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

Widecells in tie-up with Cali-based medical device group

The partnership could be worth up to £100,000 for Widecells and adds another revenue stream for Widecells
stem cell under a microscope
Widecells is primarily focused on making stem cell treatment more accessible and affordable

Stem cell specialist Widecells Group PLC (LON:WDC) has inked a letter of intent with a California-based medical device company that could be worth up to £100,000.

Qigenix has agreed to pay the sum in three stages so it can use Widecell’s Institute of Stem Cell Technology (ISCT) in Manchester to undertake some research.

“We established the Institute of Stem Cell Technology in order to create a stem cell processing and storage facility in the UK,” said chief executive João Andrade.

“Whilst we continue to make excellent progress in this regard we are delighted to have identified a second potential revenue stream from this facility.” 

An upfront payment of £25,000 is binding under the LOI and will be paid before the year is up, while the remaining £75,000 will be paid in two instalments, with final payment due when the research project is completed, schedule to be in the second quarter of 2018.

The two parties are aiming to sign a definitive, binding agreement before 1 March 2017.

In order for the research to be carried out at the ISCT, Widecells has had to apply to the Human Tissue Authority for a Human Application Licence.

The research project is planned to begin in the first half of 2017, the same timeframe in which Widecells expects its ISCT to become operational.

View full WDC profile View Profile

WideCells Group Timeline

Related Articles

cholesterol on a dial
September 24 2018
"The formation of ProBiotix Health and appointment of Adam Reynolds as chairman continues a successful strategy of building value in each division which is materialised by forming separate legal entities and taking them to a public listing,” said chief executive Stephen O’Hara
Proton Therapy sign
October 10 2018
The broker says the cancer treatment developer could potentially take the entire share of the growth market from ageing cyclotron companies
November 29 2017
The company has developed a "unique and superior pressure" cycling technology (PCT), says Zacks.

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