PALO ALTO, Calif., Nov. 5, 2013 /PRNewswire/ -- Cellular Biomedicine Group, Inc. (OTCQB: CBMG), a biomedicine firm engaged in the development of new treatments for degenerative and cancerous diseases, today announced that it has received approval to conduct a Phase IIb clinical trial for ReJoin™, a human adipose-derived mesenchymal precursor cells (haMPC) therapy bio-engineered for Knee Osteoarthritis (KOA). The trial tests the safety and efficacy of intra-articular injections of autologous (patient's own) ReJoin™ formula in order to reduce inflammation and repair damaged joint cartilage.
"The approval of our Phase IIb clinical trial design is a major milestone for Cellular Biomedicine Group," said Dr. William Cao, CEO of Cellular Biomedicine Group. "We are pleased to receive such expeditious validation from Renji Hospital and its regulatory offices of our Phase I/IIa data package, which showed a high safety profile and positive results reflected by the osteoarthritis indices and pain indices."
In addition to Shanghai's Renji Hospital, a tertiary hospital affiliated with Shanghai Jiao Tong University School of Medicine, there will be several more leading hospitals joining this multicenter double-blind Phase IIb clinical trial. Enrollment of patients into the Phase IIb study is expected to begin during Q4, 2013.
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, 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.
Director of Corporate Communications, CBMG
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SOURCE Cellular Biomedicine Group