Celularity and CH Trading Group Announce Territory Distribution Agreement for the Middle East
CH Trading Group will serve as exclusive territories distributor in 100-plus countries with US $225 million minimum purchase commitment
Relationship opens access to Celularity's Halal-Certified regenerative biomaterial, health and wellness products across the Middle East and the broader Islamic world
FLORHAM PARK, N.J., RIYADH, Saudi Arabia and JEDDAH, Saudi Arabia, Jan. 11, 2023 /PRNewswire/ -- Celularity Inc. (Nasdaq: CELU) ("Celularity"), a U.S.-based biotechnology company developing placental-derived allogenic cell therapies and biomaterial products, and CH Trading Group LLC ("CH Trading Group"), an international import, export and trading company, today announced that they have entered into an exclusive territory distribution agreement. CH Trading Group will act as the exclusive territories distributor of Celularity's previously announced Halal-Certified products within more than 100 countries. The Product Distribution Agreement for Celularity's Halal-Certified products provides for a five-year minimum aggregate purchase commitment of US $225 million dollars.
"Based on market demand for Celularity's commercial biomaterial products, we believe there is a billion-dollar commercial opportunity across the Middle East North Africa Islamic markets," said Sayed Zayan, CEO of CH Trading Group. "We are excited to be in a position to expand access to these important medicines and wellness products to more people across the region through our exclusive territories distributor agreement with Celularity."
According to the most recent analysis by Emergent Research, the worldwide regenerative medicine market totaled US $9.80 billion in 2021, and is anticipated to grow at a revenue compounded annual growth rate of 15.9 percent, reaching US $37.10 billion in 2030.
Through the agreement, CH Trading Group will distribute to more than 100 countries that are members of or associated with the following intergovernmental organizations ("Islamic Markets"):
- The Organization of Islamic Cooperation, which has 57 member countries on four continents;
- The Gulf Cooperation Council, comprised of Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates; and
- The African Union, which has 55 member countries.
"Our partnership with the CH Group represents another critical milestone towards bringing our innovative Halal-Certified – under globally recognized Circle H International Inc. standards – regenerative biomaterial products to treat degenerative disease across Islamic Markets," said Celularity's CEO, Chairman and Founder, Robert J. Hariri, M.D., Ph.D.
Celularity's suite of biomaterial products include:
- Biovance®, a decellularized, dehydrated human amniotic membrane derived from the placenta of a healthy, full-term pregnancy. Biovance® is an intact, extracellular matrix structure that is indicated for use in the United States as a natural scaffold to support the body's wound healing process.
- Biovance® 3L and Biovance® 3L Ocular, tri-layer human amniotic membrane products focused on the surgical and ocular markets and available in both sheet and disk form.
- Interfyl®, a human connective tissue matrix derived from the placenta of a healthy, full-term pregnancy. It is indicated for use in the United States to replace or supplement damaged or inadequate integumental tissue resulting from wounds, trauma, or surgery.
- CentaFlex®, a decellularized human placental matrix derived from the umbilical cord that is indicated for use in the United States as a surgical covering, wrap or barrier to protect and support the repair of damaged tissue.
About Celularity
Celularity Inc. (Nasdaq: CELU) headquartered in Florham Park, N.J., is a U.S.-based biotechnology company leading the next evolution in cellular medicine by developing allogeneic cryopreserved off-the-shelf placental-derived cell therapies, including therapeutic programs using unmodified natural killer (NK) cells, genetically modified NK cells, T-cells engineered with a CAR (CAR-T cells), and mesenchymal-like adherent stromal cells (MLASCs). These therapeutic programs target indications in cancer, infectious and degenerative diseases. In addition, Celularity develops and manufactures innovative biomaterials also derived from the postpartum placenta. Celularity believes that by harnessing the placenta's unique biology and ready availability, it can develop therapeutic solutions that address significant unmet global needs for effective, accessible, and affordable therapies.
To learn more, visit www.celularity.com.
About CH Trading Group
CH Trading Group LLC ("CH Trading") is part of the CH Group family of companies (www.chgroupus.com). CH Group constitutes a diversified conglomerate targeting eight economic "Sectors": healthcare, pharmaceuticals, food, finance, cosmetics, tourism, fashion, media/entertainment. Spanning a variety of multi-national products, services and solutions, its world mission involves connecting, developing and promoting, from Local to Global™ and throughout the world, all aspects of a wholesome, healthy and productive lifestyle.
CH Trading focuses on international import/export and trade, prioritizing the countries of the Organization of Islamic Cooperation (OIC), as well as the Middle East and North Africa (MENA) and Gulf Cooperation Council (GCC) Regions. It has responded to worldwide demands for identifying and securing supply chains by introducing innovative products, including from the US, and developing a robust distribution network for goods.
To learn more, visit www.chgroupus.com
Celularity Forward-Looking Statements
This press release includes "forward-looking statements" within the meaning of The Private Securities Litigation Reform Act of 1995, as well as within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical facts are "forward-looking statements," including those relating to future events. In some cases, you can identify forward-looking statements by terminology such as "anticipate," "believe," "can," "contemplate," "continue," "could," "estimate," "expect," "forecast," "intends," "may," "might," "outlook," "plan," "possible," "potential," "predict," "project," "seek," "should," "strive," "target," "will," "would" and the negative of terms like these or other comparable terminology, and other words or terms of similar meaning. The forward-looking statements in this press release include express or implied statements regarding the market opportunity for Celularity's products; growth in the worldwide regenerative biomaterial market; timing of receipt of approvals from regulatory authorities; Celularity's ability to establish a presence and operate in Saudi Arabia and Islamic Markets, develop opportunities for commercial stage regenerative biomaterial products and investigational products in Saudi Arabia, Islamic Markets and broader global markets, as well as establish its biobanking business in Saudi Arabia and Islamic Markets, among others. Many factors could cause actual results to differ materially from those described in these forward-looking statements, including but not limited to: the inherent risks in biotechnological development, including with respect to the development of novel cellular therapies, and the clinical trial and regulatory approval process; and risks associated with Celularity's current liquidity, as well as developments relating to Celularity's competitors and industry, along with those risk factors set forth under the caption "Risk Factors" in Celularity's annual report on Form 10-K filed with the Securities and Exchange Commission (SEC) on March 31, 2022, as amended on July 15, 2022, and other filings with the SEC. These risks and uncertainties may be amplified by current economic situations, including inflation, supply chain issues and overall economic uncertainty. If any of these risks materialize or underlying assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that Celularity does not presently know, or that Celularity currently believes are immaterial, that could also cause actual results to differ from those contained in the forward-looking statements. In addition, these forward-looking statements reflect Celularity's current expectations, plans, or forecasts of future events and views as of the date of this communication. Subsequent events and developments could cause assessments to change. Accordingly, forward-looking statements should not be relied upon as representing Celularity's views as of any subsequent date, and Celularity undertakes no obligation to update forward-looking statements to reflect events or circumstances after the date hereof, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws.
Media Contact
Celularity:
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Simon Hailes
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Investor Relations Contact
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SOURCE Celularity
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