Cellular Biomedicine Group Announces Key 2014 Milestone Achieved
April 04 2014 - 10:05AM
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
Forward-Looking Statements
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.
CONTACT: Sarah Kelly
Director of Corporate Communications, CBMG
+1 650 566-5064
sarah.kelly@cellbiomedgroup.com
Vivian Chen
Managing Director Investor Relations, Grayling
+1 646 284-9427
cbmg@grayling.com
OR
Christopher Chu
Director Investor Relations, Grayling
+1 646 284-9426
cbmg@grayling.com
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