WideCells Signs Agreement With Cryoviva To Sell CellPlan In Asia

26th Mar 2018 15:18

LONDON (Alliance News) - WideCells Group PLC said on Monday it has signed an agreement with Cryoviva Group to sell its stem-cell insurance product, CellPlan, in Asia.

Cryoviva is a cord blood storage facility with operations in Thailand, Singapore and India. The agreement provides CellPlan with exposure to a new geography, WideCells said, building upon recent contracts in Europe and South America.

CellPlan will be launched to Cryoviva customers on a phased basis, commencing in the second half of 2018, providing staged revenue increases.

"This strategic agreement with Cryoviva will enable us to launch CellPlan in one of the fastest growing stem cell markets where there is clear demand for stem cell services. By implementing a staged roll-out model, we are able to ensure the stable growth of our operations in each country and provide a solid base for continued growth," said WideCells Chief Executive Joao Andrade.

Shares in WideCells were up 0.6% at 11.37 pence on Monday.

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