Kuros Biosciences reports results for the full year 2018
Schlieren (Zurich), Switzerland, April 12, 2019 – Kuros Biosciences successfully delivered on its
targets in 2018, realizing first sales of MagnetOs and confirming its successful transition into a
fully-fledged orthobiologics company with scientific, clinical, and commercial excellence in bone
regeneration.
Kuros raised gross proceeds of CHF 16.1 million from a capital increase to advance its pipeline, in
particular the Phase II clinical study of its proprietary KUR-113 product candidate in spinal fusion,
and to progress commercialization of MagnetOs in the U.S. and selected geographies in Europe.
The commercial rollout of MagnetOs continues apace in both the U.S. and Europe, after first sales
were recorded in 2018.
Financial highlights:
- CHF 19.0 million cash & cash equivalents, trade and other receivables as at December 31, 2018
- Net operating costs decreased to CHF 14.3 million
Operational highlights:
- First U.S. & European sales of MagnetOs
- Commercial rollout in the U.S. and Europe on track
- Preparation for Phase II clinical study of Fibrin-PTH in spine on track
- Raised CHF 16.1 million to advance product pipeline and commercialization of MagnetOs