TIDMWDC
RNS Number : 0056A
WideCells Group PLC
21 December 2017
21 December 2017
WideCells Group PLC ('WideCells Group' or 'the Group')
Corporate Update
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 a number of corporate
changes that reflect the Company's transition from product
development into a revenue-generative, international provider of
stem cell services. The Company has today strengthened its
management and advisory team through the appointment of three new
board members, created a new Scientific Advisory Committee and
appointed a specialist advisory company, WG Partners LLP ('WG
Partners'), as joint broker.
Board Changes
Mr. Alan Greenberg, previously Vice President of Wideacademy and
a Group Non-Executive Director, is now a Group Executive Director,
Group Chief Business Development Officer and Senior Vice-President
of Wideacademy. Though predominantly continuing the growth of
Wideacademy, his responsibilities include: producing and refining
business development strategies; designing and implementing
processes to support growth, both by working with clients and
business partners; developing marketing strategies, maintaining
contacts and project partners; and driving prospects through to
contract award, including identifying new customers and markets and
the approaches to them.
Mr. Peter Presland, Mr. Malcolm Glaister and Mr. Zakaria Aziz
have joined the Board of WideCells Group, as Non-Executive
Directors, with Mr. Peter Presland assuming the Chairman position.
The three new directors bring a wealth of corporate experience to
support WideCells Group's targeted growth initiatives as it looks
to increase its global profile and build sales across its
innovative stem cell services portfolio. As part of these board
changes, Dr. Graham Hine, incumbent Chairman, has retired from his
board role having successfully supported the Group's IPO in July
2016 and advanced the Company to a point of international growth
and development. Dr. Graham Hine remains as a director of a
subsidiary of the Group.
Mr. Peter Presland LLB, ACA, has a track record of building both
large and small companies through the development of corporate
strategies to create shareholder value. Over his 45-year career he
has held numerous chairmanships and directorships spanning a range
of sectors including pharmaceutical, healthcare and insurance. He
was CFO then CEO at C E Heath PLC, a London Stock Exchange listed
major international insurance group, and has held previous
non-executive positions at East Kent Hospitals University
Foundation NHS Trust, one of the largest Foundation Trusts in the
UK, John Holman & Sons Limited, the (then) oldest independent
Lloyd's insurance broker, and Chairman at Link, the UK ATM network.
He is currently Chairman of Beautiful Information Limited, which
provides analytics to the NHS/health sector and R & B
Underwriting, an insurance agency and a non-executive director at
AIM listed Redx Pharma plc, a company pioneering transformational
drug discovery and development in the areas of cancer and fibrosis.
His extensive experience and network of contacts within the medical
and insurance industries will support WideCells Group's active
growth strategy as it looks to build client reach and rapidly
advance product roll-out internationally. Additionally, Mr Presland
will assume the role of Chairman of the Group's audit and risk
committee.
Mr. Malcolm Glaister brings extensive capital markets experience
having held a number of management roles across a broad spectrum of
leading investment and trading businesses. In 2012 he founded Farm
Street LLP, of which he is currently CEO, delivering financial
advice to mainly UK entrepreneurs and businesses, covering
corporate finance, treasury, debt, and asset management. He is also
a Founding Partner and CEO of the Eight Great Technologies
Investment Fund LP, a venture capital fund focusing on investing in
emerging UK technology companies. Prior to this, Mr. Glaister was
Head of Private Banking for Lloyds Bank PLC, managing the company's
wealthiest clients; responsible for European private client
business in private equity, real estate and hedge funds at AIG
Investments; and Head of Family Offices and a senior private banker
at JP Morgan, with responsibly for the larger UK domiciled clients.
His financial experience, investor knowledge and prestigious
network of contacts will be invaluable to WideCells Group as the
Company looks to build its investment profile. Mr Glaister will
also assume the role of Chairman of the Group's remuneration
committee.
Mr. Zakaria Aziz is a successful entrepreneur with significant
corporate and investment experience, primarily in South-East Asia
and the Middle East where WideCells Group has recently become
active following its strategic agreement with White Apex General
Trading in October 2017. Having started his career in oil and gas,
working with companies including Brunei Shell Petroleum and Alpha
One Engineering, Mr. Aziz is currently a director of the RAY
International board. With proven success in driving global business
development and unrivalled operational experience and business
relationships in South-East Asia and the Middle East, which
represent prospective new markets for WideCells Group, Mr. Aziz
will be integral in supporting the continued global growth of the
Group and building its investment profile.
Scientific Advisory Committee
As part of the Group's commitment to remaining at the fore of
development within the stem cell industry, and in accordance with
its aim to ensure a consistent level of operational excellence,
WideCells Group has created a Scientific Advisory Committee (the
'Committee'). The Committee will be responsible for identifying and
advising the Board on new developments within the stem cell sector
to ensure that the Group continues to address market demand and
offer the most competitive and innovative portfolio of
services.
The Committee will also help to manage all research work for the
Group. This will include research linked to the Group's educational
training division, Wideacademy, as well as paid-for-research
projects that are undertaken at the Group's Institute of Stem Cell
Technology in Manchester, UK.
