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Osiris Therapeutics Announces Dwayne Montgomery as General Manager of Orthopedics and Sports Medicine

Osiris Therapeutics, Inc. (NASDAQ:OSIR), the leading stem cell company focused on developing and marketing products to treat conditions in wound care, orthopedic and sports medicine markets, is pleased to announce the appointment of Dwayne Montgomery to General Manager, Orthopedics and Sports Medicine, reporting to Lode Debrabandere, Ph.D., President and Chief Executive Officer.

"Osiris continues its transformation from being primarily R&D oriented to one also capable of commercializing and supporting newly launched products in our targeted therapeutic areas - wound care, orthopedics and sports medicine,” said Lode Debrabandere, Ph.D., President and CEO. “We are building a strong executive team with the commercial, reimbursement and R&D expertise needed to accomplish our ambitious goals. With more than 20 years of experience in orthopedics, Dwayne brings a depth of general management experience and leadership that will be instrumental to our overall growth strategy."

Most recently, Mr. Montgomery served as the Senior Vice-President of Sales and Marketing for IlluminOss Medical where he was responsible for worldwide commercialization of the Photodynamic Bone Stabilization System within the orthopedic trauma market. Prior to this, he served as the Vice-President of Commercial Operations at TranS1, Inc. (now Baxano Surgical), where he was responsible for North American spine sales and sales operations. Prior to TranS1, Inc., Mr. Montgomery held progressing roles of executive responsibility at Smith & Nephew, Inc. Mr. Montgomery served as Vice President of Sales & Marketing for the Clinical Therapies Global Business which grew to $180 million, achieving accelerated growth of 50% quarter-over-quarter. This division eventually became Bioventus, Inc. Mr. Montgomery was promoted to Vice President and General Manager for the Orthopedics Global Trauma Business at Smith & Nephew, with full P&L responsibility leading a commercial team of 435 professionals and generating over $400 million in yearly revenue.

“Osiris is leading the way in regenerative medicine. It is a privilege to join this world-class team that delivers innovations backed by exceptional science and clinical data,” said Mr. Montgomery. “I’m looking forward to leading the Orthopedics and Sports Medicine Business and accelerating our revenue growth based on the unique benefits of OvationOS and Cartiform.”

Mr. Montgomery received a Bachelor of Science Degree in Chemistry from the University of North Alabama and a M.B.A. from the Massey School of Business at Belmont University.

About Osiris Therapeutics

Osiris Therapeutics, Inc. is the leading stem cell company, having developed the world’s first approved stem cell drug, remestemcel-L for graft versus host disease. Osiris’ products include Grafix® and Ovation® for acute and chronic wounds, Cartiform®, a viable cartilage mesh for cartilage repair and the latest addition to Osiris’ line of products, OvationOS™, a viable bone matrix. Osiris is a fully integrated company with capabilities in research, development, manufacturing and distribution. Osiris has developed an extensive intellectual property portfolio to protect the company's technology and commercial interests.

Osiris, Grafix, Ovation and Cartiform are registered trademarks of Osiris Therapeutics, Inc. More information can be found on the company's website, www.Osiris.com. (OSIR-G)

Forward-Looking Statements

This press release contains forward-looking statements. Forward-looking statements include statements about our expectations, beliefs, plans, objectives, intentions, assumptions and other statements that are not historical facts. Words or phrases such as "anticipate," "believe," "continue," "ongoing," "estimate," "expect," "intend," "may," "plan," "potential," "predict," "project" or similar words or phrases, or the negatives of those words or phrases, may identify forward-looking statements, but the absence of these words does not necessarily mean that a statement is not forward-looking. Examples of forward-looking statements may include, without limitation, statements regarding any of the following: our product development efforts; our clinical trials and anticipated regulatory requirements, and our ability to successfully navigate these requirements; the success of our product candidates in development; status of the regulatory process for our product and product candidates; implementation of our corporate strategy; our financial performance; our product research and development activities and projected expenditures, including our anticipated timeline and clinical strategy for marketed Biosurgery products (including Grafix, Ovation, OvationOS and Cartiform) and Biosurgery products under development; our cash needs; patents, trademarks and other proprietary rights; the safety and ability of our products and potential products to address medical needs; our ability to supply a sufficient amount of our marketed products or product candidates and, if approved or otherwise commercially available products, to meet demand; our costs to comply with governmental regulations; our plans for sales and marketing; our plans regarding facilities; types of regulatory frameworks we expect will be applicable to our products and potential products; and results of our scientific research. Additional risks and uncertainties related to the sale of our ceMSC assets and the related transactions contemplated by the Purchase Agreement with Mesoblast include typical business transactional risks, the risk of changing relationships with customers, suppliers or employees, the risk associated with the disposition of our ceMSC assets and the increased relative dependence on and importance of our other business including our Biosurgery business, the risk that we may not be able to fully benefit from the transactions through milestone payments or royalties, payment risks, including the risk associated with receipt of equity as consideration, in lieu of cash, and the risk of dependence on others to achieve results upon which milestone or royalty payments to us are conditioned. Forward-looking statements are subject to known and unknown risks and uncertainties and are based on potentially inaccurate assumptions that could cause actual results to differ materially from those expected or implied by the forward-looking statements. Our actual results could differ materially from those anticipated in forward-looking statements for many reasons, including the factors described in the section entitled "Risk Factors" in our Annual Report on Form 10-K and other Periodic Reports filed on Form 10-Q, with the United States Securities and Exchange Commission. Accordingly, you should not unduly rely on these forward-looking statements. We undertake no obligation to publicly revise any forward-looking statement to reflect circumstances or events after the date of this press release or to reflect the occurrence of unanticipated events.

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