- Industry-leading award recognizes Kuros’ Fibrin-PTH (KUR-113) technology
- Rounds off successful year of commercial, clinical, and financial progress
- Kuros also wins GHP Magazine’s 2020 International Life Science Award
Kuros Biosciences (SIX: KURN) today announced that it has won the 2020 Spine Technology Award, awarded by the widely-read industry publication Orthopedics This Week for outstanding innovations in the field, for its Fibrin-PTH (KUR-113) technology, which delivers targeted and controlled bone formation.
The prestigious award rounds off a year of strong progress for Kuros. Sales of lead product MagnetOs are accelerating, and the company has successfully initiated the STRUCTURE Phase 2 study with Fibrin-PTH, the first investigational trial of a drug biologic bone graft for spinal fusion. Fibrin-PTH targets a substantial clinical need in orthopedics and neurosurgery and addresses a significant unmet need.
This is underpinned by a successful capital increase, which was upsized due to strong demand and raised total gross proceeds of CHF 18.6 million. The financing was supported by long-term existing shareholders as well as new institutional investors.
The 2020 Spine Technology Award is the second prize won by Kuros this year, following an award in the Best Spinal Surgery Solutions Provider 2020 in GHP Magazine’s 2020 International Life Science Awards.
Joost de Bruijn, Chief Executive Officer of Kuros, said: “We are honored to have received the 2020 Spine Technology Award in recognition of Fibrin-PTH. Kuros has had an exciting year, with accelerating sales of MagnetOs and clinical progression of Fibrin-PTH. We look forward to continuing this progress in 2021 with a reinforced financial position following our upsized capital raise. I would like to thank Orthopedics This Week for their consideration of Kuros, which rewards the hard work and dedication of our employees and support of our investors.”
About Fibrin-PTH (KUR-113)
Fibrin-PTH (KUR-113) consists of a natural fibrin-based healing matrix with an immobilized targeted bone growth factor (truncated human parathyroid hormone (PTH) analog). Fibrin-PTH (KUR-113) is designed to be applied directly into and around an intervertebral body fusion device as a gel, where it polymerizes in situ. Fibrin-PTH (KUR-113) functions via the well-established mechanism of action of parathyroid hormone; has been demonstrated in animal models of spinal fusion to be comparable to rhBMP-2; and has been shown in preclinical studies to be easy to use and ideal for open or minimally invasive techniques. The safety & efficacy of Fibrin PTH (KUR-113) has not yet been evaluated for spinal fusion in humans.
Forward Looking Statements
This media release contains certain forward-looking statements that involve risks and uncertainties that could cause actual results to be materially different from historical results or from any future results expressed or implied by such forward-looking statements. You are urged to consider statements that include the words “will” or “expect” or the negative of those words or other similar words to be uncertain and forward-looking. Factors that may cause actual results to differ materially from any future results expressed or implied by any forward-looking statements include scientific, business, economic and financial factors, Against the background of these uncertainties, readers should not rely on forward-looking statements. The Company assumes no responsibility for updating forward-looking statements or adapting them to future events or developments.
Kuros Biosciences is a leader in next generation synthetic bone graft technologies for targeted and controlled bone healing. Kuros’s bone graft substitute, MagnetOs, is commercialized in the US and UK for use in posterolateral spinal fusions. Kuros’s lead product in development, Fibrin PTH, a drug-biologic combination for spinal interbody fusion, is entering a phase 2a clinical trial in the U.S. Kuros is located in Schlieren (Zurich), Switzerland, Bilthoven, The Netherlands and Burlington (MA), U.S.A. The Company is listed according to the International Reporting Standard on the SIX Swiss Exchange under the symbol KURN. Visit www.kurosbio.ch for additional information on Kuros, its science and product pipeline.
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