Lakewood Ranch life sciences firm seeks to raise $9.5M through public offering

A Sarasota company specializing in treatments for oncology, autoimmune diseases and women’s health is raising funds in part to buy a fertility center in Wisconsin.

NAYA Biosciences is offering 13,615,171 units at a public offering price of $0.70 per unit, according to a Jan. 13 statement from the company. The closing of the offering is expected to occur Jan. 14.

The company expects gross proceeds from the offering to be about $9.5 million, according to a statement.

NAYA Biosciences plans to use the net proceeds from the offering “to fund an installment toward the purchase price of the Wisconsin Fertility Institute … with a stated value of $4 million toward outstanding debt obligations that are or will become payable upon completion of the offering," according to the statement. 

Maxim Group LLC is the lead placement agent for the offering, while Brookline Capital Markets, which is a division of Arcadia Securities LLC, is acting as the co-placement agent.

NAYA Biosciences was established in October 2024 after a merger with INVO Bioscience. It trades under the symbol NAYA on the Nasdaq and has an office in Lakewood Ranch. Purchasing the fertility center based in Madison, Wisconsin, began before the merger. In August 2023, INVO closed on the acquisition of Wisconsin Fertility Institute for $10 million payable over a three-year period, with $2.15 million due in cash at closing (net of a $315,000 holdback) and $2.5 million due annually for the next three years.