Exchange Database
Chinese firm rings NASDAQ bell
China-based and NASDAQ-listed biotech company Cellular Biomedicine Group rang the closing bell at the midtown stock exchange, having just gone public at the market two months earlier. William Cao, the CEO of Cellular Biomedicine Group, told China Daily that US and Chinese biotechnology and pharmaceutical companies can work together to capitalize on the growing reliance on immune cell therapy. Cellular Biomedicine Group (CBMG) is a biotechnology company that focuses on cell-based products for disease treatment in China and is working on expanding into the US.
Outcomes:
Founded in 2009, Shanghai-based CBMG focuses on developing medication and therapies for those suffer from cancer and degenerative diseases such as osteoarthritis. With more than 3 million new patients in China being diagnosed with cancer every year and 60 million patients with osteoarthritis-a big disease area-the China market is the global market. "[US companies and their] technology, operations, scale, they can all come to China where we have connections with local hospitals" as well as research on the local market," CBMG's Chief Financial Officer Tony Liu said.
Government?:
No
Type of Exchange:
business
Partners:
Cellular Biomedicine Group
NASDAQ
Participants (Types):
businesspeople, investors
Exchange Date:
Monday, August 18, 2014
Continuing:
No
Image:
Location:
New York, USA
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