Research Licence Granted from HTA

RNS Number : 5077M

WideCells Group PLC

31 July 2017

 

31 July 2017

WideCells Group PLC ('WideCells Group' or 'the Group')

Research Licence Granted from the Human Tissue Authority (HTA)

WideCells Group PLC (WDC : LSE), the healthcare services company focused on regenerative medicine including the provision of stem cell services and ground-breaking insurance for stem cell treatment, is delighted to announce that its dedicated research facility, WideCells Institute of Stem Cell Technology (ISCT), has been granted a Research Licence (the 'Licence') from the UK's Human Tissue Authority ('HTA').  This Licence, Number 12669, enables the Company to proceed with cutting edge stem cell research at its base in Manchester and build on its position as a leading international innovator in the stem cell arena.

In conjunction with the granting of the Licence, the Company has already entered into corporate agreements with international companies wishing to collaborate with the team.  Positioning the Company as one of the world leaders in stem cell research, initial research projects will include:

·     A one-year project funded by world leading biotechnology company Qigenix, which has developed a medical laser shown in pilot studies to activate stem cells and enable them to produce even better and faster results in recipient patients.  The research in the WideCells ISCT will be to attempt to  fully understand the laser stem cell activation process which will enable the technology to be used more widely for an increasing number of patients.  Californian based Qigenix will pay £100,000 for the research

·     In house research to develop new technology using WideCells' artificial bone product INDUS, together with mesenchymal stem cells to enable significantly faster bone formation.  This will be a major advantage to both dentists and orthopaedic surgeons who need to restore bones in their patients

·     Other collaborative research projects are in the final stages of discussion and will be announced in due course

WideCells Limited, which established the WideCells ISCT, is the 100% owned subsidiary of the Group which provides storage and research facilities in the University of Manchester Innovation Centre.  It is led by Dr Peter Hollands, Group Chief Scientific Officer, who is a Clinical Scientist from Cambridge University with over 30 years' experience in stem cell technology in teaching, research and clinical practice.  The WideCells ISCT comprises of two Grade B clean rooms, one of which is dedicated to research, and a Cryogenics section in which there is the storage potential for over 500,000 stem cell products, with space for future expansion. 

WideCells Group CEO, João Andrade, said, "This licence opens up yet another dimension for us as we continue to work at the forefront of the stem cell industry in expanding our research division.  We recently launched our innovative INDUS product, a new artificial bone material which targets the dental market; however now with this licence in place, we can expand our innovative research across a wider field.  Our research division will now be in a revenue generative position, alongside CellPlan our medical insurance product, thereby strengthening our overall financial position.  I am delighted with the position of the Company at it stands, and I look forward to providing further news in the near term on our rapid development and product roll out."

WideCells Group CSO, Dr Peter Hollands, said, "Research is a key activity in the WideCells ISCT which will enable us to create novel stem cell treatments for patients, develop patents of technology and generate significant income. We will also contribute to the wider knowledge on stem cell technology by publishing data in medical journals and presenting our findings  at medical conferences.  These are extremely exciting times for stem cell technology and we are proud to be at the forefront of both innovation and development." 

**ENDS**

For further information, please visit the Company's website www.widecellsgroup.com, follow us on Twitter @WideCells_Group or contact:

WideCells Group	CEO - João Andrade	Tel:  [phone]
Smaller Company Capital Ltd	Broker - Jeremy Woodgate & Rupert Williams	Tel: [phone]
Shard Capital Partners LLP	Broker - Damon Heath & Erik Woolgar	Tel: [phone]
St Brides Partners Ltd	PR - Charlotte Page & Olivia Vita	Tel: [phone]

Notes to Editors

WideCells Group PLC is building an integrated stem cell services company, focused on making stem cell treatments accessible and affordable.  In June 2017, the Group was ranked as the 21st most disruptive company globally by DISRUPT 100, an annual index celebrating the businesses with the most potential to influence, change or create new global markets.

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: 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: 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 £thousand, actual treatment can cost in the £hundreds of thousands

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 (MAR).

 

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