Therapy Areas: Devices
Invo Bioscience and Naya Biosciences agree merger
23 October 2023 -

Fertility healthcare services company INVO Bioscience Inc (Nasdaq:INVO) and NAYA Biosciences Inc, a company that focuses on increasing patient access to breakthrough treatments in oncology, fertility and regenerative medicine, announced on Monday that they have entered into a definitive merger agreement.

This agreement entails INVO's acquisition of NAYA Biosciences in an all-stock transaction. Shareholders of NAYA Biosciences will receive 7.3333 shares of INVO for each NAYA share, totalling approximately 18,150,000 shares of INVO. Post-merger, the combined entity is anticipated to operate under the name 'NAYA Biosciences', with Dr Daniel Teper, the current and CEO of NAYA Biosciences, serving as chairman and CEO of the merged company.

The merger values INVO at USD12.37m and NAYA at USD90.75m.

Upon completion, which is subject to certain closing conditions, including shareholder approval, INVO and NAYA shareholders are expected to own approximately 12% and 88%, respectively, of the combined company.

Following the merger, NAYA Biosciences intends to operate as a Nasdaq-listed group of high-growth companies, dedicated to increasing patient access to transformative treatments in oncology ('NAYA Oncology'), fertility ('NAYA Fertility') and regenerative medicine ('NAYA Regenerative Medicine'). NAYA's expertise in biology, cell and gene therapy, and artificial intelligence, combined with INVO's network of fertility clinics and INVOcell medical device for intravaginal culture, creates a synergistic platform for the accelerated clinical development and commercialisation of these breakthrough treatments.