TIDMWDC
RNS Number : 2510T
WideCells Group PLC
11 October 2017
11 October 2017
WideCells Group PLC ('WideCells Group' or 'the Group')
Strategic Partner Secured to Expand into
The Middle East, North Africa and Asia-Pacific Territories
WideCells Group PLC, the healthcare services company focused on
providing stem cell services and ground-breaking insurance for stem
cell treatment, is pleased to announce that it has signed an
exclusive Heads of Terms agreement with multi-sector advisory
business White Apex General Trading ('White Apex'), to sell and
promote the Group's stem cell services in the Middle East and North
Africa ('MENA') and Asia-Pacific (excluding China) territories (the
'Territories').
Overview
-- Expansion into the Territories through exclusive strategic partnership with White Apex
-- Initial three-year binding agreement expected to be secured by 31 October 2017
-- Payment of GBP255,000 will follow completion of the formal
agreement with recurring revenues to be generated thereafter
-- White Apex has option to require WideCells to develop
Wideacademy in MENA, upon payment of additional GBP250,000, prior
to 31 December 2017
-- Deal highlights global roll-out potential through securing worldwide commercial partners
-- Services to be promoted and sold across all three WideCells Group divisions
-- New office to be established in Dubai headed by Dr Ahmed
Alawi, a preeminent doctor in the stem cell sector
WideCells Group CEO, João Andrade, said, "This agreement is an
historic achievement. Not only is this the strongest strategic deal
we have secured to date, but it marks our move into a significant
new region: MENA and Asia-Pacific. Crucially, revenues are expected
to commence by the end of this year, with GBP255,000 to be paid
following signing of the binding agreement, which is anticipated by
31 October 2017, and further revenues expected to follow in the
near term with at least GBP250,000 targeted before the end of the
year and similar numbers targeted year on year thereafter. These
figures will gain even more traction as we continue our expansion
strategy and increase our global profile. This agreement highlights
how rapidly we can grow and we are committed to securing similar
commercial partnerships as we transform the value fundamentals of
our company."
Dr Ahmed Alawi said, "We are proud of our partnership with
Widecells Group as we focus on creating a new paradigm and future
medicine for our people. Our aim is to improve lives and create
hope; we believe this partnership will enable us to achieve these
goals."
Further Information
WideCells Group anticipates that a formal binding three-year
agreement will be secured with White Apex by 31 October 2017, at
which point revenue generation for the Group will begin; GBP255,000
will be paid following signing of the agreement, and recurring
revenues are expected to commence thereafter. White Apex is a
multi-sector advisory business with offices in the UAE, Oman,
Bahrain and Kuwait. The company supports clients across four
primary divisions - Corporate Advisory, Investment, Energy and
Healthcare - and is experienced in the marketing and sale of
commercial products.
WideCells Group will be able to leverage White Apex's
established infrastructure and intends to establish a regional
office in Dubai, which will be run by a team from White Apex. This
team will be led by Dr. Ahmed Alawi, who will become WideCells
Group Managing Director of MENA and Asia-Pacific. Dr. Alawi is an
experienced stem cell scientist who previously led a team at
Genzyme, which was the world's third-largest biotechnology company
in 2010, prior to its acquisition by Sanofi in 2011. He also
founded The Middle East Thrombosis Institute
(www.tri-london.ac.uk). Alongside his medical achievements, Dr.
Alawi has considerable cross functional experience in international
Fortune 500 & FTSE companies, having previously held roles at
Philips Electronics and Shell International. He also has notable
regional connections, having previously worked within the Omani
Government and most recently co-founded RAY International UAE in
2015, which is part of the leading RAY International Group
(http://rayinternational.ae).
Other team members include Ahmad Jemain, who will become
WideCells Group Chief Operating Officer of MENA and Asia-Pacific.
Mr Jemain has considerable experience in corporate and enterprise
in the South East Asian region, particularly within the insurance
industry. Zakaria Aziz will also join the team as WideCells Group
Business Development/ Marketing in South East Asia. Mr Aziz is a
successful entrepreneur who co-founded RAY Oman Group, which is
part of the leading RAY International Group. He has over 28 years
of business experience in the oil and gas sectors in both
South-East Asia and the Middle East.
