Kuros Biosciences Ltd.

ZURICH, SWITZERLAND / ACCESSWIRE / June 25, 2024 / Kuros Biosciences, a leader in next generation bone healing technologies, today announced the publication of a peer-reviewed manuscript that details the clinical data of its MAXA Level 1 prospective, multi-center, randomized, intra-patient controlled clinical study in Spine 1 . Published clinical results of "Efficacy of Biphasic Calcium Phosphate Ceramic with a Needle-shaped Surface Topography Versus Autograft in Instrumented Posterolateral Spinal Fusion: A Randomized Trial" include fusion data on 91 patients and 128 segments with 1-year follow-up after surgery. As previously reported and now detailed in the peer-reviewed publication, the data demonstrates: MagnetOs TM effectiveness as a standalone* alternative to autograft in challenging posterolateral fusions (PLF); Nearly double the fusion rate as compared to autograft in PLF, showing a 79% overall fusion rate with MagnetOs as independently measured with fine-cut CT, compared to 47% for autograft, which included difficult-to-treat patients of current and former smokers (n=19 and 35 respectively); and Noninferiority of MagnetOs versus autograft per study design, with primary outcome analysis even indicating MagnetOs superiority. "We are extremely pleased to share the results of the MAXA study with the medical community," said Moyo C. Kruyt, MD, PhD, lead researcher in the MAXA study. "The MAXA study demonstrates for the first time that an advanced synthetic bone substitute likely performs better than the current gold standard autograft in a challenging posterolateral fusion location." Chris Fair, Chief Executive Officer of Kuros, said, "Kuros is committed to supporting clinical research and providing evidence-based solutions for next generation bone healing technologies. This study's acceptance and publication in Spine is proof of that commitment." Fair continued, "We commend Professor Kruyt and his team for their independent efforts and their desire to provide the spine community and their patients with a robust level 1 study that supports the use of MagnetOs for difficult to treat patients and highlights a viable alternative to autograft." The publication, which includes additional details such as study design, patient demographics, inclusion/exclusion criteria, and complications reported in the study, can be accessed on the Spine website and is also available on the Kuros Biosciences website. 1. Stempels, H. et al., "Efficacy of biphasic calcium phosphate ceramic with a needle-shaped surface topography versus autograft in instrumented posterolateral spinal fusion: A randomized trial." Spine. June 17, 2024. 2. Van Dijk, et al. eCM. 2021; 41:756-73. 3. Duan, et al. eCM. 2019; 37:60-73. 4. Van Dijk, et al. Clin Spine Surg. 2020;33(6): E276-E287. 5. Van Dijk, et al. JOR Spine. 2018 ; e1039 6. Van Dijk, et al. J Biomed Mater Res. Part B: Appl Biomater. *MagnetOs was mixed with venous blood †Results from in vivo laboratory testing may not be predictive of clinical experience in humans. For important safety and intended use information please visit kurosbio.com. ‡MagnetOs is not cleared by the FDA or TGA as an osteoinductive bone graft. §MagnetOs has been proven to generate more predictable fusions than two commercially available alternatives in an ovine model of posterolateral fusion. About the MAXA Trial The MAXA study is a 100-patient multicenter, observer blinded, randomized, intra-patient controlled, non-inferiority trial with intra-patient comparisons. Adult patients qualifying for instrumented posterolateral spinal fusion of one to six levels in the thoracolumbar and lumbosacral region (T10-S2) with the use of autograft were included and posterolateral lumbar/thoracolumbar fusion was assessed by fine-cut CT-scan 12 months after surgery. According to a randomization scheme, MagnetOs was implanted on one side of the spine and the gold standard autograft (consisting of at least 50% bone harvested from the iliac crest mixed with local bone) was implanted on the other side of the spine. The investigators were blinded to the side assigned to the grafts until just prior to graft application. Thereby, each patient serves as its own control. More details can be found at (NCT03625544). Fusion performance of MagnetOs was tested with a noninferiority margin of 15%. The MAXA clinical trial was funded via an unrestricted research grant from Kuros Biosciences. Unrestricted research grants provide funding to clinical investigators with an interest in advancing the knowledge and understanding of certain technologies. These grants are donations in the form of flexible funding that can be directed toward whatever program, project, or expense the investigator chooses. About ‘Spine' As the leading international journal in spine surgery, Spine publishes high-impact, peer-reviewed original research manuscripts. Spine is one of the top referenced journals in the field and is recognized for featuring new technology and innovative procedures and techniques. About MagnetOs MagnetOs is a bone graft like no other: thanks to its NeedleGrip TM surface technology, it enables bone formation without added cells or growth factors. This surface technology provides traction for our body's vitally important ‘pro-healing' immune cells (M2 macrophages). This in turn, unlocks previously untapped potential to stimulate stem cells - and form new bone throughout the graft. The growing body of science behind NeedleGrip is called osteoimmunology. But for surgeons and their patients it means one thing: a more predictable fusion. 