PALO ALTO, Calif., June 18, 2014 (GLOBE NEWSWIRE) -- Cellular Biomedicine Group Inc. (Nasdaq:CBMG) (the "Company"), a biomedicine firm engaged in the development of new treatments for degenerative and cancerous diseases, announced today that its common stock commences trading on NASDAQ under the ticker symbol "CBMG" effective today, June 18, 2014.
"We are extremely proud to be an early pure-play biotechnology company from China to be approved for listing on The NASDAQ Capital Market and are gratified to have reached this significant milestone in the Company's history. We believe this achievement will provide greater visibility for our stock and that this accomplishment demonstrates to our shareholders our commitment to building shareholder value while improving the quality of life for countless patients," stated Dr. Wei (William) Cao, Chief Executive Officer of Cellular Biomedicine Group.
Mr. Bizuo (Tony) Liu, Chief Financial Officer of Cellular Biomedicine Group, commented, "Following a comprehensive evaluation of all U.S. exchanges, we determined that The NASDAQ Capital Market was the best fit for Cellular Biomedicine Group. CBMG has met and will remain subject to all the NASDAQ listing requirements."
The NASDAQ Capital Market is the largest U.S. equities exchange by number of companies and volume, with approximately 3,200 member-companies. Nasdaq-listed companies are leaders across all areas of business including biotechnology, industrials, technology, retail, communications, financial services, transportation, and media.
Ellenoff Grossman & Schole LLP (www.egsllp.com), a leading securities law firm specializing in small and mid-cap public companies, represented Cellular Biomedicine Group in connection with its listing on The NASDAQ Capital Market.
About Cellular Biomedicine Group
Cellular Biomedicine Group, Inc. develops proprietary cell therapies for the treatment of certain degenerative diseases and cancers. The Company's 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. The Company's flagship GMP facility, 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.