ASX Health Stocks: Memphasys tumbles almost 30pc after cow pregnancy trial disappoints

Memphasys drops 30pc after trial results disappoint investors
Echo IQ licences its cardio decision-support tool, EchoSolv, to Respiri
Truscreen’s sales up 40pc in Q3

Memphasys down 30pc after trial results disappoint

Reproductive biotech, Memphasys (ASX:MEM), dropped almost 30% today after reporting findings from a field trial of Artificial Insemination (AI)-Port at a partner stud farm in the Hunter region, NSW.

The trial was conducted with four bulls across 146 cows using Memphasys’ ambient temperature AI-Port system.

The aim of the field trial was to increase pregnancy rates and introduce operational improvements over traditional AI using cryostored semen.

Memphasys reported that pregnancy rates were achieved at only 60% of the rates observed with conventional cryostorage procedures.

MEM says it will use these results to improve identifiable areas in order to make operational improvements.

This will involve modifications, which could include supplementation with additional antioxidants, or making changes to the energy substrates composition.

The major operational improvement however will involve establishing a field laboratory at the site of semen collection, so that the ejaculate is not compromised prior to its suspension in AI-Port medium.

MEM’s AI-Port stores and transports animal semen for artificial insemination for up to seven days without the harmful effects of freezing sperm used in standard AI procedures in livestock.

The company estimates that the addressable beef bovine (non-dairy) market size to be in the magnitude of nearly $2.4 billion.

“While the results are a significant improvement on the initial field trial conducted in April 2023, there is still more work to be done to make it comparable to traditional AI practices in cattle,” said MEM acting CEO, David Ali.

“Despite this, MEM remains strongly of the belief that we can close the gap to conventional practice with the eventual aim of successfully providing better outcomes over traditional AI methods,” said Ali.

EchoIQ to license technology to Respiri

Echo IQ (ASX:EIQ) has entered into an exclusive commercial licensing agreement with medical techcompany Respiri (ASX: RSH) to apply Echo IQ’s AI-backed EchoSolv cardiovascular platform to Respiri’s Remote Patient Monitoring (RPM) user base.

Respiri’s RPM platform is widely used in the US, as it allows healthcare providers to give ongoing patient care after the patient has left consultation or discharged from hospital. RPM has therefore shown to reduce unnecessary healthcare costs associated with unscheduled visits.

Respiri has recently completed a $6.5 million capital raising to fund significant expansion of this RPM solution in the US, and has secured access to an additional $20 million to fund potential future US acquisitions.

The addition of EchoSolv to Respiri’s RPM solution is expected to add strong cardiology capability to an offering already well-established product in the monitoring of respiratory conditions.

Under the terms, Respiri will pay a monthly licence fee for each patient identified as meeting current guidelines for severe aortic stenosis, as well as heart failure.

Pending FDA clearance, EIQ will also earn recurring monthly licence royalties for patients identified by EchoSolv as displaying high-risk aortic stenosis and heart failure risk profiles.

Truscreen’s sales jump 40pc

Truscreen Group (ASX:TRU) surged this morning after reporting a 40% growth in sales of devices in Q3 FY24.

The best selling product was TRU’s Single Disposable Sensor (SUS), which exceeded total sales of last financial year, reaching 141,300 by 31 December 2023 (9 months).

The major contributor to this growth is China following recognition/endorsement of TruScreen in the major Chinese national Guidelines endorsed by the Chinese Society of Colposcopy and Cervical Pathology (CSCCP).

Meanwhile in Zimbabwe, the screening program under the National Aids Council has screened a total of 14,000 women in Masvingo province to date.

TruScreen’s cervical screening platform enables cervical screening, negating sampling and processing of biological tissues, failed samples, missed follow-up, and discomfort.