Kuros reports 168% increase in direct MagnetOs sales in the first quarter of 2023

Kuros Biosciences AG / Key word(s): Miscellaneous Kuros reports 168% increase in direct MagnetOs sales in the first quarter of 2023 27-Apr-2023 / 07:00 CET/CEST Release of an ad hoc announcement pursuant to Art. 53 LR The issuer is solely responsible for the content of this announcement. Ad hoc announcement pursuant to Article 53 of the SIX listing rules

• Direct MagnetOs sales climbed from CHF 2.0 million in Q1 2022 to CHF 5.4 million in Q1 2023. Total medical device sales accelerate from 2.6 million to CHF 5.6 million
• Key data on efficacy of MagnetOs bone graft published in two prestigious, peer-reviewed scientific journals
• Kuros is financed to complete Phase 2 clinical study of Fibrin-PTH in spine and to accelerate commercial roll-out of MagnetOs in the U.S.
• Daniel Geiger appointed as Chief Financial Officer

Schlieren (Zurich), Switzerland, April 27, 2023 – 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 rose 168% in the first three months of 2023, from CHF 2.0 million to CHF 5.4 million, compared to the same period in 2022. Total product sales from medical devices came in at CHF 5.6 million in 2023 (2022: CHF 2.6 million), in the first three months. MagnetOs overachieved its commercial activity plan in the first three months of 2023 and the product segment Medical devices recognized a positive EBITDA during the period. 

In February, Kuros announced the publication of supportive osteoimmunology data for MagnetOs bone graft in two prestigious, peer-reviewed scientific journals. The articles in the Journal of Immunology and Regenerative Medicine and Clinical Oral Implants Research substantiate the unique mechanism of action of MagnetOs bone graft and add to the growing body of evidence Kuros is building up for MagnetOs.