TIDMWDC
RNS Number : 8402I
WideCells Group PLC
26 March 2018
26 March 2018
WideCells Group PLC ('WideCells Group' or 'the Group')
Landmark deal to launch CellPlan insurance product in Asia
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
agreement with Cryoviva Group ('Cryoviva'), an established cord
blood storage facility with operations in Thailand, Singapore and
India, to sell its unique stem cell insurance product, CellPlan, in
Asia.
Highlights
-- CellPlan, the innovative stem cell insurance plan, to be
launched in Asia following agreement with Cryoviva
-- Cryoviva has established operations in Thailand, Singapore
and India, and today has almost 250,000 inspected samples stored
to-date with forecasts to store c.25,000 new samples every year
-- Agreement provides CellPlan with exposure to a new geography,
building upon recent contracts in Europe and South America
-- Provides exposure to a high growth region: the global stem
cell market is expected to register a CAGR of 13.8% from 2017 to
2025, with the Asia-Pacific market expected to grow at higher CAGR
of 14.6%
-- CellPlan will be launched to Cryoviva customers on a phased
basis, commencing in H2 2018, providing staged revenue
increases
WideCells Group CEO, João Andrade, said, "With over 250,000
clients, established operations in three countries and around
25,000 new samples being stored every year, this deal with Cryoviva
is set to transform the revenue profile of our company. Our
innovative insurance product has the potential to revolutionise the
stem cell market by making treatment much more affordable. This
strategic agreement with Cryoviva will enable us to launch CellPlan
in one of the fastest growing stem cell markets where there is
clear demand for stem cell services. By implementing a staged
roll-out model, we are able to ensure the stable growth of our
operations in each country and provide a solid base for continued
growth."
Dr. Chaitanya Nerikar, the Group CEO of Cryoviva stated, "We
strongly believe that our agreement with CellPlan will allow
Cryoviva to continue to be the premium provider of services related
to stem cell banking to its clients. Cryoviva and CellPlan intend
to jointly strive to establish an insurance product that will go
beyond its initial coverage for treatments related to cord blood
stem cells and cover other innovative therapies and treatments
using other types of stem cells, which will gradually become
acceptable by the global medical community, thus underlining
Cryoviva's commitment to be the Bank of Life, and a Lifeline for a
Lifetime to its clients."
About CellPlan
CellPlan is a completely unique and a first of its kind
insurance product that aims to transform the stem cell industry by
making stem cell treatment affordable and accessible globally.
Through an average cost of GBP170 per annum, families that have
stored their stem cells are able to protect themselves from the
often-unforeseen costs of treatment, which can be as much as
GBP300,000.
CellPlan's product offering comprises four primary services:
-- "Your Expert Consultation" service, which comprises a panel
of experts in stem cell transplantation able to review a patient's
case regardless of location and provide the right diagnosis and
treatment plan;
-- "Your Medical Certainty", which provides a comprehensive
summary of the patient's case and identifies a selection of
treatment centres where the patient can access treatment
globally;
-- "Your Global Resource", which is a medical concierge service,
whereby CellPlan handles the full treatment process, including any
travel requirements, hospital admission and transportation of the
stem cell sample, allowing patients to concentrate on getting well;
and
-- "Your Family protection", where CellPlan provides cover for
up to GBP/$/EUR1m (depending on the location) of medical, travel
and accommodation bills.
**ENDS**
For further information, please visit the Group'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 9330
Andrew Craig
------------------- ------------------------- ----------------
St Brides Partners PR - Charlotte Page Tel: +44 (0)
Limited & Isabel de Salis 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. This is achieved through three divisions:
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 provide stem cell storage services and focus on stem cell
research and regenerative medicine. Its international cryogenics
division specialises in stem cell storage, with the Group currently
offering umbilical cord blood and tissue storage services to
clients in the UK and Europe under the brand name BabyCells.
-- Wideacademy: 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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