INVO rises as partner NAYA to acquire gene therapy company

INVO Fertility

23/01/2024 13:47

** Medical device maker INVO Bioscience's  INVO.O  shares
rise 8.7% to $1.12 premarket
    ** Company says partner NAYA Biosciences will acquire
Florida Biotechnologies, a gene therapy company focusing on
treatment of mitochondrial diseases
    ** INVO says Florida Biotechnologies' gene therapy program
has received more than $6 mln in grant funding and qualifies for
U.S. FDA's Regenerative Medicine Advanced Therapy (RMAT)
designation and multiple priority FDA review vouchers
    ** RMAT designation expedites development and review of
regenerative medicine therapies and offers sponsor companies
early interactions with FDA
    ** As of last close, stock down 90.3% in past 12 months

 (Reporting by Christy Santhosh)
 ((Christy.Santhosh@thomsonreuters.com))