Memphasys expands ITL deal with first EU revenues in sight

Memphasys has strengthened its commercial partnership with International Technical Legacy (ITL), upgrading its five year master distribution agreement to a minimum value of $390,000 and expanding the territory to include Turkey.

The Doha based distributor already holds exclusive rights to commercialise Memphasys’ Felix sperm preparation system across 15 countries in the Middle East and North Africa. The addition of Turkey marks the company’s first contracted revenues in the European Union and provides an entry into one of the region’s most active and cost competitive IVF markets.

Turkey is home to more than 100 IVF clinics performing over 40,000 cycles annually, with a growing reputation as a hub for international medical tourism. Memphasys sees the inclusion of the country as a strategic milestone, given the EU is the world’s largest IVF market with nearly one million cycles each year across almost 1,500 licensed clinics.

Under the agreement, initial consoles will be supplied free of charge to new clinics, with revenues generated through sales of Felix cartridges in line with a razor and blade model. The upgrade lifts the binding minimum contract value from $325,000 to $390,000, providing a stronger revenue baseline once CE Mark approval is secured.

Chief executive Dr David Ali said the expansion highlighted genuine demand from clinicians. “This addendum represents a strategically important milestone for Memphasys. ITL has driven this expansion, reflecting the genuine demand they are seeing from their network of clinicians. Of commercial significance is that this new agreement now secures our first contracted revenues in the EU one of the largest fertility markets in the world. With CE Mark approval progressing well, we are now firmly positioned to transition into further commercial revenues and deliver long term value for our shareholders with this initial entry into the EU market,” he said.

The CE Mark submission was lodged in June and is expected to be finalised within nine months, paving the way for revenues to begin flowing in FY2026. In the meantime, Memphasys is pursuing additional volume backed agreements in New Zealand, Japan and India, which would add to the ITL pipeline.

The expanded deal builds on Memphasys’ dual track strategy of partnering with established distributors to seed demand while targeting select jurisdictions for direct sales. The company forecasts that an average IVF clinic could generate between $100,000 and $300,000 in annual recurring revenues from Felix once adoption takes hold.

For Memphasys, the upgrade is more than a contract tweak. It represents a critical beachhead in Europe, validation of market appetite, and a step closer to transitioning Felix from a development story into a commercial revenue stream.