WideCells Group – New product
WideCells Group PLC, 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 become a licenced provider of INDUS, a novel synthetic bone graft which promotes new bone formation.
The Group intends to start selling this new product in the UK in the coming months, initially targeting the dental industry, with potential for further roll out internationally.
In line with the Group's strategy to support the uptake of innovative, regenerative medicine technology, WideCells Group, through its fully owned subsidiary WideCells Ltd ('WideCells'), has secured a licence agreement with Medbone® - Medical Devices Lda ('Medbone'), which has developed and manufactures INDUS. The product has just received CE Marking, meaning it complies with the essential requirements of the relevant European health, safety and environmental protection legislation, meaning that it is approved for sale across Europe. Whilst the Group will initially target the UK market, WideCells hope to expand its service offering globally in time.
Alongside offering INDUS to clients in the UK, the Group intends to undertake research in the future at its Institute of Stem Cell Technology in Manchester, England, to examine the potential of using stem cells alongside synthetic bone graft treatments to accelerate the new bone formation process. Initial studies undertaken to date have shown promising results that when bone grafts and stem cells are used together the recovery process may be greatly improved.
There are two primary INDUS products, which WideCells will offer alongside its range of complementary stem cell services:
· INDUS TCP, a porous synthetic ceramic containing tricalcium phosphate, designed for the filling of bone voids or defects. The interconnected porosity allows partial or total resorption so that it is replaced by new bone during healing.
· INDUS BCP, a porous synthetic ceramic, containing 75% hydroxyapatite and 25% tricalcium phosphate, designed for the filling of bone defects. The biphasic composition enhances the ceramic substitution in a two-phase process allowing an optimal resorption rate compatible with the bone physiology.
Current applications of INDUS primarily relate to the dental market; uses include filling extraction cavities, sinus floor elevation, alveolar (bony socket for the root of a tooth) filling, augmentation and regeneration, dental implants and the reconstruction of tumour voids and cyst defects. There is however significant potential for use within orthopaedic surgeries, which WideCells intends to explore in due course as the benefits of using INDUS are significant for both healthcare professionals and patients; there is an unlimited supply; there is no risk of transmitting disease, rejection or infection; the product has a long-life span, and; surgery time for fitting is reduced compared to alternative bone graft products currently being used.
WideCells Group CEO, João Andrade, said, "At WideCells our vision is to provide regenerative therapy that promotes the next stages of medical development. We have had great success to date in making stem cell treatments more accessible and affordable globally and whilst this remains our primary focus, having recognised significant, complementary growth opportunities within the dental industry, we are delighted to add a new product offering and revenue stream to our portfolio.
"Supporting our progression into the dental industry is our non-executive director Dr. Marilyn Orcharton, a qualified dentist who has received a medal of Honour from the British Dental Association and co-founded Denplan Limited, the UK's market leader in dental insurance. Marilyn's established network and experience will be invaluable in helping us build this new and emerging revenue stream. Now is an incredibly exciting time to be in regenerative therapy."
WideCells Group CSO, Dr Peter Hollands, said, "INDUS is the next generation in bone material; it is the most advanced regenerative synthetic bone material in the market and has already been clinically proven to offer a number of advantages compared to current bone graft products being used. Furthermore, with the potential for stem cell technologies to advance this product further, we believe INDUS is set to become the number one choice for dental healthcare professionals."
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).