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Osteotech Reports Fourth Quarter and Full Year 2008 Financial Results; Company Plans Three Product Launches and Unveilings in 2009; Will Provide 2009 Guidance During Conference Call on March 5, 2009 at 9:00 a.m. EST
Date:3/4/2009

EATONTOWN, N.J., March 4 /PRNewswire-FirstCall/ -- Osteotech, Inc. (Nasdaq: OSTE), a leader in the emerging field of biologic products for regenerative healing, today reported financial results for the fourth quarter and full year ended December 31, 2008.

"The last twelve months were an important transitional time for Osteotech. Our entire team worked diligently to execute our corporate strategy to leverage the Company's proprietary technology portfolio into unique, procedure-driven products providing a stable platform to support long-term sales growth and profitability," said Sam Owusu-Akyaw, President and Chief Executive Officer of Osteotech. "We continued to receive U.S. Food and Drug Administration (FDA) clearances for new products and our 2009 plan includes the launch of our MagniFuse(TM) Bone Graft and Plexur M(TM) Biocomposite, the re-launch of the Plexur P(R) platform and the unveiling of our first product based upon our proprietary human collagen technology platform, the DuraTech(TM) BioRegeneration Matrix. Complementing our progress within product development, we have also continued to execute our strategy to streamline and strengthen our access-based agency sales model. We remain encouraged by the progress we are making in these strategies and believe that once these initiatives are fully executed we will be well positioned to emerge as a leader in regenerative and biologic healing."

Recent and 2008 Corporate Developments

Product Development and Regulatory

  • In February 2009, the Company announced that it received 13485:2003 ISO certification indicating that its facilities meet the international standards for medical device manufacturing.
  • In December 2008, Osteotech initiated a pivotal clinical trial for its DuraTech BioRegeneration Matrix.
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SOURCE Osteotech, Inc.
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Related biology technology :

1. Osteotech Announces Stock Repurchase Program
2. Osteotechs Next Generation Grafting Material, MagniFuse(TM) Bone Graft, a Breakthrough in Bone Regeneration; MagniFuse(TM) Bone Graft seeks to redefine the standard of care in the U.S. bone graft substitute market estimated to be in excess of $1.2 billio
3. Osteotech Reports 2008 Third Quarter Financial Results
4. Osteotech Receives FDA Clearance for its Next Generation Grafting Material
5. Osteotech Announces Third Quarter Earnings Release and Conference Call Schedule
6. Cato T. Laurencin, M.D., Ph.D. to Join Osteotech Board of Directors
7. Osteotechs Plexur M(TM) Biocomposite Receives FDA Clearance in Spine
8. Osteotechs Plexur(R) Technology to Be Used in Craniofacial Reconstruction Program Funded by the Armed Forces Institute of Regenerative Medicine
9. Osteotech Posts First Quarter Earnings Per Share of $.05 on Revenue Growth of 10%
10. Osteotechs Plexur P(TM) Receives FDA Clearance as Bone Void Filler and Bone Graft Extender in Spine
11. Osteotech Renews Tissue Recovery Agreement with the Euro Atlantic Transplant Alliance
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