TIDMWDC
RNS Number : 9021U
WideCells Group PLC
24 January 2017
24 January 2017
WideCells Group PLC ('WideCells Group' or 'the Company')
Secures two LOIs for roll-out of CellPlan and launch of new
medical advisory product
WideCells Group PLC, the healthcare services company focused on
providing stem cell services and ground breaking insurance for stem
cell treatment, is pleased to provide an update on the continued
commercialisation of its 100% owned subsidiary CellPlan Limited
('CellPlan'), which has developed the world's first stem cell
healthcare insurance plan and medical concierge service. Having
recently secured a maiden definitive agreement with Biovault
Technical Ltd, the UK's largest private human tissue storage
facility ('Biovault'), to roll-out CellPlan to Biovault's
significant customer base (see announcement dated 9 January 2017),
the Company is delighted to have signed two further non-binding
Letter of Intent ('LOI') agreements to support the continued
roll-out of CellPlan globally. The Company has also developed a new
commercial CellPlan product, YOUR EXPERT CONSULTATION, further
bolstering CellPlan's innovative service offering and creating a
new revenue opportunity.
Highlights
-- CellPlan signed two new LOIs to offer its revolutionary stem
cell healthcare insurance plan and services to:
o Jointly, the specialist cord blood storage and processing
facilities in Brazil have a customer base of over 5,000
high-net-worth clients
-- CellPlan's insurance plan will cover the cost of medical
treatment for clients using stem cells stored by the storage
facilities and their affiliates
-- LOIs, once binding definitive agreements, will enable
CellPlan to target a new global market, creating new revenue
opportunities
-- Launch of new CellPlan product, YOUR EXPERT CONSULTATION, an expert medical opinion service
o Supported by a global leader in expert medical opinion, YOUR
EXPERT CONSULTATION provides clients with access to the best
medical minds in the stem cell industry, ensuring patients get the
right diagnosis and are prescribed the best treatment
o Available both as a standalone product and as part of the
broader end-to-end CellPlan insurance plan
o Low-entry price point
o Product launch in response to proven demand from major global
cord blood storage facilities
o Supports greater market penetration - cord blood storage
facilities able to sell the consultation service directly to their
clients with opportunity to upsell CellPlan insurance policy, which
provides financial cover for stem cell treatment
WideCells Group CEO, João Andrade, said, "We launched CellPlan,
the world's first global stem cell healthcare plan, less than a
year ago, in May 2016, having identified a critical need for
financial and medical support within the rapidly advancing stem
cell industry. Having successfully secured a definitive agreement
with the UK's largest private human tissue storage facility,
Biovault, which will enable the sale and roll-out of CellPlan to
Biovault's significant customer base, we are delighted to have
signed additional potential sales agreements with two reputable
cord blood storage facilities in Brazil. These initial LOI
agreements, which we look forward to converting into definitive
sales agreements, mark a further notable step in the
commercialisation of CellPlan, providing exposure to a new global
region with strong growth prospects; the Brazilian cord blood
banking market is projected to be worth US$445 million by 2023, the
largest in South America's booming stem cell industry.
"Alongside CellPlan's roll-out, and as part of our ongoing
discussions with cord blood storage facilities, we have identified
a strong demand for our innovative medical consultation service to
be offered as part of our comprehensive CellPlan healthcare plan,
but also as a standalone product. Accordingly, we have created,
YOUR EXPERT CONSULTATION; a specialist medical opinion service,
which provides clients with access to the best medical minds. With
a low-entry price point, and a number of major global cord blood
storage facilities showing their interest in this product, we
believe the launch of this consultation service will not only
create a new revenue stream for the Company, but also bolster sales
opportunities for CellPlan. We look forward to the exciting
opportunities ahead."
**ENDS**
For further information, please visit the Company's website
www.widecellsgroup.com, follow us on Twitter @WideCells_Group or
contact:
WideCells Group CEO - João Andrade Tel: +351 919
033 171
------------------- ------------------------- --------------
Vicarage Capital Broker - Jeremy Woodgate Tel: +44 (0)
Ltd & Rupert Williams 20 3651 2912
------------------- ------------------------- --------------
Shard Capital Broker - Damon Heath Tel: +44 (0)
Partners LLP & Erik Woolgar 207 186 9950
------------------- ------------------------- --------------
St Brides Partners PR - Elisabeth Cowell Tel: +44 (0)
Ltd & Charlotte Page 20 7236 1177
------------------- ------------------------- --------------
Notes to Editors
WideCells Group PLC is building an integrated stem cell services
company, focused on making stem cell treatments accessible and
affordable. The Directors believe that the use of cord blood stem
cells for transplant will drive one of the next important phases in
medicine and is therefore developing market leading products in
complementary, strategic areas which are designed to take advantage
of substantial market opportunities in one of the fastest growing
segments in the healthcare industry. With this in mind, it has
created three divisions:
-- CellPlan: the world's first stem cell healthcare insurance
plan with financial cover for medical treatment, travel and
accommodation expenses and concierge service to manage the
treatment process
-- WideCells: the Institute of Stem Cell Technology has been
established and is based in the University of Manchester Innovation
Center to focus on stem cell research and regenerative medicine.
WideCells also has international cryogenics divisions specialising
on stem cell storage.
-- WideAcademy: developing an education and training division to
promote awareness of the benefits of stem cell storage across the
global general practice community.
The Group has built an experienced senior management team that
has been integral to the development of its growth and business to
date.
Stem Cell Fast Facts:
-- Cord blood (which is taken from the umbilical cord) provides
the most effective source of stem cells for families due to it
being simple, safe and painless to collect relative to other
sources of stem cells such as bone marrow - WideCells will focus on
promoting the collection and storage of this.
-- Since 2005, there has been a 300% increase in the number of
illnesses that can be treated using stem cells
-- 82 illnesses can currently be treated using stem cell procedures
-- Despite initial storage often costing no more than a few
GBPthousand, actual treatment can cost in the GBPhundreds of
thousands
This announcement contains inside information for the purposes
of Article 7 of the Market Abuse Regulation (EU) 596/2014
(MAR).
This information is provided by RNS
The company news service from the London Stock Exchange
END
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