Cellular Biomedicine Will Focus on China, Closing California Operations

Cellular Biomedicine will develop its stem cell and CAR-T projects exclusively in China, closing down its California operations. The company said a combination of lower costs for clinical trials and a faster path to commercialization prompted the turn toward China. News of the change in its business plan came as CBMG reported early signs of success in a China Phase I trial of AlloJoin™, its off-the-shelf mesenchymal progenitor cell therapy for Knee Osteoarthritis (KOA). CBMG has operations in Shanghai and Cupertino, California. More details....

Stock Symbol: (NSDQ: CBMG)

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Original Article: Cellular Biomedicine Will Focus on China, Closing California Operations

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