EQS-Adhoc

Kuros Biosurgery Holding Ltd. closes merger with Cytos Biotechnology Ltd. which is renamed Kuros Biosciences Ltd

EQS Group-Ad-hoc: Kuros Biosciences AG / Key word(s): Merger
Kuros Biosurgery Holding Ltd. closes merger with Cytos Biotechnology Ltd.
which is renamed Kuros Biosciences Ltd

20.01.2016 / 07:00
Release of an ad hoc announcement pursuant to Art. 53 KR.
The issuer is solely responsible for the content of this announcement.

---------------------------------------------------------------------------

Kuros Biosurgery Holding Ltd. closes merger with Cytos Biotechnology Ltd.
which is renamed Kuros Biosciences Ltd.

Schlieren/Zurich (Switzerland) 20 January 2016 - Kuros Biosciences Ltd.
(SIX:KURN formerly CYTN) ("Kuros") today announced the closing of the
acquisition of Kuros Biosurgery Holding Ltd. and the change of name of the
combined company to Kuros Biosciences Ltd. Starting 20 January 2016 all
508'432'244 Kuros Biosciences Ltd. shares are listed and freely tradable
under the ticker symbol KURN on the SIX Swiss Exchange under the
International Reporting Standard and include all former 108'015'276 Cytos
Biotechnology AG shares, which remain listed and freely tradable under the
unchanged ISIN number (CH0011025217).

Christian Itin, Chairman of Kuros Board of Directors, stated: "We are
pleased with the successful closing of the business combination and welcome
our new shareholders. Kuros' product candidates address important markets
in wound care and bone regeneration. We are excited about the potential to
create long-term value for shareholders."

Didier Cowling, CEO of Kuros, commented: "Kuros has a diversified and
clinically tested product pipeline with significant revenue potential in
attractive markets. This combination provides us with access to the public
capital markets and thereby achieves a key step in Kuros' development."

About Kuros

Kuros is developing innovative products for tissue repair and regeneration.
The company is a spin-off of the Swiss Federal Institute of Technology and
is focused in the areas of medical sealants and bone healing
(orthobiologics). Kuros' most advanced product candidate has been designed
to allow for rapid sealing of surgical incisions. The lead indication is
sealing of the dural membrane after brain or spinal surgery. The product
candidate is called KUR-023 and a European clinical study has been
successfully completed. The company is aiming at obtaining a CE mark for
commercialization in Europe in 2017. Kuros is planning a second clinical
study to support approval for the product in the US. Kuros' second class of
product candidates is designed to generate bone tissue for difficult to
heal fractures and to stabilize the spine. Kuros' most advanced bone
healing product candidates are KUR-111 and KUR-113, both of which have been