Medtronic will act as the exclusive sales agent of MagnetOsTM for Kuros Biosciences USA, Inc. in mutually agreed upon sales territories for use in spine surgeries
Kuros will work collaboratively to sell, market and provide support services to Medtronic's sales force
Kuros will keep responsibility for contracts, hospital partnerships and the recognition of revenue from sales
Kuros will continue to sell directly in non-contracted territories as well as in markets outside of spine
This agreement transforms an initial trial agreement into a strategic alliance
SCHLIEREN, SWITZERLAND / ACCESSWIRE / January 7, 2025 / Kuros Biosciences USA Inc., ("Kuros"), a wholly owned subsidiary of Kuros Biosciences AG, a global leader in advanced musculoskeletal bone healing technologies, today announced a strategic five-year, exclusive sales agency agreement with Medtronic, a leading global healthcare technology company. The agreement provides Medtronic with exclusivity in certain spine geographies within the U.S. market, underscoring a shared commitment to expanding access to Kuros' pioneering MagnetOs bone grafting technology.
This agreement positions Kuros for new opportunities in the U.S. spine market and also paves the way for broader adoption of the MagnetOs family of products, which are supported by robust clinical data and innovative designs. This agreement transforms an initial trial agreement into a strategic alliance for a period of five years.
Chris Fair, Chief Executive Officer of Kuros Biosciences, commented: "What started as a trial agreement has now evolved into a strategic alliance with Medtronic reflecting an important milestone for Kuros. This agreement will also help us drive the scaling up process, further optimize our operating leverage, and continue our rapid revenue growth both with Medtronic and in our own direct channels."
For further information, please contact:
Kuros Biosciences AG |
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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 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 bone graft that has already been used across four continents. 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.
* 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.
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. 2019;107(6):2080-2090.
SOURCE: Kuros Biosciences AG
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