Celularity and CH Trading Group Announce Product Distribution Agreement with Tamer Group to be the Exclusive Distributor for the Kingdom of Saudi Arabia
FLORHAM PARK, N.J. & RIYADH, 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 distribution agreement with the Tamer Group (“Tamer”). The Tamer Group, a leading Middle East healthcare distribution company, will be the exclusive distributor for Celularity’s branded regenerative biomaterial products in Saudi Arabia.
“Celularity’s Halal-Certified regenerative biomaterial products enable Tamer to realize our fundamental ambitions of contributing to personal wellness and public health, as well as supporting Saudi Arabia’s Vision 2030 plan for healthcare innovation and development,” said Tamer Group Chairman & Managing Partner, Ayman Tamer.
“We are looking forward to partnering with Celularity and CH Group on this exciting opportunity across Saudi Arabia and providing unprecedented access to these cutting-edge therapeutics to all members of the community,” stated Dr. Yasser Khattab, Tamer Group Healthcare CEO.
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 compounded annual growth rate of 15.9% to reach US $37.10 billion in 2030.
“Saudi Arabia is a prime market for Celularity’s commercial regenerative biomaterial products,” said CEO of CH Trading Group, Sayed Zayan. “We are excited to partner with Tamer Group and to be a part of fulfilling their commitment to the development of the Kingdom’s healthcare sector.”
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.
“Today’s announcement marks an important next step in Celularity’s Islamic Markets strategy, to bring our innovative Halal-Certified – under globally recognized Circle H International Inc. standards – regenerative biomaterial products to treat degenerative disease into the Saudi Arabia market,” said Celularity’s CEO, Chairman and Founder, Robert J. Hariri, M.D., Ph.D. “This is an important validation of our unique business model, which creates multiple cellular therapeutics, advanced biomaterials and derivatives from the single source material, and our proprietary manufacturing processes.”
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.
It is anticipated that these biomaterial products are to become available in Saudi Arabia in 2023 following receipt of approval from the Saudi Food and Drug Authority. Tamer is expected to be Celularity’s and CH Group’s local strategic partner for Celularity’s Lifebank business model for placenta and cord blood banking, as well as for a new Serum Banking business and other potential research and development collaborations.