2-6†‡§ Indications statement Please refer to the instructions for use for your local region for a full list of indications, contraindications, warnings, and precautions. About Kuros Biosciences Kuros Biosciences is on a mission to discover, develop and deliver innovative biologic fusion technologies. With locations in the United States, Switzerland and the Netherlands, the company is listed on the SIX Swiss Exchange. The company's first commercial product, MagnetOs TM , is a unique advanced bone graft that has already been used across three continents in 25,000 fusion surgeries. For more information on the company and its products, visit kurosbio.com. 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 AG Daniel Geiger Chief Financial Officer Tel +41 44 733 47 41 daniel.geiger@kurosbio.com Investors Gilmartin Group Vivian Cervantes Tel: +1 332.895.3220 vivian.cervantes@gilmartinir.com SOURCE: Kuros Biosciences AG View the original press release on accesswire.com

ZURICH, SWITZERLAND / ACCESSWIRE / April 17, 2024 / Kuros Biosciences (Formally known as Cytos Biotech; Merged with Kuros Biosurgery) (SIX:KURN), a leader in next generation bone graft technologies, held its Annual General Meeting today. The Annual General Meeting approved the Annual Report, the Annual Financial Statements, and the Consolidated Financial Statements for the year 2023 and took note of the Reports of the Auditors. Shareholders granted discharge to the Board and the Executive Committee, voted in favor of the proposed appropriation of the Annual Results, and approved the compensation for the members of the Board of Directors and the Executive Committee. Clemens van Blitterswijk was re-elected as Chairman and Joost de Bruijn as well as Oliver Walker were re-elected as members of the Board. Scott Bruder did not stand for re-election. Albert Arp and Chris Fair (CEO) were elected as new members of the Board of Directors. Clemens van Blitterswijk and Oliver Walker were re-elected as members of the Compensation Committee and Albert Arp was elected as a new member of the Compensation Committee. The law firm Keller AG, Zurich, was re-elected as independent Proxy. PricewaterhouseCoopers Ltd, Basel, were re-elected for another one-year term as Kuros' auditor. The Annual General Meeting further approved, with the required 2/3 majority, adjustments to the articles of association. Adjustments included the introduction of a Capital Band and the increase of the Conditional Share Capital for Employees, Persons of Comparable Positions and Board Members. The Annual General Meeting took place at JED Events, Zürcherstrasse 39E, 8952 Schlieren (Zurich). 22'284'902 shares or 60.4% of a total of 36,896,008 shares were represented. Kuros Biosciences AG Daniel Geiger Chief Financial Officer Tel +41 44 733 47 41 daniel.geiger@kurosbio.com LifeSci Advisors Sandya von der Weid Investors +41 78 680 0538 svonderweid@lifesciadvisors.com About Kuros Biosciences Kuros Biosciences is on a mission to discover, develop and deliver innovative biologic fusion technologies. With locations in the United States, Switzerland and the Netherlands, the company is listed on the SIX Swiss Exchange. The company's first commercial product, MagnetOsTM, is a unique advanced biologic that has already been used across three continents in 25,000 fusion surgeries. For more information on the company, its products and pipeline, visit kurosbio.com. 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. SOURCE: Kuros Biosciences AG View the original press release on accesswire.com

Financial highlights Direct MagnetOs sales grew by 163% to CHF 31.7 million in 2023, climbing from CHF 12.1 million in 2022. Total medical device sales accelerated by 153% from CHF 13.3 million in 2022 to CHF 33.6 million in 2023 The Medical Devices segment achieved a positive EBITDA of CHF 6.8 million driven by MagnetOs Cash and cash equivalents amounted to CHF 14.2 million and funds available (including trade and other receivables) totaled at CHF 21.8 million as of December 31, 2023 Operational highlights MagnetOs surpassed the important milestone of 25,000 patients treated MAXA clinical trial comparing MagnetOs standalone to the gold standard autograft for the challenging posterior lateral spinal fusion showed a fusion rate of 79% versus 47% in the full study population and 80% versus 32% in a difficult-to-heal smoker population FDA market clearance received for interbody use of MagnetOs Flex Matrix, MagnetOs Easypack Putty and MagnetOs Granules as well as MagnetOs Putty for