Attached files
| file | filename |
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| EX-10.1 - SHARE PURCHASE AGREEMENT - Cellular Biomedicine Group, Inc. | cbmg_ex10-1.htm |
| 8-K - CURRENT REPORT - Cellular Biomedicine Group, Inc. | cbmg_8k.htm |
Exhibit 99.1
Cellular Biomedicine Group Announces Closing of $14.5 Million
Private Placement Offering
SHANGHAI,
China and CUPERTINO, Calif., December 28,
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 the closing of two
private placement transactions pursuant to which it sold an
aggregate of 1,208,333 shares (the “Shares”) of the
Company’s common stock, par value $0.001 per share (the
“Common Stock”), to selected key executives and private
investors (the “Investors”) at $12.00 per share, for
total aggregate gross proceeds of approximately $14.5
Million.
The
Company intends to use the proceeds from the financings to fund
clinical trials, invest in new product development and expand the
Company’s research and development programs.
The
issuance of the Shares was made in reliance on the exemption from
registration provided by Section 4(a)(2) and Regulation S under the
Securities Act of 1933, as amended.
“We
are pleased that key executives and investors have shown long-term
support for our plans for the three ongoing Chimeric Antigen
Receptor T Cell (CAR-T) clinical trials for C-CAR011 in patients
with refractory or relapsed
Diffuse Large B-cell Lymphoma (DLBCL), adult
patients with relapsed or refractory B-cell Acute Lymphoblastic
Leukemia (ALL), and patients with B-cell Non-Hodgkin Lymphoma
(NHL), as well as human adipose-derived mesenchymal progenitor cell
(haMPC) in off-the-shelf allogeneic AlloJoinTM for Knee
Osteoarthritis (KOA)”, said Tony (Bizuo) Liu, Chief Executive
Officer for the Company. “We expect to keep on providing
catalysts to deliver value to our shareholders and continue to
build a world-class CAR-T and regenerative biopharmaceutical
company. The recent codification of industry regulation for cell
therapy products announced by the Chinese government has clarified
the development pathway under the Chinese regulatory framework.
Additionally, we have a seasoned team, a newly expanded higher
throughput manufacturing capacity and a formidable partnership with
GE Healthcare and ThermoFisher in automation. These enabling
factors have helped raise our confidence in our ability to reach
our goal of bringing to market safe and effective cell therapy
products for cancer and degenerative diseases to help a large
patient population.”
CBMG
Press Room
www.CellBioMedGroup.com
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 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). 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 those regarding our ability to implement our plans,
strategies and objectives for future operations, 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.
Contacts:
Sarah Kelly
Director of Corporate Communications, CBMG
+1 408-973-7884
sarah.kelly@cellbiomedgroup.com
CBMG
Press Room
www.CellBioMedGroup.com