Acquisition of MicroSort Technology - NewGenIvf Group Limited has entered into a definitive agreement to acquire MicroSort, a proprietary sperm-sorting technology, for US$5 million [1] - The acquisition strengthens NewGen's position in the global fertility services market and enhances its capabilities in providing assisted reproductive services [1] - MicroSort enables the separation of X and Y chromosome-bearing sperm cells prior to IVF procedures, using fluorescent DNA staining and advanced flow cytometry [2] - The technology is applicable for family balancing and prevention of X-linked or X-limited genetic disorders [2] - MicroSort has established commercial applications and an existing license base in several countries, including Thailand, Japan, Cambodia, and Mexico [2] Transaction Details - The US$5 million purchase price will be satisfied through a combination of US$750,000 in cash and the issuance of 2,500,000 ordinary shares at a deemed value of US$1.70 per share [3] - The transaction is expected to boost the Company's shareholders' equity by US$4.25 million at the time of Completion [3] - NewGen will assume the existing licensing agreements associated with MicroSort, creating an immediate additional revenue stream through license fees from current users [3] Strategic Impact - The acquisition represents a significant milestone in NewGen's growth strategy, enhancing its ability to provide advanced fertility solutions [4] - The transaction is structured to strengthen the Company's balance sheet through the issuance of equity at a premium to market price [4] - Integration of MicroSort into NewGen's existing service platform will strengthen its market position in the rapidly growing Asian fertility services market [4] - The technology provides options for families looking to prevent certain genetic disorders, allowing expansion into countries like China and other burgeoning markets in Asia [4] Company Overview - NewGen is a comprehensive fertility services provider in Asia, offering access to fertility treatments for couples and individuals [5] - The Company's mission is to aid in building families regardless of fertility challenges, providing comprehensive infertility treatment and assisted reproductive technology services [5] - NewGen's clinics are located in Thailand, Cambodia, and Kyrgyzstan, offering a full suite of services including egg and sperm donation, and surrogacy in appropriate jurisdictions [5]
NewGen Announces Strategic Acquisition of MicroSort Reproductive Technology