New Jersey/Abu Dhabi: Abu Dhabi Ports Logistics (ADPL), a subsidiary of the Logistics Cluster, AD Ports Group, has entered into an exclusive distribution agreement with Nasdaq-listed Celularity, a biotechnology company developing placental-derived allogenic cell therapies and biomaterial products.
In partnership with 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 Celularity’s biomaterial products in the UAE, Qatar, Bahrain, Oman, Kuwait and Egypt.
Farook Al Zeer, Chairman of 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 and Life Sciences Team.”
He added: “Becoming the distributor of choice for Celularity’s biomaterial products is yet another example of how we work with our industry partners to ensure that our communities across the nation can access the best and most innovative healthcare products possible.”
According to Emergent Research, the worldwide regenerative medicine market was $9.80 billion in 2021 and is anticipated to grow at a revenue CAGR of 15.9 per cent to reach $37.10 billion in 2030.
“Today’s announcement highlights a significant milestone in our global expansion strategy and focuses on the Middle East and North Africa market,” said Robert J. Hariri, Celularity’s CEO, Chairman and Founder.