SHANGHAI, China and CUPERTINO, Calif., Jan. 03, 2017 (GLOBE NEWSWIRE) -- Cellular Biomedicine Group Inc. (NASDAQ: CBMG ) (“CBMG” or the “Company”), a clinical-stage biomedicine firm engaged in the development of effective immunotherapies for cancer and stem cell therapies for degenerative diseases, is pleased to announce the signing of a ten-year lease of a 113,038 square feet building located in the “Pharma Valley” in Shanghai Zhangjiang High-Tech Park. The new GMP facility that will be built on these premises will consist of 40,000 square feet dedicated to advanced cell manufacturing. By the end of 2017, the Company anticipates that the new Zhangjiang, an expanded Wuxi, and Beijing GMP facilities combined will have 70,000 square feet, and the Company expects that it will be capable of supporting simultaneous clinical trials for five different CAR-T and stem cell products, or approximately the ability to treat 10,000 cancer patients and 10,000 stem cell patients per year.
“We are very excited to continue to add to our in-house manufacturing capabilities. This new development, once built out, will substantially expand our total production facility’s square footage across three key cities in China. In conjunction with the upcoming expanded GMP facility in Wuxi for clinical grade Plasmid and Viral Vectors bank production, we will have an integrated Chemistry, Manufacturing, and Controls (“CMC”) process for CAR-T production through predominately closed and automated systems. We believe this will enable us to serve scaled-up demand for our current and future CAR-T clinical studies and will allow CBMG to move quickly and efficiently from R&D into manufacturing of CAR-T cells for clinical use, IND filings, and future commercialization,” said Tony (Bizuo) Liu, Chief Executive Officer of CBMG.
CBMG recently announced the approval and commencement of patient enrollment in China for its CARD-1 Phase I clinical trial utilizing its optimized proprietary C-CAR011 construct of CD19 chimeric antigen receptor T-cell (CAR-T) therapy for the treatment of patients with refractory Diffuse Large B-cell Lymphoma (DLBCL) as well as announcing promising interim 3-month safety data from its Phase I clinical trial in China for AlloJoin™ off-the-shelf allogeneic stem cell therapy for Knee Osteoarthritis (KOA).
About Cellular Biomedicine Group (CBMG) Cellular Biomedicine Group, Inc. develops proprietary cell therapies for the treatment of cancer and degenerative diseases. Our immuno-oncology and stem cell projects are the result of research and development by CBMG’s scientists and clinicians from both China and the United States. 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. 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 risks inherent in doing business, trends affecting the global economy, including the devaluation of the RMB by China in August 2015 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 Vivian Chen Managing Director Investor Relations, Grayling +1 347 481-3711 vivian.chen@grayling.com
