Attached files
Exhibit 99.1
Cellular Biomedicine Group Announces $30.6 million Investment
from
Sailing Capital Overseas Investment Ltd.
SHANGHAI, China and CUPERTINO, Calif., February 5, 2018
/GlobeNewswire/ -- Cellular Biomedicine Group Inc. (NASDAQ:
CBMG) (“CBMG” or the “Company”),
a
biopharmaceutical firm engaged in the development of immunotherapies for cancer, today
announced the receipt of a $30.6 million investment from
Sailing Capital Overseas Investment Ltd. and its affiliates
(collectively “Sailing”), a global private equity firm
focused on China cross-border investments in disruptive global
companies in the healthcare, technology and consumer
sectors. As part of the transaction, Sailing will appoint a
representative to the Company’s Board of
Directors.
“Sailing is a highly-regarded growth equity investor which
leverages its unique commercial and government relationships to
enhance its portfolio companies’ businesses in China and
internationally. Sailing’s investment in the Company further
validates our proprietary technology platform and independently
affirms our prospects for CFDA approval and commercialization in
China. We are proud of the demonstrated clinical proof-of-concept
of our Chimeric Antigen Receptor (“CAR”) T-cell
immuno-oncology platform, and Sailing’s investment will
enable further clinical development by funding our multiple
clinical programs for progressive malignant lymphoma, Acute B
lymphocytic leukemia and Hodgkin’s lymphoma, as well as
development in novel T Cell Receptor (TCR) therapies to redirect T
cells for solid tumors,” said Tony (Bizuo) Liu, Chief
Executive Officer of CBMG.
“With the recent regulatory approvals and commercialization
of CAR-T in the US and the CFDA’s issuance of final guidance
for the approval of CAR-T in China, we believe an investment in
CBMG is timely as the China market opportunity for cell and gene
therapy is substantial. We have conducted a deep dive on the cell
and gene therapy industry and found CBMG to be not only a leader in
China, but also globally, of vertically integrated cell and gene
therapy manufacturing know-how, as evidenced by the Company’s
strategic and joint development partnerships with both GE and
Thermo Fisher. GMP quality manufacturing, market leading capacity
(for 10,000 patients) and a focus on GCP standards in China are
critical success factors in developing cutting-edge cancer
immunotherapies for the global markets. Further, we have found CBMG
to have strong innovation and translation medicine sophistication,
which is reflected in a strong pipeline of multiple CAR-T and TCR
constructs. We also see tremendous opportunity for leading cell and
gene therapy companies based outside of China to partner with CBMG,
leveraging the Company’s manufacturing expertise and the
favorable regulatory environment in China, to rapidly advance
development programs into the clinic. We look forward to supporting
CBMG’s continued clinical success and believe the Company
will emerge as a leader in the cancer medicine fields,” said
James Xiaodong Liu, Chairman of Sailing Capital.
About Cellular Biomedicine Group
Cellular Biomedicine Group, Inc. (NASDAQ:CBMG) develops
proprietary cell therapies for the treatment of cancer and
degenerative diseases. CBMG conducts immuno-oncology and stem cell
clinical trials in China using products from its integrated GMP
laboratory. CBMG GMP facilities in China, consist of twelve
independent cell production lines, and are designed and managed
according to both China and U.S. GMP standards. CBMG’s
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. 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, as well as an ongoing Phase I trial
in China for AlloJoin™ (CBMG’s
“Off-the-Shelf” Allogeneic Human Adipose-derived
Mesenchymal Stem Cell) for the treatment of Knee Osteoarthritis
(“KOA”). In 2017 CBMG was awarded $2.29 million from
the California Institute for Regenerative Medicine (CIRM) to
support pre-clinical studies of AlloJoin™ for Knee
Osteoarthritis in the United States. To learn more about CBMG,
please visit www.cellbiomedgroup.com.
About Sailing Capital
Founded in 2012, Sailing Capital
(“Sailing”) is a Shanghai and Hong Kong based global
private equity firm, which invests in market leaders across a range
of industries including healthcare, technology and consumer.
Sailing was initiated by Shanghai International Group (SIG) mainly
for investments outside of the domestic Chinese market and is the
first major private equity fund on the global stage with its
initial capital raised domestically in Chinese Yuan (RMB).
Sailing’s LPs include some of the most successful and
influential companies in China. Sailing’s commitments can
take the form of equity, equity-linked, mezzanine and/or debt
capital contributed on a full acquisition, majority or minority
basis. To learn more about Sailing, please visit
www.sailing-capital.com.hk
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 CBMG’s ability to implement its plans, strategies
and objectives for future operations, including its plan to
configure part of its Shanghai facility with GE Healthcare’s
FlexFactory platform, its ability to execute on proposed new
products, services or development thereof, results of its clinical
research and development, regulatory infrastructure governing cell
therapy and cellular biopharmaceuticals, its ability to enter into
agreements with any necessary manufacturing, marketing and/or
distribution partners for purposes of commercialization, its
ability to seek intellectual property rights for its product
candidates, competition in the industry in which it operates,
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, it 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