Cellular Biomedicine Group Announces Results of 2017 Annual Meeting of Stockholders
May 01 2017 - 4:01PM
Cellular Biomedicine Group Inc. (NASDAQ:CBMG) (“CBMG” or the
“Company”), clinical-stage biopharmaceutical firm engaged in the
development of effective immunotherapies for cancer and stem cell
therapies for degenerative diseases, today announced
the voting results of its 2017 Annual Meeting of Stockholders,
held on April 28, 2017 in Cupertino, California.
Approximately 65.7% of the Company’s outstanding shares were
represented at the 2017 Annual Meeting.
The following business items were
approved at the Annual Meeting:
- The election of three (3) “Class II” directors, each of whom
will be elected for a term of three years, or until the election
and qualification of their successors: Chun Kwok Alan Au, Gang Ji
and Bizuo (Tony) Liu.
- 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, 2017.
- The approval of an amendment to the Cellular Biomedicine Group,
Inc. 2014 Stock Incentive Plan to increase the number of shares
available for issuance thereunder by 1,000,000 shares.
- A non-binding advisory vote on the Company’s executive
compensation.
“We appreciate the high level of shareholder
participation and support that we have seen at this year’s Annual
Meeting and the resounding majority votes in accordance with the
Board’s recommendations. We continue to have a healthy balance
sheet while building up our strong innovative technology platforms
and collaborating with world-leading research institutions,” said
Terry Belmont, Chairman of the Board of Directors of Cellular
Biomedicine Group. “The Company is confident in its ability to
execute on its key operational objectives, deliver value to
stockholders as well as its trajectory towards building a
world-class biopharmaceutical firm addressing large unmet medical
needs.”
About Cellular Biomedicine Group Cellular
Biomedicine Group, Inc. (NASDAQ:CBMG) develops proprietary cell
therapies for the treatment of cancer and degenerative diseases. We
conduct immuno-oncology and stem cell clinical trials in China
using products from our integrated GMP laboratory. 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. CBMG recently commenced two Phase I
human clinical trials in China using CAR-T to treat
relapsed/refractory CD19+ B-cell Acute Lymphoblastic Leukemia (ALL)
and Refractory Diffuse Large B-cell Lymphoma (DLBCL) as well as an
ongoing Phase I trial in China for AlloJoinTM (CBMG’s
“Off-the-Shelf” Allogeneic Human Adipose-derived Mesenchymal Stem
Cell) for the treatment of Knee Osteoarthritis (KOA). CBMG was
recently awarded $2.29 million from the California Institute for
Regenerative Medicine (CIRM) to support pre-clinical studies of
AlloJoinTM for Knee Osteoarthritis in the United States. The
Company also recently announced a strategic partnership with GE
Healthcare Life Sciences China to establish a joint technology
laboratory to develop control processes for the manufacture of
CAR-T and stem cell therapies. 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
+1 408-973-7884
sarah.kelly@cellbiomedgroup.com
Vivian Chen
Managing Director Investor Relations, Citigate Dewe Rogerson
+1 347 481-3711
vivian.chen@citigatedr.com
Cellular Biomedicine (NASDAQ:CBMG)
Historical Stock Chart
From Mar 2024 to Apr 2024
Cellular Biomedicine (NASDAQ:CBMG)
Historical Stock Chart
From Apr 2023 to Apr 2024