Follicular fluid is a liquid which fills the follicular antrum and surrounds the ovum in an ovarian follicle. This fluid is rich in hyaluronic acid, and is used in a modified intracytoplasmic sperm injection (ICSI) called physiological ICSI (PICSI), semi-viscous and yellow in colour. Follicular fluid is a liquid which fills the follicular antrum and surrounds the ovum in an ovarian follicle. This fluid is rich in hyaluronic acid, and is used in a modified intracytoplasmic sperm injection (ICSI) called physiological ICSI (PICSI), semi-viscous and yellow in colour.