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Kuros Biosciences announces MagnetOs sales and distribution agreements across Northern Europe
Agreements in Netherlands, Switzerland and Austria and letter of intent in Finland
Supports further acceleration of sales of MagnetOs bone graft
Kuros Biosciences (SIX: KURN) today announced that it has signed sales and distribution agreements for MagnetOs bone graft, covering the Netherlands, Switzerland, Austria, and Finland. These add to an existing agreement in the United Kingdom and Ireland.
Kuros has signed a sales agency agreement with Lubbers Medical BV giving Lubbers non-exclusive rights to sell MagnetOs in the Netherlands, effective Q4 2020. Kuros has signed exclusive stocking distributor agreements for Switzerland and Austria with Orthocontor AG and Amacord GmbH, respectively, both effective Q1 2021. Kuros and Arthrone Oy have signed a letter of intent and expect to sign a full stocking distributor agreement for Finland by the end of Q2 2021.
These new territories are in addition to the existing agreement with Axis Spine Limited in the UK, which has been marketing MagnetOs since 2017.
Joost de Bruijn, Chief Executive Officer of Kuros, said: "We are pleased to finalize these sales and distribution agreements, which recognize the unique osteoinductive properties of MagnetOs, with respected partners across Northern Europe following a competitive process. Sales of MagnetOs are accelerating, and these agreements will enable further expansion."
MagnetOs bone graft is supported by a growing set of preclinical data demonstrating equivalence to the current gold standard, autograft, with over three years of clinical experience since its first use in the UK in May 2017.
About MagnetOs bone graft
MagnetOs bone graft has an advanced submicron surface topography that leads to the formation of bone in spinal fusion defects rather than scar tissue. In preclinical models, MagnetOs preferentially directs the body’s early wound healing response toward the bone-forming pathway, an effect that is so potent that bone can be formed even in soft tissues without the need for added cells or growth factors. This ground-breaking research led to Kuros attaining an osteoinductive claim for MagnetOs in Europe. Results from in vitro or in vivo laboratory testing may not be predictive of clinical experience in humans. MagnetOs is not cleared by FDA as an osteoinductive bone graft.
Lubbers Medical BV
Based near Heerenveen (NL), Lubbers Medical Services BV is an independent specialized agent focused solely on bone graft materials, with more than 15 years of experience in selling and clinical application of orthobiologics products to orthopedic surgeons, trauma surgeons and neurosurgeons.
Orthocontor was founded in 2014, in Eichberg, based on more than 18 years of experience in the medical device field. The company specializes in innovative spine products, with a strong surgical network across Switzerland.
Established in 2007, with its headquarter in Vienna, Austria Amacord focuses on products for spine surgery and interventional cardiology. Next to kyphoplasty and vertebroplasty implants, pedicle screws and rods, MagnetOs will complete their spine portfolio.
Forward Looking Statements
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