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Osiris Announces a Strategic Partnership with Stryker for Marketing Osiris' Viable Bone Matrix

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Osiris Therapeutics, Inc. (NASDAQ: OSIR), the leading cellular regenerative medicine company focused on developing and marketing products to treat conditions in wound care, orthopaedics and sports medicine, announced today that it has entered into an exclusive, worldwide partnership with Stryker Corporation (NYSE: SYK) for the commercialization and development of Osiris' viable bone matrix tissue form. Stryker is a global leader in medical technology whose products and services are available in over 100 countries around the world. This partnership strategically aligns one of Osiris' leading regenerative medicine technologies with Stryker's innovative medical device portfolio; the resulting synergies will maximize the market potential.

“Osiris was the pioneer in the allograft bone graft market with the introduction of Osteocel® in 2005,” said Lode Debrabandere, Ph.D., President and CEO of Osiris. “This partnership combines the strengths of Stryker, an industry leader in marketing orthopaedic and spine products and of Osiris, the cellular regenerative medicine leader who developed this next generation viable bone matrix.”

The Agreement provides Stryker with exclusive, worldwide rights to Osiris' viable bone matrix under the name BIO4 ™. Osiris will be responsible for the manufacturing, continued research and product improvement activities while Stryker will be responsible for the commercialization and marketing of BIO4. To demonstrate the differentiating benefits and ensure the continued success and growth of this innovative product, both organizations will collaborate on the design and conduct of future clinical development programs.

 

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