Osiris Purchased by NuVasive
The Osteocol unit of Osiris Therapeutics, Incorporated is going to be acquired by NuVasive, Incorporated. The deal includes $35 million cash. NuVasive may pay out additional funds as future milestone payments of up to $50 million in either cash or a combination of cash and NuVasive stock. The purchase is expected to close during the third quarter of this year.
NuVasive notes that the purchase will assist with the expansion of their biologics growth platform and the growth of biotechnology products. One of the products available that will be acquired is the bone graft stem cell treatment under development at Osteocol. NuVasive will also acquire a processing facility.
NuVasive is dedicated to the development of products that support minimally invasive treatment of the spine. News of the deal was posted on the the company’s website.
May 12, 2008 Related topics: Mergers & Acquisitions