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WideCells moves a step closer to becoming an end-to-end stem cell service company following green light from UK regulator

The official approval allows the group, under its brand name BabyCells, to offer umbilical cord blood and tissue storage services to clients in the UK and Europe
man at a micrscope
The company owns a state-of-the-art storage facility in Manchester

WideCells Group PLC (LON:WDC) has taken a “significant step” towards becoming an end-to-end stem cell service company, according to chief executive João Andrade.

His comments followed the grant of a licence by the UK's Human Tissue Authority, which allows the company import, export, process, store and distribute for treatment umbilical cord blood and tissue.

WATCH: All WideCells divisions to start generating revenues after UK regulator approval

What in practice this official sanction does is allow the group, under its brand name BabyCells, to offer umbilical cord blood and tissue storage services to clients in the UK and Europe.

BabyCells service 

The company said the BabyCells service will be charged at around £2,000 per sample for one year's storage, with recurring storage revenues priced at £50-£75 a year thereafter.

Clients will be offered one year's stem cell insurance cover provided by the firm’s CellPlan division,” said CEO Andrade.

“This licence enables us to leverage further our significant industry contacts and market presence to position our state-of-the-art facility in Manchester as a leading stem cell storage bank.

“The group is now positioned to focus on revenue generation from all three of our divisions."

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