Osiris Therapeutics to Cut 80 Jobs

Stem cell research firm Osiris Therapeutics will accelerate the transfer of its Osteocel unit to NuVasive, and terminate 80 jobs in its Osteocel unit.

The faster transfer of the Osteocel business, which Osiris had agreed to sell to NuVasive last year, would lead to a $30 million payment to Osiris.

Osiris has produced and marketed Osteocel since July 2005 for regenerating bone in orthopedic indications.

Osiris will cease manufacturing at its Columbia, Maryland Osteocel facilities on March 31st.