SCHLIEREN (ZURICH), Switzerland, Feb. 11, 2019 (GLOBE NEWSWIRE) — Kuros Biosciences (SIX: KURN) today announced that its Dutch subsidiary, Kuros Biosciences BV, has signed a private label Original Equipment Manufacturer (OEM) agreement with SeaSpine Holdings Corporation (NASDAQ: SPNE), a global medical technology company focused on surgical solutions for the treatment of spinal disorders. Under the agreement Kuros will supply the bone graft in various forms and SeaSpine will market the products under the brand name OsteoCurrent in the U.S. and other select markets in Europe, South America and the Middle East providing the necessary regulatory approvals are achieved. Initial sales in the U.S. are expected prior to the end of H1 2019. Terms of the agreement were not disclosed.
Kuros’s proprietary bone graft technology comprises biphasic calcium phosphate with an advanced submicron surface topography that directs bone formation after implantation. With its unique topography, it preferentially directs early wound healing toward the bone-forming pathway, resulting in predictable healing, reliable fusions and an osteoinductive claim in Europe.
Joost de Bruijn, Chief Executive Officer of Kuros, said “This is an important agreement, which demonstrates the interest of global orthobiologic companies in Kuros’s technologies and should allow greater penetration of our bone grafting technologies into the US, and other markets. We look forward to working together with SeaSpine to make OsteoCurrent a success and to improving the bone grafting options for surgeons.”
Keith Valentine, Chief Executive Officer of SeaSpine, said “We are excited to partner with Kuros to provide OsteoCurrent to our SeaSpine distributor partners, their surgeons and patients. We believe OsteoCurrent represents a best of class pure synthetic that will strengthen our product offering.”
About Kuros Biosciences AG
Kuros Biosciences is focused on the development of innovative products for tissue repair and regeneration and is located in Schlieren (Zurich), Switzerland and Bilthoven, The Netherlands. The Company is listed according to the International Financial Reporting Standard on the SIX Swiss Exchange under the symbol KURN. Visit www.kurosbio.com for additional information on Kuros, its science and product pipeline.
SeaSpine (www.seaspine.com) is a global medical technology company focused on the design, development and commercialization of surgical solutions for the treatment of patients suffering from spinal disorders. SeaSpine has a comprehensive portfolio of orthobiologics and spinal implants solutions to meet the varying combinations of products that neurosurgeons and orthopedic spine surgeons need to perform fusion procedures on the lumbar, thoracic and cervical spine. SeaSpine’s orthobiologics products consist of a broad range of advanced and traditional bone graft substitutes that are designed to improve bone fusion rates following a wide range of orthopedic surgeries, including spine, hip, and extremities procedures. SeaSpine’s spinal implants portfolio consists of an extensive line of products to facilitate spinal fusion in minimally invasive surgery (MIS), complex spine, deformity and degenerative procedures. Expertise in both orthobiologic sciences and spinal implants product development allows SeaSpine to offer its surgeon customers a differentiated portfolio and a complete procedural solution to meet their fusion requirements. SeaSpine currently markets its products in the United States and in over 30 countries worldwide.
The formal process of registering the OsteoCurrent name and product codes with appropriate regulatory authorities is now commencing with the expectations of the following indications:
US indications statement: OsteoCurrent is an implant intended to fill bony voids or gaps of the skeletal system, i.e., the extremities, pelvis and posterolateral spine. In the posterolateral spine, OsteoCurrent must be used with autograft as bone graft extender. In extremities and pelvis, OsteoCurrent is used alone. These osseous defects may be surgically created or the result of traumatic injury to the bone and are not intrinsic to the stability of the bony structure.
EU indications statement: OsteoCurrent is intended for use as bone void filler for voids and gaps that are not intrinsic to the stability of the bony structure. OsteoCurrent is indicated for use in the treatment of surgically created osseous defects or osseous defects resulting from traumatic injury to the bone. OsteoCurrent is intended to be packed into bony voids or gaps of the skeletal system (i.e. extremities, spine, cranial, mandible, maxilla and pelvis) and may be combined with autogenous bone. OsteoCurrent should not be used to treat large defects that in the surgeon’s opinion would fail to heal spontaneously. In load bearing situations, OsteoCurrent is to be used in conjunction with internal or external fixation devices.
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.
For further information, please contact:
Kuros Biosciences AG
Chief Financial Officer
Tel +41 44 733 47 47
Media & Investors
+41 79 598 7149