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Kuros Biosciences reports results for the full year 2022
. Financial highlights Direct sales of MagnetOs rose 75% from CHF 6.9 million to CHF 12.1 million in 2022. Total revenue from medical devices CHF 13.3 million, up from CHF 8.3 million Revenue from collaboration CHF 4.7 million vs CHF 5.5 million in 2021, due to licensing agreement with Checkmate Pharmaceuticals Cash & cash equivalents, trade and other receivables amounted to CHF 27.7 million as of December 31, 2022 Eligible for up to USD 21.3 million in further pre-commercial milestones from Checkmate licensing agreement Up to USD 142.5 million in sales milestones from XOMA purchase agreement Operational highlights MagnetOs surpassed the important milestone of 10,000 patients treated First comparison of…
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Kuros Biosciences Announces Publication of Supportive Osteoimmunology Data for MagnetOs Bone Graft
Publications in peer reviewed Journal of Immunology and Regenerative Medicine and Clinical Oral Implants Research Adds to body of evidence for MagnetOs, using data from human and animal models Kuros Biosciences (“Kuros” or the “Company”), a leader in next generation bone graft technologies, today announced the publication of key scientific data on the efficacy of MagnetOs bone graft in two prestigious, peer-reviewed scientific journals. Joost de Bruijn, Chief Executive Officer of Kuros, said: "We are proud to publish these important scientific data, which substantiate the unique mechanism of action of our MagnetOs bone graft. It adds to the substantial body of evidence we are building up for MagnetOs, using data…
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Kuros Biosciences Announces Changes to Executive Management Team
Kuros Biosciences (“Kuros” or the “Company”), a leader in next generation bone graft technologies, announced today the appointment of Daniel Geiger as Chief Financial Officer (CFO) ad interim, effective February 17, 2023. Daniel Geiger succeeds Michael Grau, who will handover his CFO position. Joost de Brujin, Chief Executive Officer of Kuros, said: "We are honoured to welcome Daniel Geiger to our executive team. Daniel is a seasoned financial executive with more than 20 years of international experience in the public listed domain including life sciences. He brings with him extensive expertise in finance transformation, M&A, public offerings, capital market transactions and investor relations, and is a valuable addition to our…
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Kuros Biosciences Completes Enrollment of Randomized Stage of Phase 2 Trial for Fibrin-PTH
. First investigational trial of drug-biologic bone graft for spinal fusion No drug-related Serious Adverse Events (SAEs) reported in randomized stage of the trial Enrollment of additional 20 patients for second non-randomized stage underway Potential to address a major commercial opportunity Kuros Biosciences (“Kuros” or the “Company”), a leader in next generation bone graft technologies, announced today the completion of enrollment in the randomized stage of the STRUCTURE trial, which is investigating the safety and efficacy of Fibrin-PTH (KUR-113) in transforaminal lumbar interbody fusion (TLIF) procedures in patients with degenerative disc disease (DDD). No drug-related SAEs were reported in the first stage of the Phase 2 randomized, dose-finding, multi-center study.…
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Kuros Biosciences completes enrolment in Level 1 clinical study of MagnetOs Granules
Preliminary data shows 78% fusion rate vs 42% for autograft and 55-71% for other synthetic bone grafts Level 1 clinical study compares MagnetOs Granules to local autograft in patients undergoing posterolateral lumbar fusion First of five randomized controlled Level 1 trials for MagnetOs to complete enrolment Kuros Biosciences (“Kuros” or the “Company”), a leader in next generation bone graft technologies, announced today the completion of enrolment in the Level 1 clinical study, comparing MagnetOs Granules to the gold standard of autograft bone in patients undergoing posterolateral lumbar fusion. Data from the prospective, multi-center, intra-patient controlled trial showed a fusion rate for MagnetOs of 78%, compared to 42% for autograft. This…
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Kuros reports 73% increase in MagnetOs sales in first nine months of 2022
Total product sales grow to CHF 8.9 million in the first nine months of 2022 Reaches major milestone of 10,000 patients treated with MagnetOs Positive first clinical data from planned randomized controlled trials Full commercial launch of MagnetOs Flex Matrix that recently received the Spine Technology Award from Orthopedics This Week With recent PIPE cash runway extended into Q2 2024 Schlieren (Zurich), Switzerland, October 26, 2022 – Kuros Biosciences (“Kuros” or the “Company”), a leader in next generation bone graft technologies, today provided an update on its commercial activities. Direct sales of MagnetOs rose 73% in the first 9 months of 2022, from CHF 4.7 million to CHF 8.1 million,…
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Kuros Biosciences awarded 2022 Spine Technology Award for MagnetOs Flex Matrix by Orthopedics This Week
. MagnetOs Flex Matrix recognized as exemplary and innovative spine surgery product Rounds out MagnetOs portfolio to provide more solutions for surgeons Kuros Biosciences (“Kuros” or the “Company”), a leader in next generation bone graft technologies, today announces that it has received the 2022 Spine Technology Award from the widely-read industry publication Orthopedics This Week for its MagnetOs Flex Matrix, a bone graft extender for use in the posterolateral spine. Joost de Brujin, Chief Executive Officer of Kuros, said: "We are honored to receive this prestigious award, which recognizes successful and innovative spine surgery products along with the scientific teams who created them. This award further confirms the value…
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Kuros Biosciences to present positive clinical data for MagnetOs at NASS 2022 Annual Meeting
First clinical data from five planned randomized controlled trials Show favorable fusion rate compared to autograft Launch of MagnetOs Flex Matrix expands perioperative options for surgeons Schlieren (Zurich), Switzerland, 11 October, 2022 – Kuros Biosciences (“Kuros” or the “Company”), a leader in next generation bone graft technologies, announced today that it will present compelling clinical data on MagnetOs bone graft at the 38th Annual Meeting of the North American Spine Society (NASS), being held in Chicago October 12 to 15, 2022, in addition to completing a full commercial launch of MagnetOs Flex Matrix. This first data, from the Company’s five planned randomized controlled trials for MagnetOs, compares MagnetOs Granules to…
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Kuros Biosciences Appoints Chris Fair as Chief Operating Officer
Kuros Biosciences (“Kuros” or the “Company”), a leader in next generation bone graft technologies, announced today that it has appointed Chris Fair as Chief Operating Officer (COO). Mr. Fair is a leader in the musculoskeletal and regenerative medicine industry with more than 25 years of experience in overseeing and guiding organizations through development, growth and transition. Upon assuming the COO role, Mr. Fair stepped down as a member of the Kuros Board of Directors, on which he has served since 2021. Joost de Bruijn, Chief Executive Officer of Kuros, said: "We are very pleased to welcome Chris to the Kuros executive management team as Chief Operating Officer. Chris‘ expertise in…
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Kuros Biosciences announces successful CHF 6.0 million private placement
Kuros Biosciences AG (SIX:KURN) a leader in next generation bone graft technologies, announced today the successful completion of a CHF 6.0 million capital increase through a private placement of 3,750,000 new shares of Kuros with a par value of CHF 0.10 each (the "New Shares" and the "Placement", respectively). The New Shares have been placed at a price of CHF 1.60 each, including nominal value and share premium (the "Subscription Price"). "Successfully completing this private placement provides Kuros with the ability to extend its operating runway into the second quarter of 2024, covering results of the Phase 2 trial of Fibrin-PTH in spinal fusion and enabling us to complete the…
