FLORHAM PARK, N.J. & RIYADH, Saudi Arabia & JEDDAH, Saudi Arabia — 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.