Business
Partner Secured to Expand into MENA & Asia-Pacific
Partner Secured to Expand into MENA & Asia-Pacific.
About this update from Iconic Labs Plc
[{"type":"text","content":"\n \nRNS Number : 2510T WideCells Group PLC 11 October 2017 \n\n11 October 2017\nWideCells Group PLC ('WideCells Group' or 'the Group')\n \nStrategic Partner Secured to Expand into\nThe Middle East, North Africa and Asia-Pacific Territories\n \nWideCells Group PLC, the healthcare services company focused on providing stem cell services and ground-breaking insurance for stem cell treatment, is pleased to announce that it has signed an exclusive Heads of Terms agreement with multi-sector advisory business White Apex General Trading ('White Apex'), to sell and promote the Group's stem cell services in the Middle East and North Africa ('MENA') and Asia-Pacific (excluding China) territories (the 'Territories'). \n \nOverview\n· Expansion into the Territories through exclusive strategic partnership with White Apex\n· Initial three-year binding agreement expected to be secured by 31 October 2017\n· Payment of £255,000 will follow completion of the formal agreement with recurring revenues to be generated thereafter\n· White Apex has option to require WideCells to develop Wideacademy in MENA, upon payment of additional £250,000, prior to 31 December 2017\n· Deal highlights global roll-out potential through securing worldwide commercial partners \n· Services to be promoted and sold across all three WideCells Group divisions \n· New office to be established in Dubai headed by Dr Ahmed Alawi, a preeminent doctor in the stem cell sector\n \nWideCells Group CEO, João Andrade, said, \"This agreement is an historic achievement. Not only is this the strongest strategic deal we have secured to date, but it marks our move into a significant new region: MENA and Asia-Pacific. Crucially, revenues are expected to commence by the end of this year, with £255,000 to be paid following signing of the binding agreement, which is anticipated by 31 October 2017, and further revenues expected to follow in the near term with at least £250,000 targeted before the end of the year and similar numbers targeted year on year thereafter. These figures will gain even more traction as we continue our expansion strategy and increase our global profil...