Kuros Biosciences Reports Strong Growth in Q1 2024

Kuros Biosciences AG, a Swiss company specializing in advanced bone healing technologies, reported a significant rise in direct sales of their product MagnetOs, which saw a 155% increase to CHF 13.9 million in Q1 2024. Compared to the same period in 2023, this marks a substantial growth from CHF 5.4 million. This increase was partly due to the successful market acceptance and expanded use of MagnetOs in various medical procedures.

The company's total sales within its Medical Devices segment also saw a similar upward trajectory, accelerating to CHF 13.9 million from CHF 5.6 million in the previous year. Additionally, the EBITDA for this segment improved significantly, reaching CHF 3.9 million in Q1 2024 from CHF 0.5 million in Q1 2023, indicating strong operational performance and profitability.

Regulatory achievements included a new FDA 510(k) clearance for MagnetOs Putty for interbody use, marking another milestone in Kuros’s commitment to innovation in bone healing solutions. Furthermore, an independent clinical study highlighted that MagnetOs Putty achieved an 86% fusion rate in lumbar interbody fusion procedures, even in high-risk patients. This data underscores the product's efficacy across challenging clinical scenarios.

The leadership team at Kuros was strengthened by the appointment of Joe Ross as Senior Vice President of Marketing and Business Development, which is expected to further enhance Kuros's market reach and operational capabilities. With these successful outcomes, Kuros continues to establish itself as an emerging leader in the global market for advanced bone healing technologies.