Cellular Biomedicine Group Announces Results of 2016 Annual General Meeting
September 09 2016 - 4:05PM
Cellular Biomedicine Group Inc. (NASDAQ:CBMG) (“CBMG” or the
“Company”), a clinical-stage biomedicine firm engaged in the
development of effective stem cell therapies for degenerative
diseases and immunotherapies for cancer, today announced
the voting results of its 2016 Annual General Meeting (the
“Annual Meeting”) held on September 9, 2016 in Cupertino,
California. Approximately 64% of the Company’s outstanding
shares were represented at the 2016 Annual Meeting.
The following business items were
approved at the Annual Meeting:
- Re-election of Terry A. Belmont and election of Dr. Hansheng
Zhou to the Company’s Board of Directors to serve for a term of
three years or until the election and qualification of their
successors.
- Ratification of the appointment of BDO China Shu Lun Pan
Certified Public Accountants LLP as the Company’s independent
registered public accounting firm for the fiscal year ending
December 31, 2016.
“We appreciate our stockholders’ participation
and support for this year’s Annual Meeting and the votes in
accordance with the Board’s recommendations. Over the last three
years, we have transformed the Company from a single platform to
now a more diversified life sciences company with a strong pipeline
and a healthy balance sheet. We’re investing to assure
clinical progress in the areas of immuno-oncology and stem cell
therapies,” said Terry Belmont, Chairman of the Board of Directors
of Cellular Biomedicine Group. “The Company is confident in its
ability to execute on clinical milestones, deliver value to
stockholders and build a world-class biotechnology firm providing
cell-based solutions to address large unmet medical needs.”
About Cellular Biomedicine Group Cellular
Biomedicine Group, Inc. develops proprietary cell therapies for the
treatment of certain degenerative and cancerous diseases. Our
developmental stem cell and Immuno-Oncology projects are the result
of research and development by scientists and doctors
from China and the United States. Our GMP facilities
in China, consisting of twelve independent cell production lines,
are designed, certified and managed according to U.S. standards.
To learn more about CBMG, please visit:
www.cellbiomedgroup.com
Forward-Looking Statements Statements in this
press release relating to plans, strategies, trends, specific
activities or investments, and other statements that are not
descriptions of historical facts may be forward-looking statements
within the meaning of the Private Securities Litigation Reform Act
of 1995, Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended.
Forward-looking information is inherently subject to risks and
uncertainties, and actual results could differ materially from
those currently anticipated due to a number of factors, which
include risks inherent in doing business, trends affecting the
global economy, including the devaluation of the RMB by China in
August 2015 and other risks detailed from time to time in CBMG’s
reports filed with the Securities and Exchange Commission,
quarterly reports on form 10-Q, current reports on form 8-K and
annual reports on form 10-K. Forward-looking statements may be
identified by terms such as "may," "will," "expects," "plans,"
"intends," "estimates," "potential," or "continue," or similar
terms or the negative of these terms. Although CBMG believes the
expectations reflected in the forward-looking statements are
reasonable, they cannot guarantee that future results, levels of
activity, performance or achievements will be obtained. CBMG does
not have any obligation to update these forward-looking statements
other than as required by law.
Contacts:
Sarah Kelly
Director of Corporate Communications, CBMG
+1 650 566-5064
sarah.kelly@cellbiomedgroup.com
Vivian Chen
Managing Director Investor Relations, Grayling
+1 347 481-3711
vivian.chen@grayling.com
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