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August 4, 2014
09:19 EDTCBMGCellular Biomedicine acquires Agreen Biotech, patent for $3.28M cash
Cellular Biomedicine announced reaching an agreement to acquire Agreen Biotech and its founder's U.S. patent for a total cash and equity consideration of $3.28M in cash, the issuance of 753,522 shares of CBMG common stock and the issuance of 75,000 shares of CBMG restricted stock units. The acquisition will include the Intellectual Properties, or IP, assets and talents of this cancer-therapy-focused developmental stage company. The IP is comprised of T Cells Receptor , or TCR, clonality analysis technology and T Central Memory Cell, or Tcm, and Dendritic Cell, or DC, preparation methodologies. The TCR clonality analysis technology is based on the use of the multiple sets of unique primers to amplify 22 regions of the TCR and thereby detect clonal expansions related to antigen stimulation of the immune system, which enables the assessment of tumor specific immunity with high accuracy and efficiency. Tcm cells are the subpopulation of T lymphocytes with key characteristics including high potency and long-term memory of specific immunity; and they are the key element of immunocellular fortification against tumors, infections and immune disorders. AG had approximately $1.1M budding lab test kit sales and technical services revenue in 2013. The company expects to close the transaction and add 33 employees in Q3. Currently under China's regulation, cancer patients treated with T-cell technology are entitled to medical insurance coverage in approximately ten provinces. According to the Administration of Clinical Application of Medical Technology, China has numerous AAA hospitals for in-patient cancer treatment and the number of cancer patients in China is growing rapidly. There are 3,120,000 new cancer patients in China annually, or 8,550 new patients per day.
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February 4, 2016
09:11 EDTCBMGCellular Biomedicine announces $43.13M strategic investment from Dangdai
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