Osiris Therapeutics, Inc. (NASDAQ:OSIR), Stryker Corporation (SYK) Enter Strategic Partnership to Develop Viable Bone Matrix

Osiris Therapeutics, Inc. (NASDAQ:OSIR) is higher in the after hours session after the stem cell company said it has entered into an exclusive, worldwide partnership with Stryker Corporation (NYSE:SYK) for the commercialization and development of OSIR’s viable bone matrix tissue form. Shares are up 4% at $15, within a 52-week range of $11.80 – $18.41.

The agreement provides Stryker Corporation (SYK) with exclusive, worldwide rights to OSIR’s viable bone matrix under the name BIO4. OSRI will be responsible for the manufacturing, continued research and product improvement activities while SYK will be responsible for the commercialization and marketing of BIO4.

The companies also said that to demonstrate the differentiating benefits and ensure the continued success and growth of this innovative product, they will collaborate on the design and conduct of future clinical development programs.

SYK shares are down 0.08% at $94.92 in late trading, with a 52-week range of $73.85 – $96.61.

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