GAITHERSBURG, Md. and
SHANGHAI, June 29, 2020 /PRNewswire/ -- Cellular
Biomedicine Group Inc. (Nasdaq: CBMG) ("CBMG" or the "Company"), a
biopharmaceutical firm engaged in the drug development of
immunotherapies for cancer and stem cell therapies for degenerative
diseases, today announced the voting results of its 2020
Annual Meeting of Stockholders, held on June
26, 2020 in Long Island City, NY. Approximately 77% of
the Company's outstanding shares were represented at the
2020 Annual Meeting.
The following business items were approved by a strong
majority at the Annual Meeting:
- Three (3) "Class II" directors, Chun
Kwok Alan Au, Jacky (Gang) Ji
and Tony (Bizuo) Liu, were elected for a term of three years;
- 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, 2020 was ratified;
- A non-binding advisory vote on the compensation of the
Company's named executive officers was approved; and
- A non-binding advisory vote on the frequency of future advisory
votes on the compensation of the Company's named executive officers
resulted in a recommendation of three years.
In light of the stockholders' recommendation to hold advisory
votes on the compensation of named executive officers every three
years and upon consideration of other relevant factors, the Company
has determined to hold advisory votes on the compensation of its
named executive officers every three years.
About Cellular Biomedicine Group, Inc.
Cellular
Biomedicine Group, Inc. (Nasdaq: CBMG) develops proprietary cell
therapies for the treatment of cancer and degenerative diseases.
The company conducts immuno-oncology and stem cell clinical trials
in China using products from its
integrated GMP laboratory. The Company's GMP facilities in
China, consisting of twelve
independent cell production lines, are designed and managed
according to both China and U.S.
GMP standards. Its 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. These
partnerships focus on improving manufacturing processes for cell
therapies. CBMG currently has ongoing CAR-T Phase I clinical trials
in China. The China NMPA (formerly
CFDA) approved the Company's IND application for a Phase II trial
for AlloJoin®, CBMG's "Off-the-Shelf" allogenic haMPC therapy for
the treatment of Knee Osteoarthritis (KOA), and has accepted the
Company's IND application for a Phase II trial for ReJoin®
autologous haMPC therapy for the treatment of KOA. The NMPA has
also accepted CBMG's dossier for an IND application for clinical
trials of anti-BCMA CAR-T. CBMG is included in the broad-market
Russell 3000® Index the small-cap Russell 2000® Index and the
Loncar China BioPharma index. To learn more about CBMG, please
visit www.cellbiomedgroup.com.
Company Contact:
Derrick C.
Li
Head of Strategy and Investor Relations, CBMG
Phone: 917-717-0994
Email: derrick.li@cellbiomedgroup.com
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SOURCE Cellular Biomedicine Group