Global medical technology company Stryker Corporation (SYK) and cellular regenerative medicine company Osiris Therapeutics, Inc. (OSIR) recently entered into an exclusive, worldwide partnership for the commercialization and development of the latter’s viable bone matrix tissue form.
Under the agreement, Stryker will attain exclusive, worldwide rights to Osiris’ viable bone matrix under the name BIO4. While Osiris will be responsible for the manufacturing, continued research and product improvement activities, Stryker will engage in the commercialization and marketing of BIO4. However, both organizations will team up on the design and conduct of future clinical development programs of the product.
BIO4 – a bone allograft that contains both viable cells and growth factors – was developed by Osiris utilizing its proprietary Biosmart cryopreservation technology. Originally branded as OvationOS, Osiris’ viable bone matrix tissue form will now be marketed by Stryker under the brand name BIO4.
This partnership strategically aligns one of Osiris’ leading regenerative medicine technologies with Stryker’s innovative medical device portfolio. Stryker, being a global player in marketing orthopaedic and spine products, enjoys a competitive position to maximize the market potential of Osiris’ next generation viable bone matrix.
In October this year, Osiris entered into another commercial and development partnership for its cartilage product – Cartiform – with global medical device company Arthrex, Inc. Per the deal, Arthrex will gain exclusive commercial distribution rights to Cartiform.
The partnership with Arthrex – one of the leading industrial players in sports medicine, as well as in foot and ankle devices and instrumentation – will enable Osiris to address unmet needs in the cartilage repair market which represents significant opportunities.
Currently, both Stryker and Osiris carry a Zacks Rank #3 (Hold).
Better-ranked stocks in the med-biomed/generic industry include Affymetrix Inc. (AFFX) and ANI Pharmaceuticals, Inc. (ANIP). Both the stocks sport a Zacks Rank #1 (Strong Buy).
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