Osiris Therapeutics Inc began operations on December 23, 1992 and was a Delaware corporation until, with approval of stockholders; it reincorporated as a Maryland corporation on May 31, 2010. It is a stem cell company engaged in developing and marketing products to treat conditions in the wound care, orthopedic and sports medicine markets. The Company currently markets and distributes Grafix and Ovation for acute and chronic wounds, Cartiform, a viable cartilage mess for cartilage repair and OvationOS, a viable bone matrix for bone growth. Historically, it has managed its business in two operating segments: Biosurgery segment and Therapeutics segment. Its Biosurgery segment is focused on the development, manufacture and distribution of biologic products for wound healing, cartilage repair, and orthopedics to harness the ability of cells and novel constructs to promote the body's natural healing. It launched Grafix for commercial distribution in 2010, began distribution of Ovation in early fiscal 2011, and began distribution of Cartiform and OvationOS during 2013. Its Therapeutics segment focused on developing and marketing products to treat medical conditions in the inflammatory and cardiovascular disease areas. Given the sale of its Therapeutics segment, the Company now has only one operating segment in the United States of America. Its current Biosurgery products are derived from donated human tissue for transplant. Grafix is derived from human placental tissue and OvationOS and Cartiform are derived from donated human cadaveric tissue. Its marketing of Grafix is targeted at facilities caring for chronic wound patients in the United States. The Company competes with other pharmaceutical, biopharmaceutical and biotechnology companies, as well as various academic and research institutions and governmental agencies engaged in drug discovery activities or funding, both in the United States and abroad. Drugs and biologic products are subject to rigorous preclinical and clinical testing and other approval procedures of the U.S. Food and Drug Administration, or FDA, and similar regulatory authorities in other countries.