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| Sperm freezing |
Sperm freezing is a promising market for startups.
Alexander McKinnon suffered from constant fatigue last summer. “I would lie on the couch at 2 p.m. and fall asleep,” he recalled.
The founder of a biotech startup in Boston thought it was a normal result of work stress, but his condition didn’t improve over time. In September, his doctor ran blood tests that revealed his “extreme fatigue” was caused by low testosterone levels. His treatment was steroid injections to boost his energy, but the side effects included a sharp drop in his sperm count.
Although McKinnon, now 32, and his wife weren’t ready to have children yet, they didn’t want to lose that future prospect. “That’s when I decided to freeze my sperm,” he said.
Although sperm banks are not new, the development of inexpensive chemical preservatives for use at home has made it easier to obtain this service, eliminating the need for clinic visits. Growing health awareness among men has also contributed to the emergence of a small market of startups offering direct-to-consumer services, including mail-order freezing of sperm samples and reproductive health testing via a mobile app.
Although sperm banks are not new, the development of inexpensive chemical preservatives for use at home has made it easier to obtain this service, eliminating the need for clinic visits. Growing health awareness among men has also contributed to the emergence of a small market of startups offering direct-to-consumer services, including mailing samples for freezing and providing reproductive health tests via a mobile app.
Read also: CDC Doesn't Disclosure About Risks of Fertility Treatments
McKinnon used a home test kit he ordered from a company called Legacy. It includes a small plastic cup similar to those used in clinics, a vial of a pink liquid that acts as a preservative, a sturdy military-green zippered bag, and a small lock to ensure the sample is not tampered with during transit. After collecting the sample, he sent it via overnight express shipping.
Legacy is one of the largest startups in the male infertility market, which is estimated to be worth approximately $4 billion annually in the United States. The New York-based company serves approximately 40,000 customers and has raised $50 million in funding from investors and celebrities, including singer Justin Bieber.
Khaled Kteily, founder of parent company Give Legacy, said ease of use is the key to the growth of the mail-order sperm freezing market. “All you need is an iPhone and five minutes,” he said. Legacy offers sample collection and storage at facilities on the East Coast for $100 to $150 per year, significantly less than traditional clinics.
The gap is even more pronounced when compared to egg retrieval and freezing procedures, which take months and cost tens of thousands of dollars. “When you compare that to egg freezing, it’s amazing,” he said.
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