Healthcare Industry News:  bone graft 

Devices FDA

 News Release - October 29, 2008

Osteotech Receives FDA Clearance for its Next Generation Grafting Material

EATONTOWN, N.J., Oct. 29 (Healthcare Sales & Marketing Network) -- Osteotech, Inc. (Nasdaq: OSTE ), a leader in the emerging field of biologic solutions for regenerative healing, announced today that it has received 510(k) clearance from the United States Food and Drug Administration ("FDA") for its next generation grafting material. Osteotech received 510(k) clearance for this material as a bone graft substitute, and as a bone void filler, for use in the spine, pelvis and extremities.

Sam Owusu-Akyaw, Osteotech's President and Chief Executive Officer, stated, "Receiving FDA clearance for our next generation grafting material is a great accomplishment for our team and another key milestone in our strategic plan. During our November 7, 2008 conference call, we will provide much more insight into this grafting material, its procedural uses and the timeline for introduction."

Osteotech, Inc., headquartered in Eatontown, New Jersey, is a global leader in providing OsteoBiologic solutions for regenerative medicine to support surgeons and their patients in the repair of the musculoskeletal system through the development of innovative therapy-driven products that alleviate pain, promote biologic healing and restore function. For further information regarding Osteotech, or this press release, please go to Osteotech's website at www.osteotech.com.

This press release may contain forward-looking statements (as such are defined in the Private Securities Litigation Reform Act of 1995) regarding the Company's future plans, objectives and expected performance. Any such forward- looking statements are based on assumptions that the Company believes are reasonable, but are subject to a wide range of risks and uncertainties and, therefore, there can be no assurance that actual results may not differ materially from those expressed or implied by such forward-looking statements. Factors that could affect these results are detailed from time to time in the Company's periodic reports filed with the Securities and Exchange Commission.


Source: Osteotech

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