Celularity Announces Agreement with AD Ports Group for Exclusive Product Distribution in Various Territories in the Gulf Cooperation Council Regions and Egypt
AD Ports Logistics, subsidiary of AD Ports Group’s Logistics Cluster, chosen as
Product distribution agreement opens access to Celularity’s Halal-Certified regenerative medicines, health and wellness products across the Middle East
News follows the previously announced Product Distribution Agreement
FLORHAM PARK, N.J. and RIYADH, Abu Dhabi, March 28, 2023 (GLOBE NEWSWIRE) -- 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.
According 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.
Farook 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 excellence.”
“Today’s announcement highlights a significant milestone in our global expansion strategy and focus on the Middle East and North Africa market,” said Celularity’s CEO, Chairman and Founder, Robert J. Hariri, M.D., Ph.D. “We are proud to partner with AD Ports Logistics to bring our innovative, Halal-Certified biomaterial products into the United Arab Emirates, Qatar, Bahrain, Oman, Kuwait and Egypt.”
“In consultation with our distributors, we look forward to extending the reach of Celularity’s commercial biomaterial products to more people in the Middle East over the next decade,” said CH Trading Group CEO, Sayed Zayan. “We are excited to partner with Celularity and AD Ports Group on increasing access to innovative health and wellness solutions for patients in the GCC region and beyond – and the expanding market for Celularity’s Halal-Certified biomaterial products.”
Celularity commercial biomaterial products include:
Celularity Inc. (Nasdaq: CELU) headquartered in Florham Park, N.J., is a 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 Group”) is part of the CH Group family of companies (www.chgroupus.com). CH Trading 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.
About AD Ports Group
Established in 2006, AD Ports Group today serves as one of the world’s premier facilitators of logistics, industry, and trade, as well as a bridge linking Abu Dhabi to the world. Listed on the Abu Dhabi Securities Exchange (ADX: ADPORTS), AD Ports Group’s vertically integrated business approach has proven instrumental in driving the emirate’s economic development over the past decade.
Operating several clusters covering Ports, Economic Cities & Free Zones, Maritime, Logistics, and Digital, AD Ports Group’s portfolio comprises 10 ports and terminals, and more than 550 square kilometres of economic zones under KEZAD Group, the largest integrated trade, logistics, and industrial business grouping in the Middle East.
AD Ports Group is rated A+ by S&P and A+ Outlook Stable by Fitch.
For more information, please visit: adportsgroup.com
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 the United Arab Emirates, Qatar, Bahrain, Oman, Kuwait and Egypt, develop opportunities for commercial stage regenerative biomaterial products and investigational products in the United Arab Emirates, Qatar, Bahrain, Oman, Kuwait and Egypt and broader global markets, as well as establish its biobanking business in the United Arab Emirates, Qatar, Bahrain, Oman, Kuwait and Egypt, 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.
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