OSTEOTECH EXPANDS MARKETING PROGRAM AND IS AWARDED GRAFTON PROCESSED BONE GEL PATENT
OSTEOTECH EXPANDS MARKETING PROGRAM AND IS AWARDED
GRAFTON PROCESSED BONE GEL PATENT
SHREWSBURY, N.J., Dec. 17 /PRNewswire/ -- Osteotech, Inc. (NASDAQ: OSTE) announced today that it was expanding its marketing force significantly to launch Grafton(TM) processed bone gel into the orthopedic and neurosurgical markets. The Grafton gel aids in the formation of new bone thus assisting repair. The gel, which is distributed by the company's not for profit customers, was first introduced into the oral maxillofacial, dental and periodontal markets in August 1991, but Osteotech believes the major market opportunity is the repair of orthopedic and spinal injuries.
Roger Stikeleather, vice president of marketing, reported that Osteotech was "doubling its direct marketing force from 10 to 20 representatives in preparation for the Grafton gel market expansion, the first major marketing program for the company."
Osteotech also announced that the United States Patent and Trademark office awarded U.S. Patent No. 5,073,373 covering the unique formulation of the Grafton processed bone gel. "Our strong proprietary position was one of the important elements in our decision to invest heavily in marketing of the Grafton gel in 1992. The anticipated cost associated with the expansion of the direct marketing force will likely result in lower earnings for at least the first two quarters of 1992," said Patrick McBrayer, president and chief executive officer of Osteotech. McBrayer further noted that, "the Grafton gel's unique capability to aid in bone formation has the potential to markedly increase Osteotech's sales and earnings in this decade and provide a launching pad for other products now in development."
Osteotech is leading processor of human bone and bone connective tissue for transplantation, and an innovator in the development of tissue related biomaterials and pharmaceutical delivery systems for musculoskeletal surgery.
/CONTACT: Michael J. Jeffries of Osteotech, 908-542-2800/
(OSTE) CO: Osteotech, Inc. ST: New Jersey IN: MTC SU: SM-SH -- NY012 -- 2845 12/17/91 09:40 EST