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8-K - CURRENT REPORT - Cellular Biomedicine Group, Inc. | cbmg_8k.htm |
Exhibit 99.1
Cellular Biomedicine Group Announces Results of 2017 Annual Meeting
of Stockholders
SHANGHAI, China and CUPERTINO, Calif., May 01,
2017 /GlobeNewswire/ — 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:
1.
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.
2.
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.
3.
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.
4.
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