CELULARITY ANNOUNCES $45 MILLION PURCHASE ORDER,FIRST MIDDLE EAST PRIVATE LABEL AGREEMENT FORCELULARITY’S HALAL-CERTIFIED BIOMATERIAL PRODUCTS
FLORHAM PARK: Gulf Tech News
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.”
