Celularity on Wednesday announced it was advised by the Tamer Group to expect $60 to $80 million in 2023 purchase orders for its branded biomaterial products.
Tamer Group is a pharmaceutical and medical products distributor and manufacturer based in the Kingdom of Saudi Arabia. With this significant planned purchase, the Tamer Group can provide Celularity’s products to patients in need across the Kingdom of Saudi Arabia.
Once complete, the transaction will mark one of the company’s largest sales and validate the power of Celularity’s proprietary postpartum placental-derived stem cell technology.
Florham-Park-based Celularity stands out as one of the few companies with a commercially viable biomaterials product pipeline as it produces next-generation therapeutics focusing on oncology, inflammaging, and infectious diseases.
Because of its unique properties, Celularity says its suite of biomaterial products is designed to allow one’s body to repair damaged or defective tissue naturally by acting as a scaffold for native cell propagation, migration, and differentiation. These materials may also augment areas of inadequate tissue.
“We deeply appreciate Tamer advising us about its anticipated 2023 purchase orders, which will further guide operations planning at our Florham Park facility where we manufacture Celularity’s branded biomaterial products,” Dr. Robert Hariri, Celularity’s CEO, chairman and founder stated. “Celularity’s biomaterial inventory and rapidly scalable production capacity ideally positions us for product distribution launches in the Middle East and to move quickly on opportunities to expand sales in this and other markets.”
In January 2023, Celularity and CH Trading Group announced the execution of an agreement with Tamer to be the exclusive distributor for Celularity’s Halal Certified branded biomaterial products in the Kingdom Saudi Arabia.
Speaking on behalf of Tamer Group, Yasser Khattab, Tamer Healthcare CEO, said, “We look forward to a long and productive partnership with Celularity and CH Trading Group to bring Celularity’s Halal-Certified biomaterial products to patients in need in the Kingdom of Saudi Arabia.”
Dr. Ahmed Mousa, Business Development head and leading Tamer Life Sciences project, added, “Such collaboration aligns with the Kingdom of Saudi Arabia Vision 2030 goals for developing science, research & innovation, and importantly advances the current focus on economic diversification, job creation, and localization of production, technology transfer, clinical trials, training & education.”
The advisory guidance provided by Tamer Group is a non-binding estimate provided for planning purposes and is subject to a number of conditions precedent. Some of these factors are outside the control of Tamer Group and Celularity. There can be no assurance that Celularity will realize any purchase orders.
