Kuros Biosciences reports continued increase in MagnetOs U.S. sales
Schlieren (Zurich), Switzerland, 26 October 2021 – 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 in the U.S. continued to accelerate in Q3 2021, with a year-to-date increase of 119% over the same period in 2020.
Kuros recently showcased new products in the MagnetOs range, including a new 2.5cc unit that is ideal for filling gaps in the spine during posterior cervical fusion procedures, a new formulation of MagnetOs that includes a collagen carrier, and MagnetOs Easypack Putty, a soft and moldable formulation ideal for packing into voids of the skeletal system, which has received 510(k) clearance from the U.S. Food and Drug and Administration.
The addition of new pack sizes, new formulations and new products to the MagnetOs range allows Kuros to offer a more complete portfolio of perioperative solutions to surgeons wanting the therapeutic benefits of MagnetOs bone graft.
The company has also made progress with MagnetOs in Europe this year, signing third-party stocking distributor agreements in nine new territories, including Greece which was signed this week. These agreements add to existing distributor arrangements in the UK and the Netherlands. Clinical cases have already successfully taken place in Spain, Italy, France, Switzerland, Austria, and Denmark. In the UK, the company was recently awarded a major tender to supply biologics under the ‘All Wales Orthopaedic, Trauma and Joint Replacement Framework’, through its UK stocking distributor, Axis Spine Limited. This adds to the existing framework in Scotland which was announced in June. In addition, MagnetOs was also successfully commercially launched in Australia in Q2.
Kuros believes it is well placed to grow its revenues and expects product sales for the full year 2021 to be well above CHF 8.0 million. Cash inflow from collaborations for the full year are expected to be up to CHF 12.0 million.