Memphasys raises $0.84 million, cuts operating costs

A capital raise of $0.84 million (before costs) demonstrates growing confidence in the Felix sperm separation device, according to ASX-listed reproductive biotechnology company Memphasys.

According to a statement from the company on Monday, it has successfully completed a share placement for that amount, with an additional non-renounceable rights issue to eligible shareholders potentially raising up to $1.12 million.

The company is commercialising Felix, its first product and a new way to separate sperm from semen in laboratories. It said that the new funds represent growing confidence in the Felix, in Memphasys’ ability to convert its pipeline of binding agreements and advanced negotiations into meaningful revenues, and in recent cost-cutting measures.

The issue price of $0.003 cents represented a 36 per cent discount to Memphasys’s five-day volume weighted average price (VWAP.) 

Proceeds will support activities such as delivering on binding commercial contracts already secured, progressing advanced negotiations in the New Zealand, Japan, and Indian markets, scaling production and manufacturing capacity, and CE Mark regulatory progress.

Memphasys added that it has undertaken “a decisive rationalisation of operational costs” worth savings of 40 per cent (from approximately $3.0 million to $1.8 million) in the 2026 calendar year, with these savings to be redeployed into core priorities.

“This strategic capital raising, with strong support from existing, new and institutional investors, is a clear endorsement of our move to a laser focus on Felix commercialisation and near-term revenue,” said Chairperson Lindley Edwards. 

“With funding secured, we are executing binding contracts, advancing new deals, and scaling manufacturing to drive costs down.”

Picture: credit Memphasys

Further reading

Memphasys secures binding commitments for $1.275 million through share placement

Memphasys scheduled to complete clinical trial “by the end of the calendar year”

Memphasys tech shows advantages in small-scale sperm preparation trial

Medical opinion lines up behind Memphasys’ sperm sorting device

Memphasys progresses freeze-free semen transporter