TIDMWDC
RNS Number : 3039G
WideCells Group PLC
05 August 2016
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5 August 2016
WideCells Group PLC ('WideCells Group' or 'the Group')
Update on Manchester Facility and Appointments
WideCells Group, the healthcare services company focused on
collecting and storing stem cells and providing ground breaking
insurance for stem cell treatment, is pleased to announce that
WideCells, a fully owned division of the Group, is making rapid
progress in establishing its state of the art, stem cell laboratory
based at the University of Manchester Innovation Centre (UMIC).
Upon completion, the laboratory will be the Group's first stem cell
storage facility in the UK, cementing its expansion into the
European stem cell storage market.
Highlights:
-- UMIC to offer stem cell retrieval, processing and storage
services to the public - the average cost to the consumer is
expected to be in the region of GBP2,000
-- Facility to include two clean rooms that will be used for
stem cell processing, and a large room which will be used for
freezing and storing a range of human tissues in cryopreservation
conditions
-- Existing clean room facilities are currently being upgraded
to comply with WideCell's high standards and orders have been
placed for key laboratory equipment
-- Initiating process to obtain a Human Tissue Authority ('HTA')
licence for the procurement, processing, storage and release for
transplantation of cord blood and cord tissue stem cells, which
will enable the facility to become operational
o As part of this process, all equipment and procedures will be
validated in preparation for HTA inspection
-- Developing Quality Management Systems for the laboratory to
ensure all stem cells are processed to the highest standards in
quality and safety
-- Looking to appoint key new Manchester-based personnel to
assist in next stage of Group's development:
o Lab manager to oversee and manage work at UMIC
o Marketing Manager to support the Group's sales and marketing
strategy, including the roll-out of its innovative stem cell
insurance plan, CellPlan
o Accounting Manager to oversee all Group operations
-- Official opening of UMIC targeted for H1 2017
-- UMIC facility further strengthens WideCells' established stem
cell collection, cryopreservation and storage services - the
company recently established a third party blood bank / storage
facility in Brazil and also have on-going operations in Portugal
and Spain with third party blood banks
WideCells Group CEO Joao Andrade said, "We are delighted with
the progress we have made in establishing of our first cord blood
storage facility in the UK. This facility not only marks our
expansion into a new market, but is a further link in our fully
integrated service offering as we look to broaden access to and
combat the financial barriers associated with stem cell treatment.
Having recently listed on the London Stock Exchange and established
CellPlan, a first of its kind insurance plan which provides
financial cover for stem cell treatment, our cord blood banks and
stem cell storage facilities form the first link in stem cell
treatment by ensuring the safe storage of stem cell samples.
"Currently over 3 million people worldwide have paid c. GBP2,000
to store stem cells, which can be used to treat many
life-restricting illnesses such as cancers and MS. There has been a
300% increase in the number of illnesses that can be treated using
stem cells since 2003 and we expect storage demand to continue to
rise in line with this. By establishing a global portfolio of
storage facilities and forming strategic partnerships with
established cord blood banks and storage providers, we hope to be
able to support this demand.
"With operations progressing well in both Sao Paulo, Brazil and
Manchester and the imminent appointment of new team members that
will be central to our growth, we are excited to move into the next
phase of the Group's development and look forward to updating the
market in due course."
**ENDS**
For further information, please visit the Company's website
www.widecellsgroup.com, follow us on Twitter @WideCells_Group or
contact:
WideCells Group CEO - Joao 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 Heap 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: a portfolio of best in class stem cell processing
and cord blood storage facilities with an existing presence in UK
and Brazil
-- 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 information is provided by RNS
The company news service from the London Stock Exchange
END
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