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EX-10.2 - SECURITIES PURCHASE AGREEMENT - Cellular Biomedicine Group, Inc. | cbmg_ex102.htm |
EX-10.1 - LICENSE AND COLLABORATION AGREEMENT - Cellular Biomedicine Group, Inc. | cbmg_ex101.htm |
EX-4.1 - REGISTRATION RIGHTS AGREEMENT - Cellular Biomedicine Group, Inc. | cbmg_ex41.htm |
8-K - FORM 8-K - Cellular Biomedicine Group, Inc. | cbmg_8k.htm |
EXHIBIT
99.1
Cellular Biomedicine Group Enters Into Strategic Licensing and
Collaboration Agreement with a Global Leader in CAR-T Cell Therapy
for Patients in China
Collaboration with Novartis includes $40 million equity investment
in CBMG for 1,458,257 shares at $27.43/share
CBMG to license select proprietary technology to Novartis for
global use
CBMG to manufacture and supply Kymriah® (tisagenlecleucel) in
China
SHANGHAI
and CUPERTINO, Calif., September 27, 2018 (PRNEWSWIRE)
– Cellular Biomedicine
Group Inc. (NASDAQ:
CBMG) today
announced it has entered into a strategic licensing and
collaboration agreement with Novartis to manufacture and supply the
CAR-T cell therapy Kymriah® (tisagenlecleucel) in China.
Novartis will be the exclusive holder of the marketing
license.
Upon
the closing of the licensing and collaboration agreement, CBMG
– a clinical-stage biopharmaceutical firm engaged in the
development of immunotherapies for cancer and stem cell therapies
for degenerative diseases – will receive $40 million in an
equity purchase from Novartis at $27.43/share for approximately 9%
equity. Novartis will receive certain royalty-free intellectual
property worldwide rights to certain CBMG CAR-T related technology.
CBMG will receive a single-digit escalating percentage
collaboration payment based on net product sales. CBMG will receive
a mark-up from Novartis on the manufacturing cost. CBMG will take
the lead in the manufacturing process, and Novartis will lead
distribution, regulatory and commercialization efforts in
China.
“This
collaboration with Novartis reflects our shared commitment to
bringing the first marketed CAR-T cell therapy Kymriah, a
transformative treatment option currently approved in the United
States, European Union and Canada for two difficult-to-treat
cancers, to China where the number of patients in need remains the
highest in the world,” said Tony Liu, Chief Executive
Officer, CBMG. “Together with Novartis, we hope to bring the
first CAR-T cell therapy to patients in China. In addition, we
continue to focus on developing CBMG’s pipeline of
immuno-oncology assets.”
“Novartis
is committed to bringing new hope to children and adults who are
suffering from aggressive forms of blood cancer and currently have
limited therapeutic options. We are proud to collaborate with CBMG
in China to expand our Kymriah manufacturing capabilities and the
potential to facilitate safe and seamless delivery of this
innovative, one-time treatment to patients in need,” said
Pascal Touchon, Senior VP and Global Head, Cell & Gene,
Novartis Oncology.
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 12
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, whose partnerships focus on improving manufacturing
processes for cell therapies. The CBMG pipeline includes
preclinical compounds targeting CD20-, CD22- and B-cell maturation
antigen (BCMA)-specific CAR-T compounds, and T-cell receptor (TCR)
and tumor infiltrating lymphocyte (TIL) technologies. 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 are ongoing. 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 regulatory approval of
our IND applications, our plan to configure part of our Shanghai
facility with GE Healthcare’s FlexFactory platform, our
ability to execute on our obligations under the terms of our
licensing and collaboration arrangement with Novartis, 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.
Kymriah® is a registered trademark of Novartis AG. Please see
the full Prescribing Information for Kymriah, including Boxed
WARNING and Medication Guide at www.Kymriah.com.
Kymriah is approved for certain indications in the United States,
the European Union and Canada.
Contact:
Jenn Gordon
Spectrum Science Communications
+1 202-957-7795
jgordon@spectrumscience.com
CBMG Press
Room www.CellBioMedGroup.com
PR201811