WideCells Group, a healthcare services company focused on providing stem cell services and insurance for stem cell treatment, has signed binding five-year agreements with multi-sector advisory business White Apex General Trading.
The group's stem cell services are now available for purchase and being promoted in the Middle East and North Africa (including Turkey) and Asia Pacific (excluding China) territories.
Under the agreement, £255,000 is payable to WideCells Group immediately for the initial set up of WideCells' stem cell collection and dispatch services and sponsorship of Wideacademy subscriptions for 2,000 doctors per year for three years.
Multi-million pound recurring revenues are expected from all three divisions: insurance, stems cell storage and Wideacademy.
A further £1,500,000 is potentially payable for the adaptation of Wideacademy's educational platform for use in MENA and Asia-Pacific regions.
WideCells Group CEO Joao Andrade said: "This is a multi-million-pound deal: with £255,000 payable to us immediately and significant recurring revenues expected to commence thereafter from all three of our divisions, this sales agreement is set to transform our company."
At 8:54am: (LON:WDC) Widecells Group Plc Ord Gbp0.0025 share price was +0.38p at 13.88p