EATONTOWN, N.J., March 4 /PRNewswire-FirstCall/ -- Osteotech, Inc.
(Nasdaq: OSTE), a leader in the emerging field of biologic solutions for
regenerative medicine, announced today that it has entered into a
three-year agreement with Harvest Technologies Corporation to distribute
the BMAC(TM) (Bone Marrow Aspirate Concentrate) System. Under the
agreement, Osteotech has the exclusive right to distribute the BMAC(TM)
System for bone regeneration in orthopedic and spinal surgical procedures
in most of the United States.
Sam Owusu-Akyaw, Osteotech's President and Chief Executive Officer,
stated, "Osteotech is very excited to partner with Harvest for the
distribution of the BMAC(TM) System. We believe Harvest's proprietary
BMAC(TM) System will complement Osteotech's proprietary technologies in
Biocomposite, which includes the Plexur P(TM) and Plexur M(TM), and DBM,
furthering Osteotech's regenerative healing equation - Matrix + Signal +
Cell."
Mr. Owusu-Akyaw concluded, "We expect to begin to distribute the
BMAC(TM) System before the end of the second quarter of 2008. We are
currently putting the finishing touches on our roll-out plan and will begin
training our sales team shortly. In conjunction with Harvest, we will
introduce the BMAC(TM) System at the American Academy of Orthopedic
Surgeons 2008 Annual Meeting, March 5 through 7, 2008, in San Francisco,
California."
The BMAC(TM) System, developed and manufactured by Harvest, is the
first "point-of-care" platform that makes possible the use of a clinically
significant quantity of cellular compositions from a small aspirate of bone
marrow. The BMAC(TM) System derives bone marrow aspirate concentrate, which
is a rich source of autologous adult stem cells, in just 15 minutes.
Harvest, a privately held company based in Plymouth, Massachusetts, has
a rich tradition of innovative technologies that are designed to process
and concentrate autologous cells and proteins. The BMAC(TM) System
incorporates a proprietary floating shelf technology which provides the
highest mononuclear cell yield with enhanced viability, osteogenicity and
angiogenesis in both animal and in-vitro testing.
Osteotech, Inc., headquartered in Eatontown, New Jersey, is a global
leader in providing OsteoBiologic solutions for regenerative medicine to
support surgeons and their patients in the repair of the musculoskeletal
system through the development of innovative therapy-driven products that
alleviate pain, promote biologic healing and restore function. For further
information regarding Osteotech or this press release, please go to
Osteotech's website at http://www.osteotech.com.
Certain statements made throughout this press release that are not
historical facts contain forward-looking statements (as such are defined in
the Private Securities Litigation Reform Act of 1995) regarding the
Company's future plans, objectives and expected performance. Any such
forward-looking statements are based on assumptions that the Company
believes are reasonable, but are subject to a wide range of risks and
uncertainties and, therefore, there can be no assurance that actual results
may not differ materially from those expressed or implied by such
forward-looking statements. Factors that could cause actual results to
differ materially include, but are not limited to, the Company's ability to
develop and introduce new products, differences in anticipated and actual
product and service introduction dates, the ultimate success of those
products in the marketplace, the continued acceptance and growth of current
products and services, the impact of competitive products and services, the
availability of sufficient quantities of suitable donated tissue and the
success of cost control and margin improvement efforts. Certain of these
factors are detailed from time to time in the Company's periodic reports
filed with the Securities and Exchange Commission. All information in this
press release is as of March 4, 2008 and the Company does not intend to
update this information.
SOURCE Osteotech, Inc.
 back to top
Related links:
http://www.osteotech.com
http://www.prnewswire.com/comp/668050.html/
CONTACT:
Mark H. Burroughs of Osteotech, Inc.,
+1-732-542-2800
|
