Cellular Biomedicine Group Announces CEO Cap To Be Replaced By Liu

Cellular Biomedicine Group Inc.

("CBMG" or the "Company"), a biomedicine firm engaged in the development of effective stem cell therapies for degenerative diseases and immunotherapies for cancer, today announced that Wei (William) Cao has notified the Company's Board of Directors that, for family reasons, he will not seek renewal of his employment contract as Chief Executive Officer upon completion of his current term on February 6, 2016, but will remain as a Director of CBMG. A committee of the Board of Directors has been established to oversee the professional recruitment of a new Chief Executive Officer. In the interim, Tony Liu, currently the Company's Chief Financial Officer, will assume full responsibilities as the interim Chief Executive Officer of the Company pending the selection of a new Chief Executive Officer. Steve Liu, Chairman of the Board issued the following statement: "We would like to thank William for his tireless and significant contributions to the Company. Under his leadership, the Company was able to execute on its strategic plan to develop and engage in robust clinical programs for therapeutics that would potentially serve large addressable markets. The Company also strengthened its leadership in the immunotherapy field and built a rich pipeline in both the CAR-T and Regenerative Medicine segments. We believe William's vision, leadership and strategic initiatives will generate breakthrough discoveries and therapies in years to come. We are very pleased to be able to access his experience and expertise as a continuing member of the Board." William Cao, Chief Executive Officer, said: "I would like to express my appreciation to the Board, colleagues, shareholders, and the partners with whom I have worked over the past five years. I am proud of being one of the founding executives of the Company and having the opportunity to build CBMG from its infancy. CBMG has outstanding prospects as an emerging global integrated pure-play biotech company focused on cancer and degenerative diseases. I am confident that the strength of the Company's unique technologies, promising pipelines in China and potentially in the rest of the world, and its talented team will deliver significant value in the years ahead."