Business
Celularity Announces Agreement with AD Ports Group for Exclusive Product Distribution in Various Territories in the GCC and Egypt
AD Ports Logistics, subsidiary of AD Ports Group's Logistics Cluster, chosen as the Exclusive Distributor for UAE, Qatar, Bahrain, Oman, Kuwait and Egypt
About this update from Celularity Inc.
[{"type":"text","content":"AD Ports Logistics, subsidiary of AD Ports Group's Logistics Cluster, chosen as the Exclusive Distributor for UAE, Qatar, Bahrain, Oman, Kuwait and Egypt\nProduct distribution agreement opens access to Celularity's Halal-Certified regenerative medicines, health and wellness products across the Middle East\nNews follows the previously-announced Product Distribution Agreement for the Kingdom of Saudi Arabia \nFLORHAM PARK, N.J, RIYADH, Saudi Arabia and ABU DHABI, UAE, March 28, 2023 /PRNewswire/ -- Celularity Inc. (Nasdaq: CELU) (\"Celularity\"), a biotechnology company developing placental-derived allogenic cell therapies and biomaterial products announces that it has entered into an exclusive distribution agreement with AD Ports Logistics (ADPL), a subsidiary of the Logistics Cluster, AD Ports Group, the leading global facilitator of trade, logistics and industry based in Abu Dhabi (ADPORTS:ADX). In partnership with CH Trading Group LLC (\"CH Trading Group\"), an international import, export and trading company and the exclusive territories distributor of Celularity's previously-announced Halal-Certified regenerative medicine products within more than 100 countries, ADPL will distribute the Celularity's biomaterial products in the United Arab Emirates, Qatar, Bahrain, Oman, Kuwait and Egypt.\n\n \n \n \n \n \n \n\n \nAccording to the most recent analysis by Emergent Research, the worldwide regenerative medicine market was US $9.80 billion in 2021 and is anticipated to grow at a revenue CAGR of 15.9% to reach US $37.10 billion in 2030.\nFarook Al Zeer, Chairman, Logistics Cluster, AD Ports Group, said: \"We are pleased to work with Celularity to expand access to these innovative products within the UAE and the region by leveraging our advanced GDP-certified pharma logistics network and the unique capabilities of our Healthcare & Life Sciences Team. Becoming the distributor of choice for Celularity's biomaterial products is yet another example of how we are working with our industry partners to ensure that our communities across the nation can receive access to the best and most innovative healthcare products possible. We believe that collaborative partnerships such as these will play a significant role in helping deliver on our leadership's vision of establishing Abu Dhabi as a hub for global healthcare and life science excellenc...