Kuros Biosciences AG / Key word (s): Miscellaneous
06/02/2021 / 07:00 CET / CEST
Publication of an ad hoc announcement in accordance with 53 LR
The issuer is solely responsible for the content of this announcement.
Schlieren (Zurich), Switzerland, June 2, 2021 – Kuros Biosciences (SIX: KURN), a leading provider of next generation bone graft technologies, today announced an update on its commercial activities. MagnetOs bone graft sales and progress in building distribution networks exceeded management expectations.
Direct sales of MagnetOs in the US accelerated in the first quarter of 2021, up 117% from the same quarter of 2020. In Europe, contracts were recently signed with third-party sellers in Spain, Italy, Norway, Sweden, Denmark and France. These complement existing dealer network agreements in Switzerland and the United Kingdom.
The company also made additional marketing activities in other important areas. In the UK, through its UK stocking retailer Axis Spine Limited, the company received a major tender to supply NHS National Services Scotland with orthopedic spine and scoliosis implants, consumables and equipment. In Australia, the demand for MagnetOs from Kuros’ sales partner Connexion Surgical has risen sharply after an opinion leaders (KOL) meeting jointly organized by Kuros and Connexion.
Joost de Bruijn, Chief Executive Officer of Kuros, said: ‘The enthusiastic reception and surgeon feedback on our MagnetOs for next generation bone grafts have exceeded our expectations. That we are making this ahead of budget amid hospital disruptions and travel restrictions from the COVID-19 pandemic is a testament to the value of our flagship product and the drive of our sales team. ‘
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About MagnetOs
The MagnetOs bone graft has an advanced submicron surface topography that results in the formation of bone in spinal fusion defects rather than scar tissue. In preclinical models, MagnetOs preferentially directs the body’s early wound healing response to the bone-forming pathway, an effect so strong that bone can even be formed in soft tissues without the need for additional cells or growth factors. This groundbreaking research resulted in Kuros receiving an osteoinductive claim for MagnetOs in Europe and is now backed by more than three years of clinical experience since its launch in the UK in May 2017. Results from in vitro or in vivo laboratory tests cannot predict clinical experience in humans. MagnetOs is not approved by the TGA or FDA as an osteoinductive bone graft.
Indications statements
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About Kuros Biosciences AG
Kuros Biosciences is a leader in next-generation synthetic bone graft technologies for targeted and controlled bone healing. Kuros’ bone substitute MagnetOs is marketed in the US and UK for use in posterolateral spinal fusion. Kuros’ lead product in development, Fibrin PTH, an active ingredient / biologic combination for spinal-interbody fusion, is entering a phase 2 clinical trial in the USA. Kuros is located in Schlieren (Zurich), Switzerland, Bilthoven , Netherlands, and Burlington (MA). USA According to the International Reporting Standard, the company is listed on the SIX Swiss Exchange under the symbol KURN. visit www.kurosbio.com for more information on Kuros, its science and product pipeline.
Forward-Looking Statements
This news release contains certain forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from historical results or future results expressed or implied in such forward-looking statements. You are strongly encouraged to consider statements that contain the words “will” or “expect” or the negation of those words or similar words as unsafe and forward-looking. Factors that could cause actual results to differ materially from future results expressed or implied in forward-looking statements include scientific, business, economic and financial factors. Given these uncertainties, readers are cautioned not to place undue reliance on forward-looking statements. The company assumes no responsibility for updating forward-looking statements or for adapting them to future events or developments.
End of the ad hoc announcement