X0202 4 2007-12-19 0 0001360886 OSIRIS THERAPEUTICS, INC. OSIR 0001008317 FRIEDLI PETER C/O OSIRIS THERAPEUTICS, INC. 7015 ALBERT EINSTEIN DRIVE COLUMBIA MD 21046 1 0 1 0 Chairman Common Stock 2007-12-19 4 P 0 100000 12.37 A 9174884 D Common Stock 2007-12-19 4 P 0 662746 13.00 A 9837630 D Common Stock 4969245 I See Footnote Promissory Note 13.00 2007-12-19 4 M 0 472222 13 D 2007-02-10 2009-04-30 Common Stock 662746 1000000 D Shares acquired in a private placement under Regulation S of the Securities Act of 1933. The securities have not been registered under the United States Securities Act of 1933, as amended, or any state securities laws. Pursuant to the terms of the placement, the holders are provided demand registration rights for the purchased shares. Represents the conversion of Convertible Promissory Notes dated October 30, 2006 of the issuer in the original principal amount of $8,500,000, together with accrued interest since October 31, 2007, at the conversion price of $13.00 per share. The Reporting Person holds indirect beneficial ownership of 625 shares held by the Reporting Person's mother; 3,963,620 shares held by Venturetec, Inc.; 1,000,000 shares held by US Venture 05, Inc.; and 5,000 shares held by Joyce Ltd. The Reporting Persons holds approximately a 3% interest in Venturetec, Inc. and serves as its president; and holds 100% interest in and controls Joyce Ltd. The Reporting Person disclaims beneficial interest of the shares held by his mother and disclaims beneficial ownership of the shares held by Venturetec, Inc. and US Venture 05, Inc. beyond the extent of his pecuniary interest therein. Peter Friedli 2007-12-20