Osiris Appoints Willi Miesch to its Board of Directors, Change in CEO

COLUMBIA, Md., Feb. 06, 2018 (GLOBE NEWSWIRE) -- Osiris Therapeutics, Inc. (Pink Sheets:OSIR) is pleased to announce that its Board of Directors, at a Board Meeting on February 6th, 2018, appointed Mr. Willi Miesch as a Director, upon recommendation of the Nominating Committee. Mr. Miesch joins Osiris (the Company) as an independent Board Member and will stand for election at the Company’s 2018 Stockholders Meeting.

“We are pleased to have Mr. Miesch join Osiris at this important time,” said Peter Friedli, Chairman of the Board. “Willi is an expert in the development and marketing of medical devices, and has extensive entrepreneurial experience in building and developing successful healthcare companies.”

Mr. Miesch has more than 20 years of Chief Executive Officer experience with a track record of achievement in operations, manufacturing and marketing medical technology. Mr. Miesch serves as Chief Executive Officer of Medartis, a Swiss medical technology company. Prior to joining Medartis in 1998, Mr. Miesch held positions with the Institut Straumann AG Switzerland & USA, and Stratec Medical.

Linda Palczuk, President and Chief Executive Officer has announced her decision to resign her position effective on February 9, 2018 to accept the position of Chief Operating Officer at Verrica Pharmaceuticals located in West Chester, Pennsylvania. Ms. Palczuk advised the Company that her decision is due to the new position being a unique opportunity and one that is closer to her home residence.

Jason Keefer, the VP of Marketing for the Company, has been appointed as the Interim President & CEO.

About Osiris Therapeutics

Osiris Therapeutics, Inc., based in Columbia, Maryland, is a world leader in researching, developing, and marketing regenerative medicine products that improve health and lives of patients and lower overall healthcare costs. Having developed the world's first approved stem cell drug, the Company continues to advance its research and development in biotechnology by focusing on innovation in regenerative medicine — including bioengineering, stem cell research and viable tissue based products. Osiris has achieved commercial success with products in wound care, orthopedics, and sports medicine, including Grafix®, Stravix®, BIO4® (available exclusively through Stryker), and Cartiform® (available exclusively through Arthrex). Osiris, Grafix, Stravix and Cartiform are registered trademarks of Osiris Therapeutics, Inc., and BIO4 is a registered trademark of Howmedica Osteonics Corp. Osiris makes no claims concerning functional activities of Grafix or Stravix. Although well characterized in scientific literature and studies, preservation of tissue integrity including cells may not be indicative of clinical outcome. More information can be found on the Company's website, www.Osiris.com. (OSIR-G)

For additional information, please contact:

Diane Savoie
Osiris Therapeutics, Inc.
(443) 545-1839
OsirisPR@Osiris.com

Source:Osiris Therapeutics, Inc.