Cellular Biomedicine Group Announces Grand Opening of Global Research and Development Center in Gaithersburg, Maryland
June 22 2018 - 9:00AM
Cellular Biomedicine Group Inc. (NASDAQ:CBMG) (“CBMG” or the
“Company”), a clinical-stage biopharmaceutical firm engaged in the
development of immunotherapies for cancer and stem cell therapies
for degenerative diseases, today announced the grand opening of a
new research and development center in Gaithersburg, Maryland.
“We are elated to announce the opening of a
research center located in the heart of a renowned cancer cell
therapy knowledge and biotech research hub,” commented Tony (Bizuo)
Liu, CEO of CBMG. “This biotech ecosystem is well suited for
working with top scientific talents and we believe it will help to
showcase our robust oncology research pipeline to new recruits and
potential collaborating partners. We intend to equip this new
research center with significant laboratory capabilities. Our goal
is for this research center to work closely with our R&D staff
in China to assist and accelerate our research and product
development process in the preclinical pipeline for our CAR-T, TCR
and other technology platforms. Following the completed
R&D process for these therapies, we plan to leverage our world
class GMP manufacturing facilities in China to conduct clinical
trials to deliver novel and effective therapies to the
patients."
About Cellular Biomedicine GroupCellular
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. Our Shanghai facility includes a
”Joint Laboratory of Cell Therapy” with GE Healthcare and a “Joint
Cell Therapy Technology Innovation and Application Center” with
Thermo Fisher Scientific, which partnerships focus on improving
manufacturing processes for cell therapies. CBMG currently has
ongoing CAR-T Phase I clinical trials in China; CARD-1 for Diffuse
Large B-cell Lymphoma (DLBCL) and Non-Hodgkin Lymphoma (NHL) and
CALL-1 for adult Acute Lymphoblastic Leukemia (ALL), utilizing
CBMG’s proprietary and optimized CD19 construct, a Phase IIb trial
in China for Rejoin® autologous Human Adipose-derived
Mesenchymal Progenitor Cell (haMPC) for the treatment of Knee
Osteoarthritis (KOA) as well as a Phase I trial in China for
AlloJoin™ (CBMG’s “Off-the-Shelf” haMPC) for the treatment of KOA.
CBMG is included in the broad-market Russell 3000® Index and the
small-cap Russell 2000® Index, and the Loncar China BioPharma
index. 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 and 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 those regarding our ability to implement our plans,
strategies and objectives for future operations, including our plan
to configure part of our Shanghai facility with GE Healthcare’s
FlexFactory platform, our ability to execute on proposed new
products, services or development thereof, results of our clinical
research and development, regulatory infrastructure governing cell
therapy and cellular biopharmaceuticals, our ability to enter into
agreements with any necessary manufacturing, marketing and/or
distribution partners for purposes of commercialization, our
ability to seek intellectual property rights for our product
candidates, competition in the industry in which we operate,
overall market conditions, any statements or assumptions underlying
any of the foregoing 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
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