EATONTOWN, N.J., Nov. 30 /PRNewswire-FirstCall/ -- Osteotech, Inc.
(Nasdaq: OSTE) announced today that it has entered into a license agreement
with Bacterin International, Inc., a biologics company and manufacturer of
elutive bioactive coatings for medical devices. Under the agreement,
Bacterin receives a nonexclusive license to Osteotech's U.S. Patent Nos.
5,284,655 and 5,290,558 relating to flowable demineralized bone powder
compositions, which are two of the patents that underlie Osteotech's
proprietary Grafton(R) DBM line of tissue grafts. These same patents were
the subject of litigation in 2001 and were found to be valid by a federal
court jury. The agreement also provides Osteotech with option rights to
certain Bacterin technology and intellectual property.
Sam Owusu-Akyaw, Osteotech's President and Chief Executive Officer,
stated, "We have amassed a large and well versed patent estate in
osteobiologics and, when appropriate, we intend to leverage these assets
through collaborations and licensing arrangements. If necessary, we will
vigorously defend our intellectual property."
Certain statements made in 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 the actual results may not differ
materially from those expressed or implied by such forward-looking
statements. Certain factors that could cause actual results to differ
materially include, but are not limited to, factors detailed from time to
time in the Company's periodic reports (including the Annual Report on Form
10-K for the year ended December 31, 2005 and the Form 10-Q for each of the
first three quarters of 2006) filed with the Securities and Exchange
Commission. All information in this press release is as of November 30,
2006 and the Company undertakes no duty to update this information.
Osteotech, Inc., headquartered in Eatontown, New Jersey, is a leading
provider of human bone and bone connective tissue for transplantation and
an innovator in the development and marketing of biomaterial and implant
products for musculoskeletal surgery. For further information regarding
Osteotech, or this press release, please go to Osteotech's website homepage
at http://www.osteotech.com and to Osteotech's Financial Information
Request Form website page at http://www.osteotech.com/finrequest.htm.
SOURCE Osteotech, Inc.
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Related links:
http://www.osteotech.com
http://www.osteotech.com/finrequest.htm
http://www.prnewswire.com/comp/668050.html/
CONTACT:
Mark H. Burroughs of Osteotech, Inc.,
+1-732-542-2800
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