Business
Revenue generation with White Apex agreement
Revenue generation with White Apex agreement.
About this update from Iconic Labs Plc
[{"type":"text","content":"\n \nRNS Number : 3279V WideCells Group PLC 02 November 2017 \n\n2 November 2017\nWideCells Group PLC ('WideCells Group' or 'the Group')\n \nRevenue generation commences with milestone binding agreement with White Apex:\nstem cell services available for purchase in the 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 further to the announcement released on 11 October 2017, it has signed binding five-year agreements with multi-sector advisory business White Apex General Trading ('White Apex'), effective 31 October 2017. Accordingly, the Group's end-to-end stem cell services are now available for purchase and being promoted in the Middle East and North Africa (including Turkey) ('MENA') and Asia-Pacific (excluding China) territories (the 'Territories'). \n \nOverview\n· Binding agreement with White Apex to transform revenue and value potential of WideCells Group \n· £255,000 payable to WideCells Group immediately - for 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\n· Multi-million pound recurring revenues expected from all three divisions:\no CellPlan - sale of innovative stem cell insurance product\no WideCells - sale of stem cell storage and INDUS synthetic bone products\no Wideacademy - sale of subscriptions to the educational platform (2,000 doctors already subscribed) and educational / training accreditation \n· Further £1,500,000 potentially payable for the adaptation of Wideacademy's innovative educational platform for use in MENA and Asia-Pacific regions:\no £250,000 potentially to be paid by the end of the year, to be followed by two additional payments of £250,000 due for the next two years thereafter, for MENA adaptation\no £250,000 potentially to be paid the end of Q1 2018, to be followed by two additional payments of up to £250,000 due for the next two years thereafter, for Asia-Pacific adaptation \n· Established a regional office in Duba...