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Kuros Biosciences wins 2020 Spine Technology Award from Orthopedics This Week
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
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