Cellular Biomedicine Group Announces New Facility in Beijing
April 22 2015 - 8:39AM
Cellular Biomedicine Group Inc. (Nasdaq:CBMG) ("CBMG" or the
"Company"), a biomedicine firm engaged in the development of
effective treatments for degenerative and cancerous diseases, today
announced that the Company, in anticipation of growth in the
Beijing vicinity and further development of the CAR-T platform, has
signed a new five-year lease for a 15,000 square feet site slated
for the Company's third GMP facility which will also expanded
staffing in the Life Science Park, Changping District, Beijing,
China. Approximately half of the site will be a GMP equipped
facility to support clinical batch production and commercial scale
manufacturing. We expect to complete the state-of-the-art GMP
facility in Q3 this year.
"Having already established a world-class biomedicine facility
in Shanghai, China, this expansion to Beijing will allow us to
prepare for increasing manufacture demand from our immuno-oncology
and human adipose-derived mesenchymal progenitor cell (haMPC)
platforms in the near future," said William (Wei) Cao, PhD, BM,
Chief Executive Officer of Cellular Biomedicine Group. "In
addition, housing our vertically integrated research and
development and production systems in several locations,
particularly Beijing, enables the Company to deliver consistent
quality measures across the whole northern China region, thereby
better serving the Company's patient population."
About Cellular Biomedicine Group
Cellular Biomedicine Group, Inc. develops proprietary cell
therapies for the treatment of certain degenerative diseases and
cancers. Our developmental stem cell, progenitor cell, and immune
cell projects are the result of research and development by
scientists and doctors from China and the United States. Our
flagship GMP facility in China, consisting of eight independent
cell production lines, is designed, certified and managed according
to U.S. standards. 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, but are not
limited to, risk factors inherent in doing business.
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
+1 650 566-5064
sarah.kelly@cellbiomedgroup.com
Vivian Chen
Managing Director Investor Relations, Grayling
+1 347 481-3711
vivian.chen@grayling.com
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