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8-K - PRIMARY DOCUMENT - Cellular Biomedicine Group, Inc. | cbmg_8k.htm |
Exhibit
99.1
Cellular Biomedicine Group Plans Grand Opening of its New Shanghai
Facility
SHANGHAI, China and CUPERTINO, Calif., September 22,
2017 /GlobeNewswire/ — Cellular Biomedicine Group
Inc. (NASDAQ: CBMG) (“CBMG” or the
“Company”), a clinical-stage biopharmaceutical firm
engaged in the development of effective immunotherapies for cancer
and stem cell therapies for degenerative diseases, today announced
that the Grand Opening ceremony set for its new Shanghai facility
will be held on November 4, 2017 at 10:30am at “Pharma
Valley” in Shanghai Zhangjiang High-Tech Park. This state-of-the-art facility will provide
office and GMP space for the company’s growing
needs.
“The 100,000 square-foot facility features a top-of-the-line
GMP facility with integrated Chemistry, Manufacturing,
and Controls (“CMC”) processes. We currently have three manufacturing
facilities in China (Beijing, Shanghai, and Wuxi) with 47,300
square feet of capacity. With the opening of the new Zhangjiang
facility in Shanghai’s Pharma Valley, we will have a total
GMP capacity of 70,000 square feet,” said Tony (Bizuo) Liu,
CEO for the Company. “All plasmids and viral vectors are
produced in-house and we will have a high yield, automated, closed
cell culture system, a key differentiator in the CAR-T and
regenerative medicine space. This expansion 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.”
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 Refractory Diffuse Large
B-cell Lymphoma (DLBCL), a Phase I human clinical trial to treat
relapsed/refractory CD19+ B-cell Acute Lymphoblastic Leukemia
(ALL), 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.
Contact:
Sarah Kelly
Director of Corporate Communications, CBMG
+1 408-973-7884
sarah.kelly@cellbiomedgroup.com