Cellular Biomedicine Group (CBMG) Expands Cell Production With Capacity to Produce CAR-T Therapies to Treat 10,000 Cancer Pa...
January 03 2017 - 8:00AM
Cellular Biomedicine Group Inc. (NASDAQ:CBMG) (“CBMG” or the
“Company”), a clinical-stage biomedicine firm engaged in the
development of effective immunotherapies for cancer and stem cell
therapies for degenerative diseases, is pleased to announce the
signing of a ten-year lease of a 113,038 square feet building
located in the “Pharma Valley” in Shanghai Zhangjiang High-Tech
Park. The new GMP facility that will be built on these premises
will consist of 40,000 square feet dedicated to advanced cell
manufacturing. By the end of 2017, the Company
anticipates that the new Zhangjiang, an expanded Wuxi, and Beijing
GMP facilities combined will have 70,000 square feet, and the
Company expects that it will be capable of supporting simultaneous
clinical trials for five different CAR-T and stem cell
products, or approximately the ability to treat 10,000 cancer
patients and 10,000 stem cell patients per year.
“We are very excited to continue to add to our
in-house manufacturing capabilities. This new development, once
built out, will substantially expand our total production
facility’s square footage across three key cities in China. In
conjunction with the upcoming expanded GMP facility in Wuxi for
clinical grade Plasmid and Viral Vectors bank production, we will
have an integrated Chemistry, Manufacturing, and Controls
(“CMC”) process for CAR-T production through predominately closed
and automated systems. We believe this will enable us to
serve scaled-up demand for our current and future
CAR-T clinical studies and will allow CBMG to move quickly and
efficiently from R&D into manufacturing of CAR-T cells for
clinical use, IND filings, and future commercialization,” said Tony
(Bizuo) Liu, Chief Executive Officer of CBMG.
CBMG recently announced the approval and
commencement of patient enrollment in China for its CARD-1 Phase I
clinical trial utilizing its optimized proprietary C-CAR011
construct of CD19 chimeric antigen receptor T-cell (CAR-T)
therapy for the treatment of patients with refractory Diffuse Large
B-cell Lymphoma (DLBCL) as well as announcing promising interim
3-month safety data from its Phase I clinical trial in China
for AlloJoin™ off-the-shelf allogeneic stem cell therapy for Knee
Osteoarthritis (KOA).
About Cellular Biomedicine Group
(CBMG)Cellular Biomedicine Group, Inc. develops
proprietary cell therapies for the treatment of cancer and
degenerative diseases. Our immuno-oncology and stem cell projects
are the result of research and development by CBMG’s scientists and
clinicians from both China and the United States. Our GMP
facilities in China, consisting of twelve independent cell
production lines, are designed and managed according to both China
and U.S. GMP standards. To learn more about CBMG, please visit:
www.cellbiomedgroup.com
Forward-Looking
StatementsStatements 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
+1 408-973-7884
sarah.kelly@cellbiomedgroup.com
Vivian Chen
Managing Director Investor Relations, Grayling
+1 347 481-3711
vivian.chen@grayling.com
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