The Committee will be chaired by Prof. Tristan Mckay. He will be
supported by a team of leading medical innovators.
Prof. Tristan McKay is Professor of Stem Cell Biology and Head
of Genes, Cell & Molecular Biology Group at the Biomedical
Research Centre, School of Healthcare Science, Manchester
Metropolitan University, UK. He leads a group of researchers
investigating the signalling pathways underlying cellular
reprogramming during differentiation and de-differentiation in
development and disease. Prior to this he was Reader in Molecular
and Cell Sciences at St. George's University of London and Senior
Lecturer at the Centre for Endocrinology, William Harvey Research
Institute, Queen Mary University of London. He is a member of
numerous UK and international organisations focused on stem cell
research and gene therapy including the American, European and
British Society for Gene and Cell Therapy, as well as the
International Society for Stem Cell Research. Professor McKay has
also published original research in leading publications such as
Stem Cell Research, Scientific Reports, Molecular Therapy and Mol
Cell Endocrinol.
Dr. Ahmed Al-Alawi has significant biotechnical and management
experience having previously led a team for the development of a
manufacturing process for a major product at Genzyme. He consults
and advises on strategic investments, management, manufacturing and
innovation and works closely with leading universities,
organisations and businesses on shaping the future of healthcare
and innovation globally. In 1989 he founded the Middle East
Thrombosis Research Institute in the UAE, which boasts 18 research
centres. During 2011 to 2013 he was a Programme Director of the
HealthCare Programme at the Gulf Research Centre in Cambridge, UK.
Alongside his medical achievements, Dr. Alawi has considerable
cross functional experience in international Fortune 500 & FTSE
companies, having previously held roles at Royal Philips
Electronics and being a recipient of a scholarship from Shell
International. He also has notable connections in the Middle-East
having previously worked within the Omani Government and co-founded
RAY International LLC, which is part of the leading RAY
International Group. As well as being part of the Scientific
Advisory Committee, Dr. Al-Alawi is WideCells Group Managing
Director of MENA and Asia-Pacific.
Dr. Niranjan Bhattacharya is a leading Obstetrician and
Gynaecologist in Kolkata, India, who has won several industry
awards and was named one of the top five cord blood industry
influencers by market researcher, BioInformant. He has worked in
hospitals and advised on various medical and health boards for over
30 years. Through his research into various aspects of pregnancy
and the developing foetus, he learnt about other uses for pregnancy
specific biological substances, including the use potential of cord
blood; subsequently he founded a new Department of Regenerative
Medicine and Translational Science at the Kolkata school of
Tropical Medicine, India (www.stmkolkata.org) in April 2012. He has
written extensively on the topic of cord blood and presented at
leading institutions worldwide, including Harvard, University of
London, University of Glasgow, and Chinese University of Hong Kong.
He is currently pioneering highly innovative research projects,
such as the use of foetal cell and tissue therapy in degenerative
disease; placental umbilical cord blood as an emergency substitute
of adult whole blood and; the role of amniotic fluid as a burn
dressing.
Dr. Richard Shaffer is a consultant in Clinical Oncology at St
Luke's Cancer Centre, Guilford, and Clinical Lead for Radiotherapy
Innovation at GenesisCare UK. Prior to this he was Specialist
Registrar in Clinical Oncology at Charing Cross Hospital,
University College London Hospital, and Royal Free Hospital
Hampstead, London, and most recently was a Clinical Fellow in
Radiation Oncology at the British Columbia Cancer Agency,
Vancouver. He is chair of numerous biotech and development groups
spanning several medical fields including cancer, oncology and
radiotherapy.
Appointment of WG Partners (www.wgpartners.co.uk)
WG Partners is a specialist boutique that supports healthcare
and life science companies across the globe with corporate
advisory, M&A and capital raising services. As a leading
advisor in the sector, with significant institutional reach,
clients of WG Partners include well-known companies in the sector
such as BTG plc and Oxford Biomedica and a large number of other
exciting biotech growth companies in the UK, Europe and Australia.
WideCells Group is delighted to be represented by WG Partners, as
it looks to build its presence amongst the institutional investment
community.
WideCells Group CEO, João Andrade, said, "Having listed
WideCells Group in July 2016 we have delivered on our ambition to
create an end-to-end stem cell service that transforms the way the
industry as a whole operates by making access to treatment
affordable and unrestrained by geography. With three divisions now
operational and starting to generate revenues, we are about to
embark on a new period of growth and development as we look to
build our operational reach on an international scale, increase our
client base, and ultimately transform the value profile of our
company. To achieve this, we are delighted to have completed
several planned corporate changes to ensure we are best positioned
for growth.
