Kuros Biosciences Reports Results for First Half 2023

Kuros Biosciences AG / Key word(s): Half Year Results Kuros Biosciences Reports Results for First Half 2023 09-Aug-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. Financial Highlights

• Direct MagnetOs sales increased by 148% from CHF 4.9 million to CHF 12.2 million, total revenue from medical devices rose from CHF 5.7 million to CHF 12.9 million 
• Medical Devices segment achieved a positive EBITDA of CHF 2.2 million driven by MagnetOs
• Cash & cash equivalents amounted to CHF 16.9 million, funds available (including trade, and other receivables) totaled at CHF 22.0 million as of June 30, 2023

Operational Highlights

• Accelerated commercial roll-out of MagnetOs in the U.S. on track
• Key efficacy data on MagnetOs bone graft published in two prestigious, peer-reviewed scientific journals
• In the first half of 2023, Kuros engaged into a limited, non-exclusive sales agency agreement with a top 3 spine company to represent our MagnetOs product line in selected geographies
• Daniel Geiger appointed as Chief Financial Officer

Outlook

• With reaching the 12-month endpoint of the randomized part of Phase 2 clinical study of Fibrin-PTH in spine fusion at the end of 2023, we expect to report the results early 2024

Schlieren (Zurich), Switzerland, August 9, 2023 – Kuros Biosciences (“Kuros” or the “Company”), a leader in next generation bone graft technologies, today reported a 148% growth in MagnetOs direct sales in the first six months of 2023. The enrollment of patients in the Phase II spine study for Fibrin-PTH was completed, confirming the successful transition into a fully-fledged orthobiologics company with scientific, clinical, and commercial excellence in bone regeneration. Total revenue from medical devices increased by 126% to CHF 12.9 million (vs first half 2022: CHF 5.7 million), corresponding to 131% growth on a constant currency basis.