Kuros Biosciences continues strong commercial roll-out of MagnetOs bone graft
Schlieren (Zurich), Switzerland, April 27, 2022 – Kuros Biosciences (SIX: KURN), a leader in next generation bone graft technologies, today provided a first-quarter business update, showing a significant acceleration in product sales of its Medical devices segment.
Medical devices sales increased 102% in Q1 2022 compared to Q1 2021. The U.S. Food and Drug Administration (FDA) cleared MagnetOs Granules for expanded indications in the spine, making it only the second-ever bone graft to achieve clearance for standalone use in the spine based on human clinical data, and MagnetOs Flex Matrix as a bone void filler for use in the posterolateral spine.
Kuros also published first-in-human data from a Phase II trial of Fibrin-PTH (KUR-113) in open tibial shaft fractures in The Journal of Bone and Joint Surgery, suggesting it has the potential to significantly improve treatment options.
Furthermore Kuros stands to receive a milestone payment of $5 million from Checkmate Pharmaceuticals related to one of Kuros’ assets outside of the bone graft field upon closing of Checkmate’s acquisition by Regeneron. Kuros will pay $2.5 million of the milestone payment to XOMA Corporation under a royalty purchase agreement.
Joost de Bruijn, Chief Executive Officer of Kuros, said: “Kuros made strong progress in the first quarter of 2022 with an impressive increase in U.S. sales of our MagnetOs bone graft and clearences by the FDA for one new product and one new indication in the MagnetOs family. We also reported promising clinical data on Fibrin-PTH, which represents a significant commercial opportunity. We look forward to continuing to deliver on our plans through the rest of 2022, as we seek to ease the burden of spine-related pain through superior biologics.”