Osteotech's MagniFuse Bone Graft generates $1M in revenue

Osteotech, Inc. (Nasdaq: OSTE), a leader in the emerging field of biologic products for regenerative healing, announced today that its MagniFuse™ Bone Graft has generated its first $1 million in revenue during the four month period beginning with the limited launch of the product in late October 2009.  Osteotech began the first phase of its strategic limited launch of MagniFuse with the release of three procedure specific forms for posterior cervical and posterolateral spine fusion and spinal deformity procedures.  Since that time, the Company has successfully executed its multi-step launch strategy and will highlight a national launch at the upcoming American Academy of Orthopaedic Surgeons Annual Meeting in New Orleans, Louisiana.

"We are pleased with the initial, positive surgeon feedback on MagniFuse and based on the convergence of science, technology and economic benefit, we believe MagniFuse's unique characteristics can redefine the area of bone grafting," said Sam Owusu-Akyaw, Osteotech's President and Chief Executive Officer.  "We are equally pleased with the high level of enthusiasm among our sales team as they become educated on MagniFuse's unique features, benefits and competitive price point.  Similarly, we are also rapidly gaining traction in the broader surgeon community as the clinical benefits of MagniFuse become more widely known.  The preliminary human clinical data from the first MagniFuse surgical case just became available and appears to show robust bone formation in a posterolateral spine fusion at the six-month time point.  We believe this early data, complemented by the non-human clinical data we already have and an exceptional product value proposition, will all converge and support continued adoption of MagniFuse by surgeons as a go-to biologic for advanced bone grafting procedures."

SOURCE Osteotech, Inc.