Sign up United Kingdom
Proactive Investors - Run By Investors For Investors

WideCells Group formally inks revenue generating overseas deal

First announced on October 11, the binding agreement with White Apex General Trading formally came into effect on Tuesday
Doctor with shot
The agreement takes the company's unique stem cell offering to the Middle East, North Africa and Asia

The stem cell specialist WideCells Group plc said it has concluded a revenue-generating deal that will see its unique services sold in the Middle East, North Africa and Asia.

First announced on October 11, the binding agreement with White Apex General Trading formally came into effect on Tuesday (Oct 31).

READ: WideCells ready to ink deal that expands its reach to the Middle East, Africa and Asia-Pacific

It triggers the immediate payment of £255,000 to the London-listed company to cover the initial set up of stem cell collection and dispatch services, and Wideacademy, which provides education and training for doctors.

Recurring revenues expected

A further £1.5mln is potentially payable for the adaptation of Wideacademy's platform for use in the Middle East, North Africa and Asia-Pacific regions.

The firm also expects “multi-million pound” recurring revenue from three key sources: CellPlan, its stem cell insurance product; storage and its synthetic bone product and the Wideacademy.

“Stem cells are revolutionising the medical world, and as we build our global reach we are also able to promote and support the development of this rapidly growing area of medicine so that more and more people can benefit from and have access to this potentially life-saving treatment,” said Widecells chief executive João Andrade.

"White Apex make the perfect partner for us.  Thanks to their unrivalled regional experience and connections within the MENA and Asia-Pacific territories, we are able to rapidly build our global presence and commercial reach.”

View full WDC profile View Profile

WideCells Group Timeline

Related Articles

scientist looking through microscope
April 11 2018
Kumaraguru Raja sees “multiple catalysts” in the year ahead which could put a rocket under the share price
April 12 2018
Mission is to make stem cell treatments accessible and affordable to as many people as possible
myLotus kit
August 06 2018
The expansion drive is targeting an estimated 2.3mln women per year in the areas of Hebei, Shanghai, Beijing, Shangdong, Henan and Liaoning

No investment advice

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

© Proactive Investors 2018

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use