Cellular Biomedicine Group Announces Appointment Of Ant Financial Vice President, Gang Ji, To The Board Of Directors

SHANGHAI, China and CUPERTINO, Calif., Nov. 14, 2016 (GLOBE NEWSWIRE) -- 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.   

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