Memphasys announcement on Felix™ System sales in Japan

Australian-based reproductive biotechnology company, Memphasys Limited (ASX: $MEM), has announced that Vitrolife Japan KK, a subsidiary of Vitrolife Group, has placed an additional order for the Felix™ System under its exclusive agreement to sell and distribute the device in Japan. The order includes 200 single-use Felix™ cartridges and six Felix™ consoles to be supplied to six target clinics in Japan. This marks a significant expansion in sales volumes and clinics using the device since the initial distribution agreement in August 2023.

Executive commentary on Felix™ System sales and expansion

This order for six additional consoles and 200 cartridges in the Japanese market is further evidence that our partnership with Vitrolife is continuing to build our sales pipeline. Importantly the feedback from Japanese clinicians and scientists who have already utilized Felix has been very encouraging. I firmly believe MEM, in collaboration with Vitrolife, is on the path for Felix™ to receive public health insurance coverage in Japan which will significantly bolster our sales pipeline into this key market. I am also pleased to see developments with Vitrolife's subsidiaries in Canada and New Zealand and look forward to progressing the onboarding process prior to receiving first orders.

Summary of Memphasys announcement and outlook

Memphasys, in collaboration with Vitrolife, has seen an acceleration in the sales of the Felix™ System in Japan, with Vitrolife placing an additional order for consoles and cartridges. The feedback from Japanese clinicians and scientists has been positive, indicating a growing interest in the device. The company is optimistic about the potential for the Felix™ System to receive public health insurance coverage in Japan, which would significantly enhance its market presence. Additionally, the exclusive distribution agreements with Vitrolife subsidiaries in Canada and New Zealand present further opportunities for commercial access and brand building. Memphasys is focused on progressing the onboarding process in these markets to capitalize on the potential for increased sales and market expansion.