Cellular Biomedicine Group Announces Appointment of Ant Financial Vice President, Gang Ji, to the Board of Directors
14 November 2016 - 11:44PM
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, today announced the
appointment of Gang Ji as a Director of the Board and the transfer
of Guotong Xu, M.D., Ph.D from Director of the Board to the
Scientific Advisory Board, effective November 11, 2016. Mr. Ji will
join the Compensation Committee.
“We are delighted to welcome Gang Ji to the CBMG
board. Mr. Ji is an energetic and seasoned executive with
over sixteen years of experience in the global investment and
internet technology sectors. He currently serves as Vice
President for Ant Financial, a notable global financial technology
leader, having previously transitioned from Alibaba Group where he
served as Vice President responsible for strategic investments,”
said Terry A. Belmont, Chairman of the Board of CBMG. “His breadth
of experience in financial services, investments and high-growth
industries will add powerful capabilities to our Board. We
are confident that his strategic insights and financial acumen, as
well as his extensive relationships with venture capital, private
equity and large institutional investors, can bolster resources for
the Company’s dual technology platforms targeting unmet needs in
the treatment of cancerous and degenerative diseases.”
Guotong Xu, M.D., Ph.D, who has served on the
Board of Directors since November 2014, will transition to serve on
the Company’s Scientific Advisory Board to lead the continued
efforts of CBMG’s stem cell platforms. Dr. Xu’s regenerative
medicine expertise will help advance CBMG’s multiple ongoing
research programs and pipeline of therapies.
“I am delighted to join the Board of Cellular
Biomedicine Group and believe that the Company’s robust and
vigorous manufacturing capabilities, R&D and scientific
leadership well positions CBMG to develop meaningful solutions for
cancer and degenerative diseases affecting so many families in
China,” commented Mr. Ji.
About Gang JiMr. Ji joined Ant
Financial in January 2016 as Vice President. Mr. Ji is responsible
for the global strategic investments for Ant Financial and has
sixteen years of experience in investment and more than eight years
of experience in the internet industry. Before joining Ant
Financial, he served Alibaba Group as Vice President, where he was
responsible for strategic investment for seven years. Prior to
Alibaba, Mr. Ji worked for several venture capital funds and was an
auditor of KPMG. He is a director of the publicly listed
company Asia Game Technology Ltd (HKEX:8279) as well as several
private technology companies. He holds a bachelor’s degree in
international business management from University of International
Business and Economics (Beijing).
About Cellular Biomedicine
GroupCellular Biomedicine Group, Inc. develops proprietary
cell therapies for the treatment of certain degenerative and
cancerous diseases. Our developmental stem cell and
Immuno-Oncology projects are the result of research and development
by scientists and doctors from China and the United
States. Our GMP facilities in China, consisting of twelve
independent cell production lines, are designed, certified and
managed according to U.S. standards. To learn more about
CBMG, please visit: www.cellbiomedgroup.com
Forward-Looking
StatementsStatements 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
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