Kuros receives clearance for MagnetOs Putty for commercialization in the United States and files the product for CE marking in Europe

Ivan Cohan-Tanugi, Chief Executive Officer of Kuros, commented: "This FDA clearance is another major milestone for us and supports our commitment to develop and launch innovative products that meet the demands of surgeons, their patients and the payers." He continued: "MagnetOs Putty has now been cleared or submitted in our main target markets, which is key for our strategy to build a leading orthobiologics company. It is also a testimony to our Group's science, development capabilities and teamwork. We now look forward to rolling out our commercialization activities."

Under the terms of the combination agreement with Xpand Biotechnology B.V., the clearance for MagnetOs Putty in the United States triggers the issue of another 0.37 million shares from Kuros' authorized share capital to the former owners of Xpand Biotechnology B.V.

MagnetOs promotes local bone formation equivalent to current gold standard autograft

MagnetOs is a synthetic bone graft substitute intended to fill bony voids or gaps of the human skeletal system and promote the formation of bone at the implanted site. A substantial number of clinically relevant and predictive studies have demonstrated its equivalence to the current gold standard autograft (patient's own bone, which may not be available in sufficient quantities and/or involves morbidity, costs and risks associated with its harvesting from another healthy site of the patient's body). MagnetOs is based on calcium phosphate with a novel and unique surface structure that greatly enhances its ability to promote local bone formation. The product is available as granules and as a putty formulation.