with recurring revenue generated through single-use cartridges consumed per procedure. For investors, this structure means revenue scales with procedure volume: every new distribution agreement expands the installed base and adds to the recurring cartridge revenue stream.
Three markets, ~89,600 ART cycles, a defined revenue ramp
The contracted revenue schedule
INVIDO holds exclusivity across the Czech Republic, Slovakia and Kazakhstan for Felix™ cartridges and consoles, subject to agreed minimum purchase quantities and other commercial performance requirements. The minimum purchase commitments increase progressively over the three-year term, with the Year 3 figure more than double Year 1, reflecting expected adoption growth as Felix™ becomes established across the contracted territories.
| Period | Minimum purchase (EUR) | Minimum purchase (AUD approx.) | Notes |
|---|---|---|---|
| Year 1 | €86,000 | ~A$139,000 | Initial adoption phase |
| Year 2 | €138,600 | ~A$225,000 | Growing utilisation |
| Year 3 | €191,600 | ~A$310,000 | Established base |
| Total three-year minimum | €416,200 | ~A$674,000 | AUD converted at €1.00 = A$1.62 as at 16 September 2026. Actual amounts may vary with exchange rate movements. |
Market profile — established fertility hubs with scale
The three contracted territories represent a combined addressable opportunity of approximately 89,600 ART cycles across established assisted reproduction markets:
- Czech Republic: 48 ART centres, approximately 54,300 ART cycles (2023); also a destination for patients travelling internationally for fertility treatment.
- Slovakia: 8,288 ART cycles reported in 2024, an increase of 25% compared with 2022.
- Kazakhstan: 31 ART clinics operating nationally, approximately 27,012 ART cycles (2021); 7,000 publicly funded IVF/ICSI treatment quotas available annually, with 19 ART clinics participating in the government-funded programme.
Commercial infrastructure to support adoption
Who is INVIDO?
INVIDO LAB s.r.o. is a specialist supplier of IVF and laboratory equipment and consumables, headquartered in Brno, Czech Republic. The company supplies and supports laboratory technologies across the Czech Republic, Slovakia, Kazakhstan and Germany, with dedicated IVF expertise and technical service capabilities across the contracted territories.
INVIDO brings established IVF clinic accounts, an active fertility-sector presence and local technical support, meaning Memphasys can commence Felix™ commercialisation immediately. Under the agreement, INVIDO will leverage its existing relationships with IVF clinics, fertility centres, embryologists and fertility specialists to drive adoption, while providing first-line customer and technical support.
INVIDO LAB Managing Director Luděk Homola
“We are pleased to partner with Memphasys to bring Felix™ to IVF clinics across the Czech Republic, Slovakia and Kazakhstan.
“Felix™ combines strong clinical outcomes with speed, ease of use and standardisation to help our IVF clients help families achieve their dream of having a baby…”
European commercial lead appointed
Memphasys has appointed Arne Schierau as Director, Commercial Operations Europe, strengthening its on-the-ground capability to support the expanding distributor network. Schierau brings senior experience from Nexpring Health, Fujifilm Biocare Europe and Affymetrix.
Based in Europe, he will lead commercial activities across the region, working directly with commercial partners, clinics and industry stakeholders. His appointment is described as the cornerstone of Memphasys’ planned expansion of its European commercial team.
Marjan Mikel, Chair, Memphasys Commercialisation Committee
“Our European expansion momentum continues. This agreement adds three markets and about A$674,000 in minimum contracted purchases, supported by our newly employed European commercial leader.
“We are doing exactly what we set out to do…”
What’s next for Memphasys
Memphasys has disclosed it is in “advanced discussions” with a number of potential commercial partners across priority international markets. The company remains confident of securing further commercial relationships in the near term, consistent with previously stated guidance.
Each new agreement contributes to the broader commercial strategy: expanding the installed base of Felix™ Systems, adding contracted minimum purchases, and growing the recurring single-use cartridge revenue base over time.
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