• Memphasys reported 10 new live births in India using its Felix system
  • Ramsay Health Care’s credit rating downgraded by Fitch


Memphasys reports 10 new live births in India

Reproductive-focused biotech Memphasys (ASX:MEM) has just reported 10 new live, healthy births in India from using its Felix System. This brings total live births to date using Felix in India to 11.

At the Coimbatore Womens Hospital Centre in India, 33 couples were enrolled in a study which utilised the Felix System.

The study resulted in 40 frozen embryo transfers, with a clinical pregnancy rate of 47.5%. From these pregnancies, there was a total of 11 live births, equating to a live birth rate of 27.5%.

Notably, the overall live birth rate is comparable with the current Australia and NZ benchmark of 31.3% across all patients undertaking IVF from frozen embryo transfers.

According to Memphasys, the distinguishing feature of the study is that the outcome was achieved in a demanding patient demographics – where patients had undergone at least one previously unsuccessful IVF cycle and all males had high levels of sperm DNA fragmentation (average of 34%).

High sperm DNA fragmentation is commonly associated with poor pregnancy outcomes, and the Felix System has proven today that it can effectively deal with this issue.

Dr Ramaya Jayram from Coimbatore Womens Hospital Centre, the clinician responsible for the study, said “the use of the Felix Device enabled the patients to undertake this gentle treatment without needing to resort to invasive procedures such as surgical sperm retrieval.”

India represents one of the top five addressable markets globally for the Felix System.

MEM has however temporarily suspended sales of Felix System in India following changes introduced in August 2022 by the Indian regulator.

To address these changes, MEM has submitted a voluntary product registration with the regulator as an initial strategy to sell non-commercial quantities in India.


Ramsay downgraded by Fitch

Ramsay Health Care (ASX: RHC) meanwhile announced that credit rating agency Fitch has downgraded the investment grade credit rating it ascribed to Ramsay’s Funding Group from BBB/Negative to BBB-/Stable.

Ramsay says the change in rating is not expected to impact its ability to access funding and liquidity in the future.

The financial impact of this change on the company’s $1.5bn Sustainability Linked Loan is a 10bp increase in interest costs, it says.

Ramsay reconfirmed that it expects its FY24 net interest expense (including AASB 16 lease costs) to be in the range of $570-600 million.


Share prices today: