By Connor Hart
NAYA Biosciences has changed its name to INVO Fertility and will separate its fertility and oncology operations.
The Sarasota, Fla., company said Monday the decision to separate its two main focus areas will enable both to maximize value, allowing each to better focus on their respective opportunities and operations.
With the split, INVO plans to return to its prior focus on fertility through efforts to establish, acquire and operate new fertility clinics. It will additionally increase distribution of its INVOcell device, an alternative to IVF that the company says allows it to reduce costs, increase accessibility and improve patient experiences.
The company also plans to divest a majority stake in its wholly owned subsidiary NAYA Therapeutics, which will return to being a privately held biotechnology company led by its management team and board.
"We believe the fertility market opportunity remains large and growing, as confirmed by the U.S. president's recent executive order aimed at reducing the cost of IVF and expanding access to fertility services," Chief Executive Steve Shum said. "We remain enthusiastic about NAYA TX's assets and their significant potential upside, which we hope to monetize in the future through value appreciation in the minority stake we plan to retain."
The final separation is subject to the completion of key closing conditions, the company said. It plans to change its Nasdaq ticker to IVF as soon as practicable.
Write to Connor Hart at connor.hart@wsj.com
(END) Dow Jones Newswires
April 14, 2025 20:00 ET (00:00 GMT)
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