Kuros reports a 150% increase in direct MagnetOs sales in the first nine months of 2023 and announces changes within the Executive Management

• Direct MagnetOs sales grew to CHF 20.4 million in the first nine months of 2023, climbing from CHF 8.1 million in the same period in 2022.  Total medical device sales accelerated from CHF 9.0 million to CHF 21.3 million
• The Medical Devices segment achieved a positive EBITDA of CHF 3.8 million driven by MagnetOs
• Cash & cash equivalents amounted to CHF 14.8 million and funds available (including trade, and other receivables) totaled at CHF 21.4 million as of September 30, 2023
• Transition of responsibilities in the Executive Management to emphasize the advanced commercial nature of the company:
  • Current CEO Joost de Bruijn will refocus on the Company’s scientific, R&D and product pipeline activities and strategic opportunities, transitioning to Executive Director and President of Innovation & Strategy
  • Chris Fair will take on the role of CEO to focus on the acceleration of the commercial roll-out of MagnetOs and the continued development of the Fibrin PTH platform

Schlieren (Zurich), Switzerland, October 12, 2023 – Kuros Biosciences (“Kuros” or the “Company”), a leader in next-generation bone graft technologies, today provides an update on its commercial activities for the first nine months of 2023 and announces changes and a transition in responsibilities within the Executive Management.

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About MagnetOs

MagnetOs is a bone graft like no other: thanks to its NeedleGripTM surface technology, it grows bone even in soft tissues. This surface technology provides traction for our body’s vitally important ‘pro-healing’ immune cells (M2 macrophages). This in turn, unlocks previously untapped potential to stimulate stem cells – and form new bone throughout the graft. The growing body of science behind NeedleGrip is called osteoimmunology. But for surgeons and their patients it means one thing: a more predictable fusion.*†‡1-6

Indications statement

Please refer to the instructions for use for your local region for a full list of indications, contraindications, warnings, and precautions.

About Fibrin-PTH (KUR-113)

Fibrin-PTH (KUR-113) consists of a natural fibrin-based healing matrix with an immobilized targeted bone growth factor (truncated human parathyroid hormone (PTH) analog. Fibrin-PTH (KUR-113) is designed to be applied directly into and around an intervertebral body fusion device as a gel, where it polymerizes in situ. Fibrin-PTH (KUR-113) functions via the well-established mechanism of action of parathyroid hormone; has been demonstrated in animal models of spinal fusion to be comparable to rhBMP-2; and has been shown in preclinical studies to be easy to use and ideal for open or minimally invasive technique74*. The safety & efficacy of Fibrin-PTH (KUR-113) has not yet been evaluated for spinal fusion in humans. 

About Kuros Biosciences

Kuros Biosciences is a fast-growing leader in the development of spinal fusion biologics that ease the burden of back pain. With locations in the United States, Switzerland and the Netherlands, the company is listed on the SIX Swiss Exchange. The company’s first commercial product, MagnetOs, is a unique synthetic bone graft that has already been used successfully across three continents and in over 15,000 spinal fusion surgeries. The next candidate in the Kuros pipeline is Fibrin-PTH – the first drug-biologic combination for interbody spinal fusions, currently undergoing a Phase 2 clinical trial in the U.S. For more information on the company, its products and pipeline, visit kurosbio.com.

Forward Looking Statements

This media release contains certain forward-looking statements that involve risks and uncertainties that could cause actual results to be materially different from historical results or from any future results expressed or implied by such forward-looking statements. You are urged to consider statements that include the words “will” or “expect” or the negative of those words or other similar words to be uncertain and forward-looking. Factors that may cause actual results to differ materially from any future results expressed or implied by any forward-looking statements include scientific, business, economic and financial factors. Against the background of these uncertainties, readers should not rely on forward-looking statements. The Company assumes no responsibility for updating forward-looking statements or adapting them to future events or developments.

1. Van Dijk, et al. eCM. 2021; 41:756-73.
2. Duan, et al. eCM. 2019; 37:60-73.
3. Van Dijk, et al. Clin Spine Surg. 2020;33(6): E276-E287.

4. Van Dijk, et al. JOR Spine. 2018 ; e1039

5. Van Dijk, et al. J Biomed Mater Res. Part B: Appl Biomater.

6. Data on file, 2020 (Barrere et al., “From benchtop to clinic: a complete translational analysis of the innate human immune response to submicron needle-shaped surface features and its relevance to bone healing and spinal fusion”).

7. Data on file.

*Results from in vivo laboratory testing may not be predictive of clinical experience in humans. For important safety and intended use information please visit kurosbio.com.
†MagnetOs is not cleared by the FDA or TGA as an osteoinductive bone graft.
‡MagnetOs has been proven to generate more predictable fusions than two commercially available alternatives in an ovine model of posterolateral fusion.