TIDMWDC
RNS Number : 2249N
WideCells Group PLC
24 October 2016
24 October 2016
WideCells Group PLC ('WideCells Group' or 'the Group' or 'the
Company')
Corporate Update
WideCells Group PLC, the healthcare services company focused on
providing stem cell banking services and ground breaking insurance
for stem cell treatment, is pleased to provide a corporate update
on the Group's strategy to make stem cell treatment affordable and
accessible for families worldwide and in turn, fuel innovation and
investment to the stem cell industry.
Key Personnel Appointments in Corporate Headquarters in
Manchester
Recognising the instrumental role a highly skilled team will
play in delivering on its strategic vision, the Group has made
additional key personnel appointments across its three core
divisions. This brings its total headcount, including at its stem
cell storage facility in São Paulo, WideCells Brasil, up to 28.
Recent hires include:
-- Matthew Lord appointed as Group Marketing Manager,
responsible for devising and implementing WideCells Group's
marketing strategy. Mathew has international experience of
delivering across core areas of the marketing mix in both B2B and
B2C and is well placed to lead the Group's marketing strategy as it
continues to expand its service-offering
-- Frances Dutton appointed as Group Accounting Manager,
bringing extensive experience in project management and management
accounting
-- Damilola Aboyeji appointed as Group Lab Manager. Damilola is
a laboratory scientist with a background in microbiology and cell
therapy research, bringing considerable experience and high-level
analysis skills to the Group
Clean Room Renovation at the WideCells Institute of Stem Cell
Technology in Manchester ('ISCT')
Work continues at the stem cell storage facility currently being
developed by the Group's WideCell's division at the University of
Manchester Innovation Centre ('UMIC'). The Group has commenced high
specification renovation work on the clean room suite, which
include two high specification clean rooms for processing human
cord blood, cord tissue, dental pulp and adipose tissue, to bring
it to gold standards.
The ISCT will provide the WideCells division with the capacity
to carry out in-house research and development and contract
research in the clean rooms, thereby stimulating research and
innovation. This research and development is a key deliverable
element of the Group's strategy.
Shareholder Letter
The Company has posted a shareholder letter on its website at
www.widecellsgroup.com.
WideCells Group CEO, João Andrade, said, "We are delighted with
the considerable progress we have made towards developing WideCells
Group over the past three months. From the outset, the Board
established that attracting the best talent would be the
cornerstone of successfully delivering on our strategy to
revolutionise and innovate the stem cell industry and following a
targeted recruitment drive, we are confident that we have secured a
highly skilled and experienced team with the requisite skillset to
make significant contributions to the Group's growth.
"The WideCells Institute of Stem Cell Technology will mark a
major milestone in WideCells division's development and as well as
providing us with a substantial revenue stream, it will enable us
to undertake in-house research, creating another key differentiator
for the enlarged Group.
"Having secured a strong team and with the positive progress we
have made, I'm looking forward to updating the market with further
developments in the coming months."
**ENDS**
For further information, please visit the Company's website
www.widecellsgroup.com, follow us on Twitter @WideCells_Group or
contact:
WideCells CEO - João Andrade Tel: +351 919
Group Plc 033 171
----------------- ------------------------- --------------
Vicarage Capital Broker - Jeremy Woodgate Tel: +44 (0)
Ltd & Rupert Williams 20 3651 2912
----------------- ------------------------- --------------
Shard Capital Broker - Damon Heath Tel: +44 (0)
Partners LLP & Erik Woolgar 207 186 9950
----------------- ------------------------- --------------
St Brides PR - Elisabeth Cowell Tel: +44 (0)
Partners Ltd & Charlotte Page 20 7236 1177
----------------- ------------------------- --------------
Notes to Editors
WideCells Group PLC is building an integrated stem cell services
company, focused on making stem cell treatments accessible and
affordable. The Directors believe that the use of cord blood stem
cells for transplant will drive one of the next important phases in
medicine and is therefore developing market leading products in
complementary, strategic areas which are designed to take advantage
of substantial market opportunities in one of the fastest growing
segments in the healthcare industry. 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: a portfolio of best in class stem cell processing
and cord blood storage facilities with an existing presence in UK
and Brazil
-- 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
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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