INVO Bioscience Announces Launch of INVOcell in Canada via Exclusive Distribution Agreement with Invaron Pharmaceuticals
10/5/2010 7:18:27 AM
BEVERLY, Mass., Oct. 5 /PRNewswire/ -- INVO Bioscience, Inc. (OTC Bulletin Board: IVOB), a medical device company focused on treatment options for patients diagnosed with infertility, today announced the signing of an exclusive distribution agreement with Invaron Pharmaceuticals, Inc. Based in Kelowna, British Columbia, Invaron specializes in bringing specialty medical products into Canada from outside the country to address rare diseases and certain other medical conditions, including infertility.
There are approximately 27 fertility centers in Canada licensed to perform assisted reproductive procedures. The provincial government of Quebec has recently initiated the funding of up to three assisted reproductive cycles for residents of the province. Fertility centers in Quebec are currently administering approximately 1,850 cycles annually. By 2014 provincial officials predict that the annual number of embryo-implant cycles administered will grow to between 7,000 and 10,000 in the Quebec province alone due to the new reimbursement policy.
Kathleen Karloff, chief executive officer for INVO Bioscience, commented, "The timing of the introduction of INVOcell in Canada is excellent given the government's program to fund up to three assisted reproductive cycles for qualified residents in the province of Quebec. INVOcell will permit fertility centers to respond on a timely basis to the increased demand that the provincial reimbursement will bring. INVOcell is a perfect solution to expand treatment availability without the expense of acquiring additional laboratory space and equipment. Most importantly, INVOcell decreases the risk of multiple births and, by extension, reduces the number of premature births and the significant post-natal costs associated with surviving low birth-weight babies. INVOcell could be an important catalyst in decreasing overall costs."
INVO Bioscience received Health Canada Regulatory Approval in 2009. INVOcell is CE Mark approved in Europe and Canada and conforms with all consumer health and safety requirements. INVOcell is currently marketed and sold in Austria, Cameroon, Columbia, the Dominican Republic, Guatemala, Nicaragua, Pakistan, Panama, Peru, Spain, Togo, Turkey, and Venezuela.
About Invaron Pharmaceuticals
Invaron Pharmaceuticals is the first Canadian based pharmaceutical company that focuses exclusively on the acquisition of orphaned products registered in other countries for the use of Canadians with rare diseases. By addressing clinical gaps, facilitating local registration and launching with innovative marketing strategies Invaron will efficiently meet the under serviced needs of Canadian patients with rare diseases. For more information, please visit www.invaron.com.
About INVO Bioscience
INVO Bioscience (IVOB) is a medical device company, headquartered in Beverly, Massachusetts, focused on creating simplified, lower cost treatment options for patients diagnosed with infertility. The company's lead product, the INVOcell, is a novel medical device used in infertility treatment that enables egg fertilization and early embryo development in the woman's vaginal cavity. The company was founded by Claude Ranoux, MD, a noted expert in the field of reproductive health, infertility and embryology. For more information, please visit www.invobioscience.com.
Private Securities Litigation Reform Act of 1995
This release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The Company invokes the protections of the Private Securities Litigation Reform Act of 1995. All statements regarding our expected future financial position, results of operations, cash flows, financing plans, business strategies, products and services, competitive positions, growth opportunities, plans and objectives of management for future operations, as well as statements that include words such as "anticipate," "if," "believe," "plan," "estimate," "expect," "intend," "may," "could," "should," "will," and other similar expressions are forward-looking statements. All forward-looking statements involve risks, uncertainties and contingencies, many of which are beyond our control, which may cause actual results, performance, or achievements to differ materially from anticipated results, performance, or achievements. Factors that may cause actual results to differ materially from those in the forward-looking statements include those set forth in our filings at www.sec.gov. We are under no obligation to (and expressly disclaim any such obligation to) update or alter our forward-looking statements, whether as a result of new information, future events or otherwise.
SOURCE INVO Bioscience, Inc.