Osiris Provides an Update on a Clinical Review by Blue Cross Blue Shield Association


Pioneer Founding member
March 16 2016

COLUMBIA, Md.--(BUSINESS WIRE)-- Osiris Therapeutics, Inc. (NASDAQ: OSIR), a leading cellular and regenerative medicine company focused on developing and marketing products to treat conditions in wound care, orthopaedics and sports medicine, announced today that the Blue Cross Blue Shield Association has provided a positive review on Grafix® usage for individuals with diabetic lower-extremity ulcers.

Blue Cross Blue Shield Association reviewed the clinical data on Grafix and stated that there is sufficient evidence to determine that the technology results in a meaningful improvement in the net health outcome. Blue Cross Blue Shield Association, which reviews approximately 500 new medical technologies a year, provides the 36 Blue Cross plans nationwide with documentation that they often rely on to make coverage decisions. Each local Blues Plan, as an independent entity, determines its own medical policies and benefits, and adjudicates its own members' claims.

"We would like to thank the Blue Cross Blue Shield Association (Evidence Exchange) for their thorough review of Grafix for Diabetic Foot Ulcers," said Dwayne Montgomery, President and CEO of Osiris. "As we continue to expand our products' scientific and clinical data portfolio, we look forward to providing the Evidence Exchange with additional data in the near future."

Operating and offering healthcare coverage in all 50 states, the District of Columbia and Puerto Rico, the 36 Blue Cross and Blue Shield companies cover nearly 105 million Americans. Nationwide, more than 96% of hospitals and 92% of professional providers contract with Blue Cross and Blue Shield companies — more than any other insurer.

About Osiris Therapeutics

Osiris Therapeutics, Inc., based in Columbia, Maryland, is a leader in researching, developing and marketing cellular regenerative medicine products that improve the health and lives of patients and lower overall healthcare costs. Having developed the world's first approved stem cell drug, Osiris works to further advance the medical field. Osiris' research and development in biotechnology focuses on innovation in regenerative medicine - including bioengineering, stem cell research and viable tissue based products. Osiris has achieved commercial success with products in orthopaedics, sports medicine and wound care, including BIO4®, a viable bone matrix, Cartiform®, a viable osteochondral allograft, Grafix, a cryopreserved placental membrane, TruSkin™, a viable human skin allograft and Stravix™, a durable placental allograft.

Osiris, Grafix and Cartiform are registered trademarks of Osiris Therapeutics, Inc.; TruSkin and Stravix are trademarks of Osiris Therapeutics, Inc. BIO4 is a registered trademark of Stryker Corporation (NYSE: SYK). More information can be found on the company's website, www.Osiris.com. (OSIR-G)