We are excited to announce the recent expansion of our team as we embark on the next phase of the Memphasys journey. This expansion includes two significant additions to our leadership team.
We warmly welcome Associate Professor Hassan Bakos as our new Director of Operations. Although Hassan is new to our team, he brings a wealth of experience in the field of IVF fertility and the Felix™ System. With 17 years at Repromed/Monash IVF, Hassan possesses unparalleled expertise and skills. During his tenure as the NSW Scientific Director at Monash IVF, he played a crucial role in the development of the Felix™ System, in addition to possessing extensive knowledge of other sperm separation systems.
We are also delighted to welcome Dr. David Ali, as our Director of Business Development. David brings three decades of pharmaceutical industry experience from startups to global companies. David has worked at senior levels across research and development, drug discovery, clinical development, medical affairs, and business unit management. He is a champion of change, innovation, best practice, and patient centricity. His extensive experience in setting up and running clinical trials, collaboration with key opinion leaders, and medical collaboration will prepare Memphasys with the appropriate groundwork for global sales. He is a highly valuable addition to our team and his expertise will be instrumental to the success of Memphasys and the Felix™ System for sales worldwide.
Whilst advancements in IVF technology continue, fertility rates around the world continue to decline. Societal and environmental factors, such as diet, modern lifestyles, and delayed parenthood, are contributing to this decline. These indicators serve as a warning and have spurred the development of more effective fertility treatments. Some countries, including China and Japan, are experiencing decreasing populations. In an era of increasing global awareness, fertility is another aspect affected by these changes.
Sydney-based Memphasys has developed products for global markets and engaged with key opinion leaders to test these products in the development process. We are pleased to report significant progress in what we refer to as the “early markets.” These are countries where regulatory requirements are less stringent. While the Therapeutic Goods Administration (TGA), the Australian regulatory body, is globally recognized, Memphasys is actively working with partners and bolstering sales efforts in India, Japan, New Zealand, and Canada. We are also in advanced discussions to appoint distributors in some of these markets. Our early success in India has been particularly pleasing.
We are proud to share that the Felix™ System has recently contributed to the birth of a baby boy in India from a highly damaged sperm sample. This collaboration with Memphasys will also be showcased at the ASPIRE (Asia Pacific Initiative on Reproduction) conference in Adelaide this September.
We are pleased to report our accelerating progress. As a business, we are preparing for the next stage of our journey, recognising the market demand for the Felix™ System. We are also seeing development progress with ROSA, our next product in our pipeline, to provide a rapid and accurate in situ measurement of oxidative stress. We look forward to sharing more success stories from the early markets in the future.