The demand for IVF is surging globally.
getty
Conceivable Life Sciences has announced a $50 million Series A round to amplify its work and efforts to bring AI driven automation and advanced robotic precision to the In Vitro Fertilization (IVF) space. The round will be led by numerous prominent investors including ARTIS ventures, Stride and ACME ventures.
Currently, the IVF lifecycle is an incredibly cumbersome and manually driven workflow which depends heavily on human experience, dexterity and vision. This often leads to a certain degree of inconsistency in outcomes and variability in the experience for families undertaking this already onerous process. In fact, the propensity for error is extremely stressful; the average cost per IVF cycle in the United States can range anywhere between $12,000 to $25,00, with many people requiring more than one round for a successful outcome. Moreover, beyond just the financial costs, parents undergoing the IVF process are required to constantly monitor their health and adhere to a regimented medication schedule to ensure optimal fertility metrics. Thus, any opportunities to streamline or make the process more consistent and successful is a monumental value addition to the field.
This is where Conceivable is hoping to make a difference. Its proprietary lab platform, Aura, applies AI driven algorithms to robotic hardware in order to empower high precision engagement across the entire IVF workflow, ranging from dish preparation, sperm preparation and finding the egg to actually combining the egg with the sperm and incubation, thereafter.
The platform was used in an initial study which resulted in 18 healthy babies, and the company is currently conducting a novel study with nearly 120 more recruited participants; this study is set to complete by the end of this year. Conceivable is hoping to commercially launch the product early next year and to use the funding to further its mission in empowering families and fertility.
Dr. Alejandro Chavez-Badiola, a reproductive endocrinologist and co-founder of the company, explains poignantly that his career in fertility medicine has been extremely fulfilling; now, with Conceivable, his goal is to bring consistent outcomes and the best of modern technology to truly help patients. He also explains that the entire point of Conceivable is to help reduce some of the uncertainty and unpredictability that is normally involved in the otherwise very manual process. By using Aura, the hope is that precision will become a mainstay aspect of the procedure.
Indeed, the AI driven economy in the IVF space is certainly competitive. Nova IVF, for example, recently introduced a new AI powered embryo assessment tool. Another example in this space is SpOvum Technologies, which is pioneering a new technique for injection of sperm into an egg. As a corollary, many adjunctive solutions have become prominent in a space parallel to this: helping families navigate the IVF process through ovulation monitoring, body temperature regulation apps, and holistic fertility trackers. Even fertility wearables have become a huge sub-industry. Conceivable is trying to approach the process more holistically by touching every aspect of the workflow rather than point solutions. The goal is to provide a comprehensive platform.
Why is all of this important?
Because the demand for fertility related technology and services has never been higher. Research indicates that the global fertility market is expected to grow to nearly $87 billion by 2034; the rate of employees using fertility benefits offered by companies is expected to increase by nearly 7% by the end of the decade, and nearly 40% of large employers now offer these benefits.
Therefore, the time is ripe for disruption and innovation in this field, especially as a means to empower better patient experiences and improve societal health outcomes.