ASX Health Stocks: Memphasys plans in vivo studies in Japan, Canada; ECS sells Tassie assets

Memphasys says its Felix cell separation device will be trialled with in vivo studies in Japan and Canada
ECS Botanics sells Tasmanian assets to fund expansion at Victorian medicinal cannabis facility
Bioxyne plans to divest 49% in Direct Selling Group for a tidy $1m

Cell separation devices company Memphasys (ASX:MEM) says its Felix System will be trialled with in vivo studies (i.e. within a living being) in Japan and Canada.

The Felix System is a patented, automated device for quickly and gently separating high quality sperm from a semen sample for use in human IVF procedures.

The company says its regulatory approval process in China and USA is proceeding as planned and that the completion of its clinical trial with Monash IVF Group Ltd (MVF) will likely be pushed back to 2023 due to lower than expected participation rates.

“We have increased the number of participating sites, and broadened patient inclusion criteria,” MVF CEO Michael Knaap said.

“We are also preparing to launch a recruitment campaign to raise awareness of the FelixTM System trial with clinicians and potential patients.”

MEM share price today:

ECS BOTANICS (ASX:ECS)
The cannabis company has executed a binding contract for the sale of its Tasmanian business and assets owned by 100% subsidiary Tasco for $3m.

The net proceeds are expected to fund continued expansion at its Victorian medicinal cannabis facility.

“We continue to experience very healthy demand for our medicinal cannabis products and this transaction provides important access to growth capital,” MD Nan-Maree Schoerie said.

BIOXYNE (ASX:BXN)

The health and wellness company said it will divest 49% in Direct Selling Group to a Singapore based private equity group for $1m.

The Group holds direct selling licences in Malaysia and Indonesia and currently sells into other Asian countries through third party distributors.

Bioxyne says it will use the funds to “take advantage of other business opportunities which will build shareholder wealth”.

“This is a significant opportunity for Bioxyne to grow our Direct Selling Business just as economic conditions are normalising in Asia,” chairman Tony Ho said.

DORSAVI (ASX:DVL)

dorsaVi and Medtronic have developed a new sensor application to assess movement quality for patients with spinal conditions, using the company’s wearable sensor technology and custom-built AI algorithms.

Beta testing has commenced in the United States at a clinical site and dorsaVi has further extended its agreement with Medtronic for nine months, worth an additional ~US$129k.

INVEX THERAPEUTICS (ASX:IXC)

The company has activated its first Australian and first UK clinical sites in its IIH EVOLVE Phase III Clinical Trial to determine the efficacy and safety of Presendin (sustained release Exenatide) for neurological conditions relating to raised intracranial pressure.

The opening of the clinical sites at VisionSA in Adelaide, South Australia, and at University Hospital, Birmingham, UK, will enable patient screening and recruitment to commence immediately.

Professor Susan Mollan, consultant neuro-ophthalmologist at University Hospital Birmingham, said regulatory approval for the drug would represent a major shift in the current IIH treatment paradigm.

“With the incidence rates of IIH in the UK accelerating and the economic cost of managing patients significant, I am pleased to be involved in this important clinical trial to assess the efficacy and safety of PresendinTM in IIH patients, where a first-line, standard drug therapy intervention is desperately needed.”

LBT INNOVATIONS (ASX:LBT)

The company has nabbed $1.5 million funding from the Australian Government’s Medical Research Future Fund (MRFF) initiative through MTPConnect’s Clinical Translation and Commercialisation Medtech (CTCM) program to support the development of a new smaller benchtop APAS® instrument (APAS® Compact).

The automated culture plate reader is designed specifically for smaller or remote laboratories and means LBT will be able to offer laboratories a range of digital microbiology solutions that address the needs and workflows of all laboratories regardless of size.

Plus, with resourcing issues being felt by laboratories globally, the APAS Compact could represent a market opportunity in smaller laboratories – which LBT says is a larger market segment in terms of overall number of laboratories.