A biomaterial including a porous biocompatible structure having interconnected pores, wherein the pores have interior walls and are interconnected by passageways, the interior walls and passageways being coated with an osteoinductive aqueous demineralized bone extract solution, the aqueous demineralized bone extract solution including growth factors, proteins, a demineralized bone matrix and at least one of a weak acid and a guanidine hydrochloride, wherein the demineralized bone matrix is present per 100 g of the solution in an amount of from about 2 g to about 10 g.