Provided is an injectable implant configured to fit at or near a bone defect to promote bone growth, the injectable implant comprising lyophilized demineralized bone matrix (DBM) being in fiber and particle forms； alginate； and a liquid carrier, wherein the DBM is in an amount of about 20 wt. % to about 40 wt. % of a total weight of the injectable implant, the alginate is in an amount of from about 3 wt. % to about 10 wt. % of the total weight of the injectable implant, and the liquid carrier is in an amount from about 50 wt. % to about 70 wt. % of the total weight of the injectable implant. A moldable implant and methods of making the implants are further provided.
