On 28 April 2023, an Investigational New Drug application for BTM002 was approved by the National Medical Products Administration of China (the "NMPA"). Notification number: 2023LP00797. The IND approval would enable the Company to initiate the Phase III clinical study to evaluate the efficacy and safety of BTM002 in the treatment of pain in osteoarthritis (OA) of the knee in China. 

Osteoarthritis treatment is the 3rd largest treatment market in the world only after the treatment for malignant tumor and diabetes. The number of osteoarthritis patients in China has reached 140 million. Through cutting-edge patented technology, BTM002 provide joint recovery therapy for clinical use and can meet the needs of patients with joint diseases such as long-term pain relief, recovery of knee joint flexibility, etc. Through introducing the products, BTM has preliminary formed an Orthopedic product porttfolio with unique clinical treatment features.