Healthcare innovator WideCells Group plc has today been awarded a transformational licence from the UK’s Human Tissue Authority, which enables the Group to offer umbilical cord blood and tissue storage services to clients in the UK and Europe in its state of the art facilities at the Institute of Stem Cell Technology in Manchester, UK.
The service, which will be known as BabyCells, will be charged at a cost of circa £2,000 per sample for one year’s storage (including collection and processing), with recurring storage revenues of £50-£75 per annum thereafter and alternative multi-year pre-paid storage plans. Stem cell treatment has significant life-saving potential with cord blood (which is taken from the umbilical cord) providing the most effective source of stem cells as it is simple, safe and painless to collect, relative to other sources of stem cells such as bone marrow. Since 2005, there has been a 300% increase in the number of illnesses that can be treated using stem cells with 82 illnesses currently treatable using stem cell procedures.
WideCells Group CEO, João Andrade, said, "The granting of this licence from the HTA marks a significant step in the Group’s end-to-end stem cell service solution. WideCells Group can now store and process umbilical cord blood and tissue, provide financial cover and support for associated treatment through our innovative CellPlan insurance product, and support development and medical advancement within the industry through both our research work, and our education and training division Wideacademy. This licence enables us to leverage further our significant industry contacts and market presence to position our state of the art facility in Manchester as a leading stem cell storage bank. The Group is now positioned to focus on revenue generation from all three of our divisions."