BioCentury
ARTICLE | Financial News

Cellular Biomedicine secures $43.1M from Dangdai

February 6, 2016 1:10 AM UTC

Cell therapy company Cellular Biomedicine Group Inc. (NASDAQ:CBMG) is raising $43.1 million through the sale of 2.3 million shares at $19 to Wuhan Dangdai Science and Technology Industries Group. The purchase price is a 10% premium over Cellular Biomedicine's Wednesday close of $17.21, before the deal was announced, and gives Dangdai a 19.4% stake. Cellular Biomedicine said it would use the funds to support development of its chimeric antigen receptor (CAR) T cell therapies. ...