Sarasota fertility company changes name, ticker symbol

A year of changes continues for a Sarasota health company, as INVO Fertility will begin trading under the new Nasdaq ticker symbol IVF when the market opens on April 28.

The ticker symbol change comes on the heels of the company's renaming. Life sciences company NAYA Biosciences (NAYA) changed its name to INVO Fertility in mid-April. The new company is focused on expanding access to advanced treatment through establishing, acquiring and operating fertility clinics.

“Moving forward, we will leverage our existing, revenue-generating fertility operations with operating centers in Wisconsin, Alabama and Georgia, to acquire and build new centers across the U.S.,” Invo Fertility CEO Steve Shum says in a statement. “We believe the fertility market opportunity remains large and growing, as confirmed by the U.S. President’s recent executive order aimed at reducing the cost of IVF and expanding access to fertility services.”

INVO Fertility was created six months after NAYA Biosciences Inc. was formed as a publicly traded company through an October merger of the fertility-focused INVO Bioscience with NAYA Biosciences, which works on clinical-stage treatments for oncology and autoimmune diseases.

Through the April restructuring, INVO Fertility has separated itself from another portion of the company that had focused on oncology operations, planning to divest a majority stake in subsidiary Naya Therapeutics. Officials say the move is a “strategic decision” that will “maximize shareholder value” for both businesses.

Naya Therapeutics Inc. (NAYA TX) will return to being a privately held biotechnology company led by its own management team and board.

“We remain enthusiastic about NAYA TX's assets and their significant potential upside, which we hope to monetize in the future through value appreciation in the minority stake we plan to retain,” Shum says in a statement. “At the same time, the return of the two businesses to independent entities is expected to enable a more focused effort with dedicated teams. We believe the respective shareholders for each business agree and support this revised structure and approach.'