- Builds on Celularity's December
2022 announcement of Halal Certification of its
commercial-stage biomaterial products, and clinical and
investigational stage cellular therapeutic programs
- Marks an important first step in Celularity's expansion
strategy into the Middle East with
a priority focus on the GCC
- In line with Celularity's mission to deliver cutting-edge
biomaterial products that are manufactured in its
state-of-the-art cGMP/cGTP compliant facility
FLORHAM
PARK, N.J., May 23, 2023
/PRNewswire/ -- Celularity Inc. (Nasdaq: CELU) (Celularity), a
biotechnology company developing placental-derived allogeneic cell
therapies and biomaterial products, today announced that it has
received a $45 million purchase order
for its private label Halal-Certified biomaterial products from
Jamjoom Medical Store (Jamjoom).This marks the first purchase order
received by Celularity under its recently announced expansion into
the Middle East market, as part of
Celularity's global market strategy.
Robert J. Hariri, M.D., Ph.D.,
Celularity's CEO, Chairman and Founder, said: "We are delighted to
announce the receipt of a $45 million
purchase order for Celularity Halal-Certified biomaterial products
from Jamjoom, marking an important step in our expansion into the
Middle East. Our mission is to
lead the next evolution in cellular medicine, and we look forward
to building on this positive momentum to provide cutting-edge
therapies to the people in the region.
Celularity's investment in platform technologies and
infrastructure, including our world class cGMP/cGTP-compliant
manufacturing facility allows us to rapidly scale and efficiently
manufacture our Halal-certified biomaterial products. We are
grateful to Jamjoom and to our exclusive territories distributor in
the Islamic Markets, CH Trading Group, for making this significant
milestone possible."
Dr. Khalid Ali, Jamjoom CEO,
said: "As the first private label distributor of Celularity
Halal-Certified biomaterial products in the Kingdom of Saudi Arabia, this purchase order
marks our commitment to bringing innovative regenerative medicine
products to physicians and patients alike. We look forward to
developing this important opportunity with Celularity and CH
Trading Group."
"The availability of Halal-Certified biomaterial products is a
key enabler of the rapidly emerging regenerative medicine market in
Saudi Arabia," said CEO of CH
Trading Group, Elsayed Zayan. "We
are excited to partner with Jamjoom as the first private label
distributor of these products in the Kingdom."
About Celularity
Celularity Inc. (Nasdaq: CELU) headquartered in Florham Park, N.J., is a biotechnology company
leading the next evolution in cellular and regenerative medicine by
developing allogeneic cryopreserved off-the-shelf placental-derived
cell therapies, including therapeutic programs using
mesenchymal-like adherent stromal cells (MLASCs), T-cells
engineered with CAR (CAR T-cells), and genetically modified and
unmodified natural killer (NK) cells targeting indications in
autoimmune, infectious and degenerative diseases, and cancer.
Celularity also develops, manufactures and commercializes
innovative biomaterial products 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 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.
About Jamjoom Medical Store
The Jamjoom family of companies (www.jamjoom.com) consists
of a 100% Saudi conglomerate comprising a diversified business
portfolio operating over one hundred years in the local market, in
the GCC region and many African countries. Its business specialties
include Pharmaceuticals, Medical Equipment and Supplies, Vehicles,
Hotels & Hospitality, Metal Industries, Food, Fine Writing
Instruments, Stationery and Office Supplies, Perfumes, Toys,
Cosmetics & Skin Care, and Fashion. For instance, Jamjoom
Medicine Store distinguishes itself as a 57-year-old leading
healthcare product distribution and services leader, including in
the areas of marketing, sales, supply chain and logistics, and
regulatory affairs.
About Celularity Biomaterials
Celularity's suite of biomaterial products that are
Halal-Certified under globally recognized Circle H International
Inc. standards 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.
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 Jamjoom Medical Store purchase orders
and the impact on Celularity's 2023 revenues. Many factors could
cause actual results to differ materially from those described in
these forward-looking statements, including but not limited to: the
non-binding nature of the purchase order guidance; the risk that
the purchase orders may never materialize; as well as other
commercial risks associated with Jamjoom Medical Store distribution
agreement; as well as 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, 2023, , 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, as well as the risks of expanding the
biomaterials business internationally. 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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SOURCE Celularity