Cellular Biomedicine Group, Inc. announced that its off-the-shelf allogeneic adipose-derived mesenchymal progenitor cell (haMPC) AlloJoin® therapy for Knee Osteoarthritis (KOA) has been approved as the first stem cell KOA drug application in China for a Phase II clinical trial. China NMPA clarified Cell Therapy Regulations in December 2017 (the "Regulation") whereby all cell therapies are being treated as drug NDA/IND. Following a 60-day period of priority review of CBMG's IND application for AlloJoin® for KOA, CBMG's IND application has become the first stem cell drug application to be approved by CDE for a Phase II KOA clinical trial since the Regulation's release.