standalone us Fibrin-PTH discontinued based on the MAXA results Outlook Kuros expects a similar sales growth trend going forward. The Company is adequately financed on its planned organic growth path and - adjusted for the Fibrin-PTH costs - will generate positive single-digit EBITDA for the first time in 2024. SCHLIEREN (ZURICH), SWITZERLAND / ACCESSWIRE / March 13, 2024 / Kuros Biosciences ("Kuros" or the "Company"), a leader in next-generation bone graft technologies, today announced financial results for full year 2023 along with continued significant growth. Direct sales of MagnetOs rose 163% to CHF 31.7 million in 2023 from CHF 12.1 million in 2022. Total medical device sales accelerated from CHF 13.3 million in 2022 to CHF 33.6 million in 2023, which is a 153% increase. MagnetOs exceeded its commercial plan in 2023 by reaching the important milestone of 25,000 patients treated worldwide, resulting in a positive EBITDA of CHF 6.8 million in the Medical Devices product segment in 2023. Chris Fair, Chief Executive Officer, stated: "Kuros Biosciences experienced a tremendous year in 2023 as we built a newly focused, scientifically led and clinically proven, pure play MedTech business. Last year's record sales revenue, coupled with our global expansion efforts and a dedicated strategy, marked a successful period as we transitioned to becoming a global leader in bone grafting technologies. Our significant, 153% revenue growth of MagnetOs sales in 2023 compared to last year corresponds to the treatment of over 25,000 patients with MagnetOs. Mr. Fair continued, "The marked growth in revenue for 2023 is a result of a well-executed plan of geographic and sales channel expansion led by our expert sales, marketing, and customer service teams. In addition, our continued investment in innovation, and operational excellence in manufacturing, quality, and logistics has ensured that we can meet and exceed our customers' demands, ensuring that no patient will miss treatment. With our recent decision to focus our financial resources on the MagnetOs technology and associated portfolio of products, and not to proceed into Phase 3 with Fibrin-PTH, we have made significant progress toward reaching a cash flow break-even point more quickly. These strong financial results underline our commitment to increasing shareholder value by balancing high sales growth with targeted profitability." Key developments in 2023 and so far in 2024 February 16, 2023 Kuros Biosciences announces changes to Executive Management Team February 21, 2023 Kuros Biosciences announces publication of supportive osteoimmunology data for MagnetOs bone graft March 15, 2023 Kuros Biosciences reports results for the full year 2022 April 27, 2023 Kuros Biosciences reports 168% increase in direct MagnetOs sales in the first quarter of 2023 May 8, 2023 Annual General Meeting of Kuros Biosciences approves all resolutions July 13, 2023 Kuros Biosciences announces completion of enrollment in the Fibrin-PTH Phase 2 trial August 9, 2023 Kuros Biosciences reports results for first half 2023 October 12, 2023 Kuros Biosciences reports a 150% increase in direct MagnetOs sales in the first nine months of 2023 and announces changes within Executive Management Team November 28, 2023 Kuros Biosciences receives US FDA 510(k) clearance for use of MagnetOs in interbody spinal cages December 20, 2023 Kuros Biosciences receives US FDA 510(k) clearance for use of MagnetOs Putty standalone December 27, 2023 Kuros Biosciences announces results from two prospective randomized clinical trials: STRUCTURE and MAXA January 4, 2024 Kuros Biosciences announces three advancements related to its MagnetOs portfolio including impressive fusion data from MAXA prospective randomized clinical trial and two 510(k) clearances from FDA January 31, 2024 Kuros Biosciences receives US FDA 510(k) clearance for MagnetOs Granules for interbody use and regulatory clearance of MagnetOs Granules and MagnetOs Putty in New Zealand February 1, 2024 Kuros Biosciences presents at the CG 2024 Musculoskeletal Conference Group financial results Revenue and cost of goods sold In 2023, direct sales of MagnetOs rose by 163% from CHF 12.1 million to CHF 31.7 million in 2023. Total revenue from medical devices arrived at CHF 33.6 million (2022: CHF 13.3 million), showing an increase of 153% or 166% on a constant currency basis versus 2022. Cost of goods sold amounted to CHF 9.6 million (2022: CHF 7.2 million) of which CHF 1.8 million (2022: CHF 2.2 million) related to the amortization of capitalized R&D; and CHF 4.4 million and CHF 0.1 million related to impairment of goodwill and intangible assets respectively. (2022: impairment of goodwill of CHF 3.6 million). Net operating costs Operating costs amounted to CHF 37.1 million, compared to CHF 24.2 million in the previous year. The increase is primarily driven by sales and marketing costs resulting from growing commercial activities. Therefore, sales and marketing costs increased from CHF 12.8 million in 2022 to CHF 23.3 million in 2023, mainly due to the