ARTICLE | Financial News

Cellular Biomedicine raises $14.5M

December 29, 2017 8:11 PM UTC

Cell therapy company Cellular Biomedicine Group Inc. (NASDAQ:CBMG) said Thursday it raised $14.5 million through the sale of 1.2 million shares at $12 across two private placements. Investors included Maplebrook, Windsor Capital, interim CEO Bizuo (Tony) Liu, CSO Yihong Yao, and Andrew Chan, who is SVP of legal, corporate development and board security.

The company is developing cellular therapies to treat cancer and degenerative diseases in China. Its CD19-targeting chimeric antigen receptor (CAR) T cell therapy, C-CAR011, is in Phase I testing in China under two names: as CARD-1, to treat diffuse large B cell lymphoma (DLBCL) and non-Hodgkin's lymphoma (NHL); and as CALL-1, to treat acute lymphoblastic leukemia (ALL)...

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