Kuros ends transformational year with first MagnetOs sales, lead clinical program on track, and successful capital raise
Schlieren (Zurich), Switzerland, December 17, 2018 – Kuros Biosciences (SIX: KURN) has completed a
transformational year, having realized first sales of its MagnetOs bone graft substitute in the U.S. and
Europe and raised capital to support the roll-out of MagnetOs, and fund the Phase II clinical trial of fibrinPTH (KUR-113) in spinal fusion.
Kuros raised gross proceeds of CHF 16.1 million from a capital increase on December 13, which will enable it to advance its pipeline, in particular the Phase II clinical study of its proprietary KUR-113 product in spinal fusion, and to progress commercialization of MagnetOs in the U.S. and selected geographies in Europe.
The Phase IIstudy of KUR-113 is scheduled to start enrolling patients in Q2 2019 with an anticipated interim readout by the second half of 2020.
The Kuros team has also been strengthened with two new appointments. Michael Grau joined as Chief
Financial Officer, bringing extensive experience in corporate financing and auditing in private and public companies and a strong operational background. Pascal Longlade, M.D., joined as Chief Medical Officer, bringing more than 20 years international experience in clinical research and development with leading pharmaceutical, biotech and medical device companies.