INVO Bioscience (INVO) said Monday it has completed its merger with NAYA Biosciences by acquiring all of the outstanding equity interests in the company.

INVO said it issued a combination of shares of its common stock and series C-1 and C-2 preferred stock to NAYA's security holders in connection with the merger.

The combined company expects to change its name to NAYA Biosciences, trade on the Nasdaq under the "NAYA" ticker symbol, continue to operate the fertility business and expand its focus to the development of clinical-stage assets in oncology and autoimmune diseases, INVO said.

INVO said Chief Executive Steve Shum and Chief Financial Officer Andrea Goren, and NAYA's founder and former CEO Daniel Teper, will lead the combined company.

Teper will be named president of the combined company and CEO of the NAYA Therapeutics unit, INVO said.

INVO shares were up 4% in recent Monday trading.

Price: 0.67, Change: +0.03, Percent Change: +4.04