Under the terms of the initial three-year agreement, White Apex
will sell and promote the following WideCells Group services:
-- WideCells, stem cell collection and dispatch - covers the
processing, quality control, analysis (infectious disease
screening) and long-term storage (up to 25 years) of cord blood
and/or cord tissue
o An initial start-up fee of GBP15,000 payable to WideCells
Group on completion of formal binding agreement followed by
on-going monthly support fees
o Additional ongoing revenue from cord blood and tissue storage
- White Apex to procure clients in the UAE and send samples to
WideCells Group's Institute of Stem Cell Technology laboratory in
Manchester
-- INDUS, a novel synthetic bone graft which promotes new bone
formation. Two products will be available for purchase - INDUS TCP
and INDUS BCP
o White Apex will be appointed as Distributor and authorised to
sell INDUS directly to customers (such as clinics or dentists) or
to appoint sub-dealers within the Territories
o Minimum sales targets will be agreed and established in the
first 90 days when entering each country within the Territories
-- 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
o White Apex to facilitate introductions between CellPlan and
insurance companies in the Territories with a view to securing
commercial sales agreements
o Potential for White Apex to introduce CellPlan to stem cell
storage facilities and provide ongoing support
o CellPlan will pay White Apex introductory commission fees
-- Wideacademy, providing stem cell education and training
services via a custom-built Statistical Analysis System ('SaaS')
platform
o Paid for subscriptions for doctors and medical professionals
to access premium content and digital tools - charged at GBP120 per
year per subscriber/ doctor
-- White Apex to initially sponsor subscriptions for 2,000
doctors per year for two countries in the agreed Territories a
period of three years - generating revenues of GBP240,000 by
signing of the formal agreement - White Apex is expected to
generate further sponsorship in its designated territories
-- Payment for the first 2,000 doctors is due to Wideacademy on
conclusion of the formal binding agreement
-- Thereafter, revenues generated from all future subscriptions
secured in the Territories will be shared between Wideacademy and
White Apex
o Wideacademy platform localised to the MENA region
-- White Apex has the right to pay GBP250,000 before 31 December
2017 for Wideacademy to localise its bespoke SaaS platform for use
in the MENA region
o Accreditation
-- Wideacademy will offer courseware modules to Medical and
Enterprise professionals to enhance their CPD (continuous
professional development) - it is anticipated that these modules
will be free-to-access, but the optional micro credential
accreditation which comes from completion will be charged at c.
GBP200 per module
-- Wideacademy will share with White Apex 30% of revenues
derived from accreditation of online courses from users in the
Territories
o Licensing of the Wideacademy white-labelled platform
-- Opportunity for the Wideacademy platform to be used to drive
Education, Thought Leadership and Knowledge Management in other
areas of medicine outside of stem cells, e.g. Dementia, Cancer and
other major health challenges
-- White-labelled platforms for areas outside stem cells to be
available at a licence fee of approximately GBP500,000 in the first
year and GBP250,000 in the following years (per annum)
-- Wideacademy will share revenues derived from such licensing
deals introduced by White Apex with the company within the
designated Territories
**S**
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
------------------- ------------------------- --------------
Smaller Company Broker - Jeremy Woodgate Tel: +44 (0)
Capital Ltd & Rupert Williams 20 3651 2912
------------------- ------------------------- --------------
Shard Capital Broker - Damon Heath Tel: +44 (0)
Partners LLP & Erik Woolgar 20 7186 9950
------------------- ------------------------- --------------
St Brides Partners PR - Charlotte Page Tel: +44 (0)
Ltd & Olivia Vita 20 7236 1177
------------------- ------------------------- --------------
Notes to Editors
WideCells Group PLC
WideCells Group PLC is building an integrated stem cell services
company, focused on making stem cell treatments accessible and
affordable. In June 2017, the Group was ranked as the 21st most
disruptive company globally by DISRUPT 100, an annual index
celebrating the businesses with the most potential to influence,
change or create new global markets.
The Group has 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
Centre to focus on stem cell research and regenerative medicine.
WideCells also has international cryogenics divisions specialising
in 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
White Apex General Trading
White Apex is a boutique advisory business covering wide
spectrum of services. Rooted in engineering projects, over the
years, the company has become a multi-sector, global advisory
business focused on building highly valued relationships with
individuals, corporates, institutions and Governments. Today, the
company supports clients across four divisions:
-- Corporate Advisory
-- Investment
-- Energy
-- Healthcare
White Apex is a privately owned, dynamic company combining the
diverse, complementary talents of a multi skilled team with global
experience. The company prides itself on its integrity, agility and
client-led, partnering approach. It invests time in developing a
deep understanding of their clients' needs - partnering with them
to provide solutions that enable their business, protect their
assets and grow their capital. Whether their priority is empowering
their business, increasing their presence, White Apex have the
sector understanding and proactive risk management expertise to
help them make the right decision at the right time and with the
right people. They believe that by combining these qualities and
experience they offer a distinct and compelling offering that sets
the company apart from other firms. More importantly, these
attributes help their clients solve the most exacting challenges
and seize opportunities.
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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