Silicon Valley's Cellular Biomedicine Group Expands in Beijing With New Facility and Plans to Hire
SHANGHAI, China and PALO ALTO, Calif., April 22, 2015 (GLOBE NEWSWIRE) -- 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.
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 email@example.com Vivian Chen Managing Director Investor Relations, Grayling +1 347 481-3711 firstname.lastname@example.org
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