PALO ALTO, Calif., April 4, 2014 (GLOBE NEWSWIRE) -- Cellular Biomedicine Group, Inc. (OTCQB:CBMG) today announced that is has begun and is enrolling patients for its Phase IIb clinical trial for human ReJoinTM adipose-derived mesenchymal precursor cell (haMPC) therapy for Knee Osteoarthritis (KOA), which tests the safety and efficacy of intra-articular injections of autologous haMPCs in order to reduce inflammation and repair damaged joint cartilage.
The Phase I/IIa clinical trial for this therapy was completed in Q4 2013, with the data analysis thus far concluding that ReJoinTM cell therapy for KOA patients is safe and revealing an increase in cartilage thickness as early as three months after the therapy.
"In the U.S. alone the specific addressable market forecast for KOA stem cell therapy in 2014 is $83 million (860% growth over 2013) and estimated to grow to $1.84 billion by 2020. China, with over 57 million people suffering from KOA, has an even higher demand," commented Bizuo (Tony) Liu, Chief Financial Officer of Cellular Biomedicine Group, Inc., "Thus we are very pleased to reach this key milestone bringing us one step closer to improving the quality of life for countless patients."
About the Clinical Trial
Cellular Biomedicine Group's Phase IIb clinical trial further studies the efficacy of CBMG's proprietary adipose-derived mesenchymal precursor cell (haMPC)-based therapy ReJoinTM for KOA. The multi-center study calls for 48 patients to participate in a randomized, single blind trial.
Knee Osteoarthritis in China
There are approximately 57 million people in China suffering from KOA. As drug-based methods of management to date are ineffective, the quality of life for KOA patients is compromised, and many patients with this disease will degenerate to the point of requiring invasive artificial joint replacement surgery.
About Cellular Biomedicine Group
Cellular Biomedicine Group, Inc. develops proprietary cell therapies for the treatment of certain degenerative diseases and cancers. Our developmental stem cell, progenitor cell, and immune cell projects are the result of research and development by scientists and doctors from China and the United States. Our flagship GMP facility in China, consisting of eight independent cell production lines, is designed, certified and managed according to U.S. standards. To learn more about CBMG, please visit: www.cellbiomedgroup.com
Statements in this press release relating to plans, strategies, trends, specific activities or investments, and other statements that are not descriptions of historical facts may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking information is inherently subject to risks and uncertainties, and actual results could differ materially from those currently anticipated due to a number of factors, which include, but are not limited to, risk factors inherent in doing business. Forward-looking statements may be identified by terms such as "may," "will," "expects," "plans," "intends," "estimates," "potential," or "continue," or similar terms or the negative of these terms. Although CBMG believes the expectations reflected in the forward-looking statements are reasonable, they cannot guarantee that future results, levels of activity, performance or achievements will be obtained. CBMG does not have any obligation to update these forward-looking statements other than as required by law.
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Source:Cellular Biomedicine Group Inc.