WideCells Group PLC Extends CellPlan Roll Out & New Product Launch (9021U)

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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 
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 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

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January 24, 2017 02:00 ET (07:00 GMT)