PITTSBURGH, Nov. 21, 2011 /PRNewswire/ -- ParentPlus LLC, a Pittsburgh based product development company specializing in commercializing innovative and proprietary human fertility technologies, is entering into a license agreement with Vitrolife AB Sweden, with the aim of further development of new products for IUI (Intra-Uterine Insemination, artificial insemination).
"I am proud and pleased to announce the signing of this agreement which is a notable milestone on our way to realize our vision to give millions of couples accessible, less complicated and less costly fertility options with a higher rate of success," said Karl Forssman, President and CEO of ParentPlus LLC. "We look forward to the opportunity to help these couples turn their dream of holding a newborn into reality."
Mr. Forssman continued, "The very number of IUI treatments currently being performed constitutes a great commercialization opportunity. Our partner, Vitrolife, is currently committed to improving every step during the in vitro fertilization (IVF). By combining our research and testing strengths within IUI with Vitrolife's proven support of IVF treatments world wide, we see opportunities to increase the value of IUI within assisted fertilization through more effective treatment." Mr. Forssman concluded, "ParentPlus's research and testing around our IUI product has been long and extensive. With this collaboration and a clear roadmap ahead, our next step as a growing organization is to be able to raise capital for product development and integration of other related products."
About Intra-Uterine Insemination, artificial insemination (IUI)
In many countries IUI treatment is a requirement before IVF (In Vitro Fertilization) treatment can begin. It is estimated that there is a market for between 4-6 million treatments a year, with a market value around USD 150-300 million. IUI, "artificial insemination," is a process where the sperm are prepared by separating them from the seminal fluid and then injecting them so that a high concentration of active and motile sperm are introduced directly through the cervix into the uterus and the fallopian tubes, where fertilization of the egg takes place. The method is simple and cost-effective and more or less doubles the chances of getting pregnant compared with intercourse during the estimated ovulation period, but it has limitations concerning which groups for which the treatment works.
About ParentPlus LLC
ParentPlus was formed to commercialize innovative and proprietary human fertility technologies. The Company will, in its first stage, manufacture and sell biotechnology applications to alleviate male subfertility. The Company's goal is to provide the more than 75 million subfertile couples worldwide, currently trying to achieve pregnancy, better odds of fulfilling their dreams of having children. The Company's initial product will increase the efficacy of fertility treatments and at the same time provide a lower cost alternative to expensive and highly publicized conventional treatments.
Vitrolife is a global biotechnology/medical device Group that works with developing, manufacturing and selling advanced products and systems for the preparation, cultivation and storage of human cells, tissue and organs. The company has business activities within three product areas: Fertility, Transplantation and Stem Cell Cultivation. Vitrolife today has approximately 220 employees and its products are sold in more than 90 markets. The company is headquartered in Gothenburg, Sweden, and there are subsidiaries in USA, Australia, France, Italy, United Kingdom and Japan. Production facilities are located in Sweden and the USA. The Vitrolife share is listed on NASDAQ OMX Stockholm, Small Cap. www.vitrolife.com.
SOURCE Pittsburgh Life Sciences Greenhouse