"We have welcomed three new board members, who bring a wealth of
corporate knowledge and experience in the insurance, medical and
financial industries, which will be invaluable to us as we target
new markets and seek new commercial agreements to facilitate the
roll-out of our stem cell services. To support this new Board, and
in line with our commitment to maintaining operational excellence
and being at the fore of our field, we have also created a new
Scientific Advisory Committee, which brings together some of the
best brains in stem cell technology and regenerative medicine. The
committee's unrivalled knowledge and prestigious network of
contacts will I believe provide us with a number of exciting growth
opportunities.
"Whilst we are delighted to welcome new team members, we are sad
to say goodbye to Graham Hine, who has retired from his Board role.
We are incredibly grateful for the commitment he has shown our
company and wish him the best in his future endeavours.
"Finally, we are delighted to be working with WG Partners, a
leading specialist player in the life sciences sector, with a
proven track record of raising the institutional profile of its
clients. We very much look forward to working with WG Partners,
together with our new Board and Scientific Advisory Committee to
maximise the future opportunities ahead."
Further Information
Mr. Peter Presland, aged 67, has held the following
directorships or partnerships in the past 5 years.
Current Directorships Past Directorships
------------------------ --------------------------------------------
Redx Pharma plc East Kent Hospitals University Foundation
NHS Trust
------------------------ --------------------------------------------
Beautiful Information John Holman & Sons Limited
Limited
------------------------ --------------------------------------------
GB Advisory Limited Safe Computing Limited
t/a R & B Underwriting
------------------------ --------------------------------------------
Mainvalley Limited Safe Emcom Services Limited
------------------------ --------------------------------------------
Rookhill Limited Saber Analytics Limited
------------------------ --------------------------------------------
Clausegate Limited SCH 2014 Limited
------------------------ --------------------------------------------
Intersoftware Recruitment Solutions Limited
------------------------ --------------------------------------------
AHL Management Limited
------------------------ --------------------------------------------
Topaz Support and Maintenance Limited
------------------------ --------------------------------------------
Topaz Computer Systems Limited
------------------------ --------------------------------------------
Safe Computing Holdings Limited
------------------------ --------------------------------------------
Xuper Limited
------------------------ --------------------------------------------
Total Objects Limited
------------------------ --------------------------------------------
Mr. Presland holds no securities in WideCells Group.
Except as disclosed in this announcement, neither the Company or
Mr. Presland are aware of any further disclosures that are required
in respect of the appointment of Mr. Peter Presland under Listing
Rules 9.6.11 and 9.6.13.
Mr. Malcolm Glaister, aged 49, has held the following
directorships or partnerships in the past 5 years.
Current Directorships Past Directorships
----------------------------- -------------------
FSPartners LLP None
----------------------------- -------------------
Farm Street LLP
----------------------------- -------------------
Eight Great Technologies
GP Limited
----------------------------- -------------------
8GT Partners Limited
----------------------------- -------------------
Deer Creek Services Limited
----------------------------- -------------------
Willant Trust Limited
----------------------------- -------------------
Base Security Solutions
Limited
----------------------------- -------------------
Ramster Smokehouse Limited
----------------------------- -------------------
Ramsnest Community Broadband
Limited
----------------------------- -------------------
Trinitas Services Limited
----------------------------- -------------------
Trinity House Events
Limited
----------------------------- -------------------
Ramster Smokehouse Limited
----------------------------- -------------------
Sirius Constellation
Ltd
----------------------------- -------------------
The Maiden CT Company
----------------------------- -------------------
Farm Street Partners
Ltd
----------------------------- -------------------
Mr. Glaister holds no securities in WideCells Group.
Except as disclosed in this announcement, neither the Company or
Mr. Glaister are aware of any further disclosures that are required
in respect of the appointment of Mr. Malcolm Glaister under Listing
Rules 9.6.11 and 9.6.13
Mr. Zakaria Aziz, aged 50, has held the following directorships
or partnerships in the past 5 years.
Current Directorships Past Directorships
--------------------------- -------------------
Warisan Wira Services None
--------------------------- -------------------
Terratech Earth Solutions
--------------------------- -------------------
White Apex Trading Limited
--------------------------- -------------------
Aquamarine Investment
Partners
--------------------------- -------------------
Bell Holding Limited
--------------------------- -------------------
Euro Poles Middle East
LLC
--------------------------- -------------------
RAY Group of Companies
--------------------------- -------------------
Bell Aziz Holding Limited
--------------------------- -------------------
Mr. Aziz holds no securities in WideCells Group.
Except as disclosed in this announcement, neither the Company or
Mr. Aziz are aware of any further disclosures that are required in
respect of the appointment of Mr. Zakaria Aziz under Listing Rules
9.6.11 and 9.6.13
**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 Limited & Rupert Williams 20 3651 2912
------------------- ------------------------- ----------------
Shard Capital Broker - Damon Heath Tel: +44 (0)
Partners LLP & Erik Woolgar 20 7186 9950
------------------- ------------------------- ----------------
WG Partners Broker - David Wilson, Tel: +44 (0)203
LLP Claes Spång and 705 9320
Andrew Craig
------------------- ------------------------- ----------------
St Brides Partners PR - Charlotte Page Tel: +44 (0)
Limited & 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 cord blood.
-- 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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