Reproductive biotechnology company Memphasys (ASX: MEM) has secured a $530,000 commercialisation agreement with TMSC Viet Nam Medical Technology for the sale and distribution of its Felix medical device in Vietnam.
The two-year agreement will comprise annual payments of $205,000 and $325,000, with contracted quarterly cartridge order growth to meet expected clinical adoption of the electrophoresis-based sperm separation device in assisted reproduction.
TMSC Vietnam has placed an initial $50,000 order for 100 Felix cartridges and three consoles to support in-market testing and clinical preparation activities ahead of a full commercial launch once regulatory approval has been received from Vietnamese health authorities.
The agreement represents the first commercial partnership for Memphasys in south-east Asia and is believed to be a meaningful step in the geographic diversification of its international distribution network.
Fast-Growing Market
Vietnam is one of Asia’s fastest-growing assisted reproductive technology markets, with its in vitro fertilisation (IVF) sector estimated at approximately $196 million in 2023 and forecast to exceed $278m by 2029, driven by rising infertility rates, increasing healthcare investment, and growing demand for premium fertility services.
The nation has established itself as a regional IVF leader, with success rates comparable to leading centres in Europe and the US, supported by highly-trained clinicians and rapidly-expanding fertility infrastructure across Hanoi and Ho Chi Minh City.
Demand for advanced sperm selection technologies such as Felix is expected to accelerate as clinics increasingly focus on improving IVF outcomes and laboratory efficiency.
“Vietnam is exactly the kind of market Feli was built for—a sophisticated, high-growth IVF sector that is actively looking for clinical tools that improve outcomes and reduce procedural complexity,” Memphasys commercialisation committee chair Marjan Mikel said.
“We are looking forward to working alongside the TMSC Vietnam team to introduce Felix to Vietnamese clinicians and we are confident in the opportunity ahead.”
New MENA Partnership
The Vietnam agreement reflects the same commercial structure deployed by Memphasys in the Middle East and North Africa (MENA) region through a recent partnership with Qatar-based International Technical Legacy.
Under the terms of that deal, ITL will have exclusive commercial and distribution rights to market Felix to approximately 353 clinics across 15 countries where a cumulative 140,000 IVF cycles are performed per year.
Both agreements are supported by a direct engagement model whereby Memphasys works alongside its partner to provide active support on product education, clinical positioning, and market development activities while leveraging local expertise and established relationships across strong healthcare systems.
The company’s commercial strategy focuses on building contracted sales through direct and distribution-led channels, scaling production to improve margins, and establishing Felix as a new global standard in sperm preparation.
