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Kuros Biosciences AG / Key word(s): Miscellaneous
02-Jun-2021 / 07:00 CET/CEST
Release of an ad hoc announcement pursuant to Art. 53 KR
The issuer is solely responsible for the content of this announcement.
- MagnetOs U.S. Q1 sales accelerate, rising 117% over Q1 2020
- European distribution network expansion ahead of schedule
- Key commercial events in Australia, UK
Schlieren (Zurich), Switzerland, June 2, 2021 - Kuros Biosciences (SIX: KURN), a leader in next generation bone graft technologies, today pro-vided an update on its commercial activities, with sales of MagnetOs bone graft and progress in establishing distributor networks both exceeding management expectations.
Direct sales of MagnetOs in the U.S. accelerated in Q1 2021, with an increase of 117% over the same quarter in 2020. In Europe, third-party distributor agreements have recently been signed in Spain, Italy, Norway, Sweden, Denmark, and France. These add to existing distribu-tor network agreements in Switzerland and the UK.
The company also made additional marketing in-roads in other important territories. In the UK, the company was awarded a major tender to provide Orthopaedic Spinal & Scoliosis Im-plants, Consumables & Equipment to NHS National Services Scotland, through its UK stocking distributor, Axis Spine Limited. In Australia, the demand for MagnetOs from Kuros' distribu-tor, Connexion Surgical, has surged following a key opinion leader (KOL) meeting co-organized by Kuros and Connexion.
Joost de Bruijn, Chief Executive Officer of Kuros, said: 'The enthusiastic takeup and feedback from surgeons on our next-generation bone graft MagnetOs has surpassed our expectations. Delivering this level of progress ahead of budget in the midst of hospital disruptions and travel restrictions imposed by the COVID-19 pandemic is testament to the value of our lead product and the drive of our commercial team.'
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About MagnetOs
MagnetOs bone graft has an advanced submicron surface topography that leads to 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 toward the bone-forming pathway, an effect that is so potent that bone can be formed even in soft tissues without the need for added cells or growth factors. This ground-breaking research led to Kuros attaining an osteoinductive claim for MagnetOs in Europe and it is now supported by more than three years of clinical experience since its launch in the United Kingdom in May 2017. Results from in vitro or in vivo laboratory testing may not be predictive of clinical experience in humans. MagnetOs is not cleared by 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's bone graft substitute, MagnetOs, is commercialized in the US and UK for use in posterolateral spinal fusions. Kuros's lead product in development, Fibrin PTH, a drug-biologic combination for spinal interbody fusion, has entered a phase 2 clinical trial in the U.S. Kuros is located in Schlieren (Zurich), Switzerland, Bilthoven, the Netherlands and Burlington (MA), U.S.A. The Company is listed according to the International Reporting Standard on the SIX Swiss Exchange under the symbol KURN. Visit www.kurosbio.com for additional information on Kuros, its science and product pipeline.
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.
End of ad hoc announcement
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