Kuros Biosciences Ltd. · SIX:KURN
Kuros Biosciences — FY2023 Earnings Presentation
15 slides from Kuros Biosciences's earnings presentation, Mar 13, 2024
Slide 1: Investor Webcast – FY 2023 Earnings and Strategic Update
Investor Webcast – FY 2023 Earnings and Strategic Update March 13, 2024 Swiss-headquartered with Ticker: KURN operations in US and the Netherlands SIX Swiss Stock Exchange 1
Slide 2: Disclaimer
Disclaimer This presentation is private and confidential, has been furnished to you solely for your information and may not be reproduced, redistributed or disclosed in any way, in whole or in part, directly or indirectly, in or into the United States or the United Kingdom, Canada, Australia, Japan,
Slide 3: Corporate highlights
Corporate highlights Positioned as pure MedTech with a de-risked profile and clear focus on commercial execution, operational enablement, and product pipeline development Strong financial foundation with no debt: • Cash at ~$16.7M1, with a runway beyond Q1 2025 • ~153% revenue growth2 and potential
Slide 4: Commercial and Operational highlights
Commercial and Operational highlights Surgeons using MagnetOs 300 US International 250 200 150 100 50 0 H2 2022 H1 2023 H2 2023 • Accelerated commercial roll-out of MagnetOs in the U.S. on track • Key efficacy data on MagnetOs bone graft published in two prestigious, peer-reviewed scientific journal
Slide 5: Financial highlights
Financial highlights Revenue from product sales Cash runway beyond Q1-2025 Kuros ownership $22,834 USD, 000s Dec 31, 2023 25% $13,834 Cash and cash equivalents $16,689 $8,106 Trade and other receivables $8,947 59% $6,104 9% $5,060 $3,865 z$2,936 Total cash and cash equivalents, $1,386 $25,636 7% tra
Slide 6: Medical devices - MagnetOs
Medical devices - MagnetOs Revenue Sales & Marketing Costs 25,000 16,000 120% 14,000 100% 20,000 12,000 80% 15,000 10,000 USD ‘000 USD ‘000 Sales & Marketing as % to revenue 8,000 60% 10,000 6,000 40% 4,000 5,000 20% 2,000 - - 0% H1 2021 H2 2021 H1 2022 H2 2022 H1 2023 H2 2023 H1 2021 H2 2021 H1 202
Slide 7: Fibrin-PTH and Corporate Functions
Fibrin-PTH and Corporate Functions Pharmaceuticals – Fibrin-PTH Corporate Functions 3,000 6,000 90% Corporate Functions as % to revenue 80% 2,500 5,000 70% 2,000 4,000 60% USD ‘000 50% USD ‘000 3,000 1,500 40% 2,000 30% 1,000 20% 1,000 500 10% - 0% - H1 2021 H2 2021 H1 2022 H2 2022 H1 2023 H2 2023 H
Slide 8: New market expansion opportunities for MagnetOs
New market expansion opportunities for MagnetOs Increasing addressable market to $3.9B MAXA trial Posterolateral fusion Autograft bone/bone graft • MagnetOs outperformed autograft, even in a difficult-to-treat patient population: substitute is places posteriorly 20% smokers on the side of the spine
Slide 9: Expanded addressable market for orthopedic biomaterials
Expanded addressable market for orthopedic biomaterials Value of global bone graft market, spine only1 ($M) Value of global bone graft market, non-spine1 ($M) $3,757 $1,297 $2,831 $985 $1022 $2,440 $1,724 $1,312 $1,031 $1,018 $942 $781 $808 $697 $686 $889 $1,091 $725 $204 $214 $266 2022 2023 2030 20
Slide 10: MagnetOs outperforms autograft in level 1 clinical trial
MagnetOs outperforms autograft in level 1 clinical trial MAXA Trial Overview MagnetOs Showed: • Compared MagnetOs Granules (standalone) to autograft (at least 50% bone harvested from the iliac crest) for posterolateral fusion 73% higher fusion rate1 • 91-patient (128 segment), randomized, intra- rel
Slide 11: Expanding the depth and breadth of our commercial footprint
Expanding the depth and breadth of our commercial footprint Doubling our US sales team and expanding to new territories Unit ed St at es Int ernat ional • Kuros commercial team spans 50 states • MagnetOs commercialized in 13 countries and • Supported by growing network of independent cleared in 20 w
Slide 12: Strategic direction sets stage for continued success
Strategic direction sets stage for continued success Organic Growth Innovation Markets • Kuros will continue to innovate with MagnetOs portfolio: • Becoming the trusted partner to surgeons and hospitals with clinically o Developing devices and formulations suitable for new applications proven produc
Slide 13: Underpinned by the right financing strategy
Underpinned by the right financing strategy Strategic Cornerstones – Organic Growth Innovation Markets Non-Dilutive Financing Strategic Focus Areas Non-Organic Finance Operations Acquisition Merger Asset Technology Flexible Finance Mechanism (Capital Band/Debt) Developmen Purchase t 13
Slide 14: Kuros Biosciences
153% growth in revenue and 163% growth in direct sales of MagnetOs, year-over-year Innovative, differentiated MagnetOs platform; now cleared for more indications than any other synthetic bone graft substitute in the market Appropriately financed, set to generate positive single-digit EBITDA (adjuste
Slide 15: Thank you
& Kuros Biosciences Thank you