Use the builtin Convert.ToByte()
and read in chunks of 8 chars without reinventing the thing..
Unless this is something that should teach you about bitwise operations.
Update:
Stealing from Adam (and overusing LINQ, probably. This might be too concise and a normal loop might be better, depending on your own (and your coworker's!) preferences):
public static byte[] GetBytes(string bitString) {
return Enumerable.Range(0, bitString.Length/8).
Select(pos => Convert.ToByte(
bitString.Substring(pos*8, 8),
2)
).ToArray();
}