Connect with us

Biotech

Fertty Signs an Agreement with Igenomix Group to Advance in Genetics

Currently, Fertty performs 1,000 treatments a year, a figure it expects to double in a matter of three years. Fertty closed 2020 with a turnover of $3.4 million (€2.9 million), compared to $2.8 million (€2.4 million) in 2019. The Barcelona-based assisted reproduction clinic has just sealed a global agreement with the Igenomix group to advance in genetic research.

Published

on

Fertty is looking for allies to continue growing in the fertility sector. The Barcelona-based assisted reproduction clinic has just sealed a global agreement with the Igenomix group to advance in genetic research, as confirmed by Miguel Ángel Checa, founder of the company.

The agreement, the amount of which has not been disclosed, will serve to “develop technology in genetics and endometrium and to do so jointly”, explains the founder of this clinic located at number 25 Ausiàs March street in the Catalan capital. In this way, Fertty joins forces with one of the leaders in the assisted reproduction sector, which last July was acquired by Vitrolife.

The investment fund behind Igenomix, EQT, decided to transfer the assisted reproduction group for more than $1.4 billion (€1.2 billion). Founded in 2011 as a spin-off from IVI Group, Igenomix is a global benchmark in women’s health and reproductive genetics services for in vitro fertilization (IVF) and rare disease clinics. It has approximately 560 employees and is headquartered in Valencia, with additional laboratories in some 20 countries.

Read more on the subject and find the latest finance news in the world with the Born2Invest mobile app.

Fertty is confident that in three years the percentage of international patients will be 40%

This is not Fertty’s only recent project. The Catalan clinic also partnered with Overture Life, the Madrid-based group specializing in assisted reproduction led by Martín Varsavsky, the Argentine businessman who made lofts fashionable in New York and revolutionized telecommunications with Viatel in the United States, and with Jazztel, Ya, and Fon in Europe.

In 2020, an agreement in principle was announced between both parties and now what Checa defines as an “experimental project in research and development (R&D)” is already underway. Specifically, Fertty will implement the products that Overture Life is developing, adds the founder of the Barcelona-based company.

SEE ALSO  Apple orders Facebook to remove security app amid privacy concerns

Overture Life is the Jazztel founder’s fertility project. The company managed to raise twenty million dollars $21 million (€18 million) from some of Silicon Valley’s heavyweights. Among them are Khosla Ventures, the fund of Vinod Khosla, founder of Sun Microsystems and a historic figure in the tech world; the Wojcicki sisters, the CEO of 23andMe, and Menlo Park’s Felicis Ventures.

Fertty closed 2020 with a turnover of $3.4 million (€2.9 million)

Beyond partnerships, another of Fertty’s objectives is to focus on the international patient. Currently, 95% of clients are national, but the company hopes that in three years this percentage will be 40%, compared to 60% of national patients. To achieve this goal, the company has invested one million euros in the expansion of its center, where it will add 200 square meters to create “a virtual reality visit area” aimed at foreign patients.

At present, the company performs 1,000 treatments a year, a figure it expects to double in a matter of three years. Fertty closed 2020 with a turnover of $3.4 million (€2.9 million), compared to $2.8 million (€2.4 million) in 2019, and the forecast for 2021 is to reach revenues of four million euros. Miguel Ángel Checa is the leader of this project.

The founder is a graduate in Medicine from the Universitat Autònoma de Barcelona and coordinator of the International Master’s Degree in Reproductive Medicine from the same center. In addition, Checa is the head of the section of gynecological endocrinology and human reproduction at the Hospital del Mar in Barcelona. Fertty’s other partner, Juan José Espinós, who served as coordinator of the reproductive endocrinology unit at the Hospital de la Santa Creu i Sant Pau in Barcelona.

SEE ALSO  Microsoft is the latest tech giant to delve into the African market

__

(Featured image by jarmoluk via Pixabay)

DISCLAIMER: This article was written by a third party contributor and does not reflect the opinion of Born2Invest, its management, staff or its associates. Please review our disclaimer for more information.

This article may include forward-looking statements. These forward-looking statements generally are identified by the words “believe,” “project,” “estimate,” “become,” “plan,” “will,” and similar expressions. These forward-looking statements involve known and unknown risks as well as uncertainties, including those discussed in the following cautionary statements and elsewhere in this article and on this site. Although the Company may believe that its expectations are based on reasonable assumptions, the actual results that the Company may achieve may differ materially from any forward-looking statements, which reflect the opinions of the management of the Company only as of the date hereof. Additionally, please make sure to read these important disclosures.

First published in PlantaDoce, a third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.

Although we made reasonable efforts to provide accurate translations, some parts may be incorrect. Born2Invest assumes no responsibility for errors, omissions or ambiguities in the translations provided on this website. Any person or entity relying on translated content does so at their own risk. Born2Invest is not responsible for losses caused by such reliance on the accuracy or reliability of translated information. If you wish to report an error or inaccuracy in the translation, we encourage you to contact us.

Eva Wesley is an experienced journalist, market trader, and financial executive. Driven by excellence and a passion to connect with people, she takes pride in writing think pieces that help people decide what to do with their investments. A blockchain enthusiast, she also engages in cryptocurrency trading. Her latest travels have also opened her eyes to other exciting markets, such as aerospace, cannabis, healthcare, and telcos.