Osiris Therapeutics Appoints New Chief Financial Officer and Chief Business Officer

COLUMBIA, Md.--(BUSINESS WIRE)--

Osiris Therapeutics, Inc. OSIR, the leading cellular and regenerative medicine company focused on developing and marketing products to treat conditions in wound care, orthopaedics and sports medicine, announced today the appointment of Gregory Law, to serve as Chief Financial Officer and Dwayne Montgomery, to serve as Chief Business Officer.

Mr. Law has been employed with Osiris since 2014 as the Vice President of Finance and Principal Accounting Officer. Mr. Law has more than 25 years of finance and accounting experience in a variety of industries, including biotechnology, telecommunications, energy, private equity and consulting. Prior to joining Osiris in 2014, Mr. Law spent over a decade providing consulting services to public and private companies in the areas of interim CFO and controllership, financial reporting, mergers and acquisitions, valuation and compliance. Before his consulting career, Mr. Law held a number of increasingly responsible finance positions at various public companies, such as XO Communications, MCI and General Electric. He graduated from Virginia Tech with a B.S. in accounting and earned his M.B.A. from George Washington University. He is also CPA licensed in the state of Maryland.

Mr. Montgomery joined Osiris in April 2014 as General Manager for the Orthopaedics and Sports Medicine franchise. In his new role, Mr. Montgomery will be responsible for Global Business Development for all products. He will continue to manage the orthopaedics and sports medicine businesses and execute the commercial launches of BIO^4™ and Cartiform® with Osiris' strategic partners Stryker and Arthrex.

Mr. Montgomery brings more than two decades of extensive medical device experience in global commercialization and strategic planning. Prior to joining Osiris, Mr. Montgomery served as a commercial executive for venture-backed organizations in the trauma and spine markets. These included the role of Senior Vice President Sales and Marketing for IlluminOss Medical as well as Vice President Commercial Operations for Baxano Surgical. Mr. Montgomery also held progressing roles of executive responsibility at Smith & Nephew, Inc., serving as Vice President and General Manager for the Orthopaedic Global Trauma Business. He also held the role of Vice President Sales and Marketing for the Clinical Therapies Global Business, a division that eventually became Bioventus, Inc. Mr. Montgomery earned a B.S. in chemistry from the University of North Alabama and a M.B.A. from the Massey School of Business at Belmont University.

"I am pleased that the Board has confirmed Greg as Chief Financial Officer and Dwayne as Chief Business Officer," said Lode Debrabandere, Ph.D., President and Chief Executive Officer. "Both Greg and Dwayne are key members of the leadership team and their specific financial and commercial skillsets will accelerate our strategic growth plans. We wish both Greg and Dwayne great successes as they take on their new roles. I also want to thank Phil Jacoby, Osiris' previous CFO for his many years of hard work and loyalty to the company. Phil will assist Greg during the transition and remain involved in the finance department."

About Osiris Therapeutics

Osiris Therapeutics, Inc., based in Columbia, Maryland, is the world leader in researching, developing and marketing regenerative medicine products that improve health and lives of patients and lower overall healthcare costs. Having developed the world's first approved stem cell drug, the company continues to advance its research and development in biotechnology by focusing on innovation in regenerative medicine – including bioengineering, stem cell research and viable tissue based products. Osiris has achieved commercial success with products in orthopaedics, sports medicine and wound care, including BIO⁴, Cartiform and Grafix®.

Osiris, Grafix, Cartiform and Ovation are registered trademarks of Osiris Therapeutics, Inc. BIO⁴ is a trademark of Stryker Corporation SYK. More information can be found on the company's website, www.Osiris.com. (OSIR-G)

Forward-Looking Statements

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