INVO Fertility Appoints New CFO to Support Growth Strategy
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Dec 30 2025
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Should l Buy IVF?
Source: Newsfilter
- Executive Changes: INVO Fertility has appointed Terah Krigsvold as the new CFO, replacing Andrea Goren, who has served since 2021, to realign human resources with the company's growth strategy in the fertility sector.
- Strategic Focus: Andrea Goren will now concentrate on executing the company's primary growth strategy, including acquisitions and new clinic launches, leveraging his experience in approximately $1 billion of financing and acquisition transactions to drive business expansion.
- Leadership Continuity: New CFO Terah Krigsvold has been with the company since 2020 as controller, ensuring continuity in finance and accounting functions, which strengthens the company's competitive position in the rapidly evolving fertility market.
- Market Expansion Potential: By optimizing its executive team, INVO Fertility aims to enhance its market share in assisted reproductive technology, with plans to further expand its business footprint through new clinic establishments and acquisitions.
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About IVF
INVO Fertility Inc., formerly NAYA Biosciences, Inc., is a healthcare services company focused on the fertility marketplace and expanding access to assisted reproductive technology (ART) care for patients in need. Its segments include Fertility Clinic Services, INVOcell Device, and Therapeutics. It focuses on operating fertility clinics, including INVO Centers dedicated primarily to offering the intravaginal culture (IVC) procedure enabled by its INVOcell medical device (INVOcell) and United States-based, in vitro fertilization (IVF) clinics. It has two operational INVO Centers in the United States and one IVF clinic. It is also engaged in the sale and distribution of its INVOcell technology solution to third party-owned and operated fertility clinics. The INVOcell is a proprietary medical device that allows fertilization and early embryo development to take place in vivo within the woman's body. The IVC procedure provides patients with a natural, intimate, and affordable experience.
About the author

Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
- Patent Protection Expansion: INVO Fertility announced the final issuance of U.S. Patent No. 12,544,204 B2 on February 10, 2026, covering its modified INVOcell® device, ensuring intellectual property protection until 2040, thereby enhancing the company's competitive edge in the fertility technology market.
- Innovative Medical Device: INVOcell is the world's first FDA-cleared intravaginal culture system that allows fertilization and early embryo development to occur within a woman's body, offering a more natural alternative to traditional in vitro fertilization, which is expected to attract more patients seeking fertility treatments.
- Design Simplification: The newly patented device features a simplified design with a single main chamber, eliminating the microchamber based on clinical feedback, aimed at enhancing user experience and improving treatment outcomes, thus driving further growth in the fertility market.
- Strategic Market Support: CEO Steve Shum stated that the patent issuance marks an important milestone in strengthening INVO Fertility's intellectual property foundation, supporting the company's mission to deliver high-quality fertility care through ongoing innovation, which is expected to facilitate future business growth.
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Market Growth: The fertility industry is expected to experience significant growth across clinics by 2026 and beyond.
Driving Factors: This growth is anticipated to be driven by increasing demand for fertility treatments and advancements in reproductive technologies.
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- Financing Agreement: INVO Fertility has signed a warrant inducement agreement with an investor, who will immediately exercise 4,733,728 warrants at a revised price of $1.59 per share, expected to raise approximately $7.5 million, enhancing the company's liquidity for future growth.
- New Warrant Issuance: As part of the agreement, the company will issue 9,467,456 new warrants to the investor at the same exercise price of $1.59, subject to shareholder approval, which is expected to further strengthen the company's capital structure and market appeal.
- Registration Statement Filing: INVO Fertility will file a registration statement with the SEC to cover the resale of common stock upon exercise of the new warrants, ensuring compliance and paving the way for future capital operations.
- Market Strategy Enhancement: Through this financing and the issuance of new warrants, INVO Fertility aims to expand its influence in the assisted reproductive technology market, further driving the development of its INVO Centers and enhancing the company's competitiveness in the fertility healthcare sector.
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