increase in sales force headcount and general sales and distribution costs. Research and development costs increased from CHF 5.2 million in 2022 to CHF 5.6 million in 2023. General and administrative costs increased from CHF 6.6 million in 2022 to CHF 8.4 million in 2023. Other income amounted to CHF 0.2 million (2022: CHF 0.4 million). Net finance expense Net finance expense amounted to CHF 0.2 million (2022: CHF 2.5 million), mainly comprised of a gain resulting from a revaluation on financial liability to XOMA because of the re-assessment of the probability assumption of future milestone payments, net of the result of foreign exchange. Financial position and other assets Cash and cash equivalents amounted to CHF 14.2 million and funds available (including trade and other receivables) totaled CHF 21.8 million as of December 31, 2023. This is a decrease of CHF 5.9 million from CHF 27.7 million as of December 31, 2022. The decrease is mainly driven by net operating cash outflows. As of December 31, 2023, total intangible assets amounted to CHF 16.5 million (2022: CHF 19.4 million) and goodwill amounted to CHF 24.5 million (2022: CHF 29.3 million). The impairment of goodwill of CHF 4.4 million resulted from a reassessment of the assumptions underlying the expected milestones from Checkmate licensing. Key figures 2023 2022 In TCHF, IFRS - Revenue from product sales 33,564 13,265 - Revenue from collaborations - 4,721 Total Revenue 33,564 17,986 Cost of Goods sold (9,628) (7,217) Gross profit 23,936 10,769 - Sales and marketing costs (23,328) (12,785) - Research and development costs (5,599) (5,194) - General and administrative costs (8,449) (6,598) - Other income 248 362 Net operating costs (37,128) (24,215) Operating loss (13,192) (13,446) Net finance expense (155) (2,545) Income tax (380) 1,396 Net loss (13,727) (14,595) Net loss per share (in CHF) (0.38) (0.43) Cash and cash equivalents 14,208 24,065 Trade and other receivables 7,617 3,618 Events after the reporting period The group has no significant events after the reporting period up to the date of this announcement. Outlook Kuros' products are advancing according to plan with MagnetOs continuing to generate strong sales growth in the U.S., Europe, and the rest of the world. The company is adequately funded along the planned organic growth path and - adjusted for the Fibrin-PTH costs - will generate positive single-digit EBITDA for the first time in 2024. The annual report 2023 is available on our corporate website under the following link: Kuros Biosciences 2023 Annual Report We will discuss the 2023 results in a virtual call on March 13, 2024, at 3pm CET. If you wish to participate, please register in advance for this webinar: Kuros Biosciences FY-2023 Financial Report Investor Webcast After registering, you will receive a confirmation email containing instructions to join the webinar. Kuros Biosciences AG Daniel Geiger Chief Financial Officer Tel +41 79 673 43 69 daniel.geiger@kurosbio.com LifeSci Advisors Sandya von der Weid Investors Relations +41 78 680 0538 svonderweid@lifesciadvisors.com About MagnetOs MagnetOs is a bone graft like no other: thanks to its NeedleGripTM surface technology, it grows bone even in soft tissues. This surface technology provides traction for our body's vitally important ‘pro-healing' immune cells (M2 macrophages). This in turn, unlocks previously untapped potential to stimulate stem cells - and form new bone throughout the graft. The growing body of science behind NeedleGrip is called osteoimmunology. But for surgeons and their patients it means one thing: a more predictable fusion. 1-5*†‡ Indications statement Please refer to the instructions for use for your local region for a full list of indications, contraindications, warnings, and precautions. About Kuros Biosciences Kuros Biosciences is on a mission to discover, develop and deliver innovative biologic fusion technologies. With locations in the United States, Switzerland and the Netherlands, the company is listed on the SIX Swiss Exchange. The company's first commercial product, MagnetOsTM, is a unique synthetic bone graft that has already been used across three continents in 25,000 fusion surgeries. For more information on the company, its products and pipeline, visit kurosbio.com . 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. 1. Van Dijk, et al. eCM. 2021; 41:756-73. 2. Duan, et al. eCM. 2019; 37:60-73. 3. Van Dijk, et al. Clin Spine Surg. 2020;33(6): E276-E287. 4. Van Dijk, et al. JOR Spine. 2018 ; e1039 5. Van Dijk, et al. J Biomed Mater Res. Part B: Appl Biomater. *Results from in vivo laboratory testing may not be predictive of clinical experience in humans. For important safety and intended use information please visit kurosbio.com. †MagnetOs is not cleared by the FDA or TGA as an osteoinductive bone graft. ‡MagnetOs has been proven to generate more predictable fusions than two commercially available alternatives in an ovine model of posterolateral fusion. SOURCE: Kuros Biosciences AG View the original press release on accesswire.com