WideCells Group PLC Granted Innovate UK KTP for Stem Cell Research (0563I)
19 March 2018 - 6:00PM
UK Regulatory
TIDMWDC
RNS Number : 0563I
WideCells Group PLC
19 March 2018
19 March 2018
WideCells Group PLC ('WideCells Group' or 'the Group')
Granted Government-Backed Innovate UK Knowledge Transfer
Partnership for Stem Cell Research
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 its 100% owned stem
cell storage and research division, WideCells Ltd, has been granted
a government-backed Innovate UK Knowledge Transfer Partnership with
Manchester Metropolitan University (MMU) to undertake research on a
new form of stem cell technology. As part of this three-year
research project, Innovate UK will provide GBP156,000 worth of
funding towards a total project cost of GBP234,000.
The new technology allows specialised adult cells such as skin
cells to be genetically reprogrammed to assume a stem cell-like
state and accordingly be used in stem cell treatment and in the
study of disease. These stem cells, known as induced pluripotent
stem cells (iPSCs), could revolutionise the stem cell industry by
making stem cells, and subsequently stem cell treatments, much more
accessible. Following the research project, WideCells hope to have
advanced iPSCs to a point of commercialisation so that the
technology can be included in the Group's end-to-end stem cell
service offering.
Testament to the pioneering nature and potential value of the
research project is the support received from Innovate UK, a
government-backed public body that is committed to driving growth
by working with companies to de-risk, enable and support
innovation, particularly science and technology developments that
it believes will drive future economic growth. Out of the 33
proposals that were chosen to be supported by Innovate UK,
WideCells and MMU's project was ranked fifth. Innovate UK will
provide GBP52,000 per annum in funding for the three-year project
and WideCells Group will provide GBP26,000 per annum.
A post-doctoral scientist will be employed and based in
WideCells facilities in Manchester to carry out the research under
the supervision of Professor Peter Hollands, WideCells Group Chief
Scientific Officer, who is a leading figure in the global stem cell
industry, and Professor Tristan McKay from MMU.
WideCells Group CEO, João Andrade, said, "The granting of this
government-backed Innovate UK Knowledge Transfer Partnership is
testament to the quality of our research work and the leading role
we're playing in the stem cell industry. By supporting the
continued development of the industry, we help to ensure that our
end-to-end stem cell service, which includes our unique stem cell
insurance product, Cellplan, remains relevant to the market."
**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
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Smaller Company Broker - Jeremy Woodgate Tel: +44 (0)
Capital Limited & Rupert Williams 20 3651 2912
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Shard Capital Broker - Damon Heath Tel: +44 (0)
Partners LLP & Erik Woolgar 20 7186 9950
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WG Partners Broker - David Wilson, Tel: +44 (0)203
LLP Claes Spång and 705 9320
Andrew Craig
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St Brides Partners PR - Charlotte Page Tel: +44 (0)
Limited & Isabel de Salis 20 7236 1177
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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 focus on stem cell research and regenerative medicine.
WideCells also has international cryogenics divisions specialising
in stem cell storage.
-- 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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