Medical device maker NuVasive is buying Osteocel, Osiris' biologics business, for $35 million up front and an additional $50 million in milestone payments. The Osteocel business includes an adult stem cell bone graft product containing beneficial properties similar to autograft, as well as a processing facility with significant supply stream capacity. Osiris said the move will allow it to focus on launching its core products. "This transaction provides Osiris with a substantial amount of non-dilutive capital over the near-term, and shapes the organization in a way that is optimal for both the Osteocel employees and the long term mission of Osiris," said Osiris' CEO Randal Mills.
- check out the NuVasive release [1]
Related Articles:
Osiris reports major gains in stem cell trial [2]
Osiris gets poor adult stem cell therapy results [3]
Osiris granted orphan status [4]
Osiris gains $50M [5]
NuVasive offers $200M convertible notes [6]
Links:
[1] http://www.fiercebiotech.com/press-releases/nuvasive-signs-definitive-agreement-acquire-osteocel-biologics-business-osiris-therap
[2] http://www.fiercebioresearcher.com/story/osiris-reports-major-gains-in-stem-cell-trial/2007-03-27
[3] http://www.fiercebiotech.com/story/osiris-gets-poor-adult-stem-cell-therapy-results/2007-02-14
[4] http://www.fiercebiotech.com/story/spotlight-osiris-granted-orphan-status/2005-12-21
[5] http://www.fiercebiotech.com/story/osiris-gains-50m/2005-06-10
[6] http://www.fiercebiotech.com/press-releases/nuvasive-offer-200-million-convertible-senior-notes-due-2013