Kuros Biosciences Ltd. · SIX:KURN
Kuros Biosciences — Investor Presentation (September 2026)
22 slides from Kuros Biosciences's investor presentation, September 2026
Slide 1: Advancing growth & profitability in 2026
Advancing growth & profitability in 2026 Company Presentation September 2026 Ticker: KURN SIX Swiss Stock Exchange 1 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: Kuros is now a profitable, high-growth medical technology company
Kuros is now a profitable, high-growth medical technology company Increasing profitability while growing 45% in H1 2026 Strong Revenue Growth Profitability Milestone Robust Financial Foundation ▪ $92.4M Total Medical Device sales ▪ $12.5M adjusted EBITDA* ▪ $9.7M cash, debt-free ▪ +45% growth Total
Slide 4: What is MagnetOs and how is it different?
What is MagnetOs and how is it different? • A Biphasic Calcium Phosphate (BCP) containing 65%-75% Tricalcium Phosphate (TCP) and 25%-35% Hydroxyapatite (HA), MagnetOs has a porous trabecular structure that resembles the interconnected porosity of human trabecular bone.3-6 • MagnetOs grows bone on it
Slide 5: MagnetOs outperformance versus autograft published in Spine
MagnetOs outperformance versus autograft published in Spine1 Compared 10ccs of MagnetOs Granules 74% • (standalone, not mixed) to autograft (at least 50% bone harvested from the iliac crest) for posterolateral fusion (PLF)* • 91-patient (128 segment), randomized, intra- fusion rate in smokers ‡2 pat
Slide 6: We’re developing the formulations that surgeons need
We’re developing the formulations that surgeons need ― Pre-filled syringe ― Putty ― Ready-to-use ― Ready-to-use ― Easy-to-mold ― Easy-to-mold ― Strips with collagen ― Granules ― Flexible ― Strong, proven foundation ― High wickability 6 MagnetOs Easypack Putty and MagnetOs Flex Matrix are available f
Slide 7: New product launch revolutionizes MIS: A smarter way to deliver bone graft
New product launch revolutionizes MIS: A smarter way to deliver bone graft MagnetOs MIS is the only MIS bone graft delivery system that is: − Sterile1 − Prefilled1 − Contains no human tissue1 − Containing a bone graft whose mechanism of action (MOA) is supported by Level I clinical evidence2 All whi
Slide 8: Expanding our presence & developing data to maximize reach
Expanding our presence & developing data to maximize reach Current 2026 Markets Market Targets $8.2B ▪ Spine: Targeted engagement $5.5B events, evidence generation and sales approach ▪ F&A, Trauma: One of few companies focused on biologics in this space including Level 1 evidence generation ▪ Magnet
Slide 9: Kuros has an efficient, scalable sales model tailored to regional markets
Kuros has an efficient, scalable sales model tailored to regional markets U.S. Outside of the U.S. VP Sales VP Sales Area Director Area Director Area Director Area Director Area Director Managing distributor European partners across the Globe Sales Director Regional Regional Regional Regional Region
Slide 10: Strengthening market position through expanded adoption & partnerships
Strengthening market position through U.S. spine surgeon utilization expanded adoption & partnerships consistently increasing, as total number of spine surgeons ▪ Scaled distributor reach: 34% growth in independent agents & distributors increases1 16% 14% ▪ Deepening hospital penetration: 164% growt
Slide 11: Kuros is leading the way with prospective Level I studies
Kuros is leading the way with prospective Level I studies Focused on short-term (6-month) and long-term (12-month) outcomes to meet evolving surgeon practice and clinical data demands PROOF PRECISE ASTRA (N=60) (N=100) (N=126) Posterolateral fusion Posterolateral fusion Hindfoot & ankle fusion (PLF)
Slide 12: Continuing to innovate with evidence generation to help solve for challenges that surgeons face
Continuing to innovate with evidence generation to help solve for challenges that surgeons face: How can we be confident in a fusion? Together, this evidence portfolio helps demonstrate not only that fusion occurs, but how and where new bone forms NEW 1 Benchtop data 2 Preclinical (animal) 3 Clinica
Slide 13: New peer-reviewed study expands clinical evidence portfolio into cervical indication
New peer-reviewed study expands clinical evidence portfolio into cervical indication & validates 6-month early fusion in high-risk patients Dr. Om Neeley 63% of patients had ≥3 comorbidities Neurosurgeon, Methodist Physicians Neurosurgical Associates of San Antonio, San Antonio, USA 97.7% 6-month fu
Slide 14: Scale, operating leverage and structural improvements drive profitability
Scale, operating leverage and structural improvements drive profitability Revenue scale outpaced fixed costs, ▪ Exceptional Growth Trajectory: Revenue increased ~566% since H1 driving operating leverage 2023, while fixed costs grew ~271%, demonstrating operating leverage 100 100% ▪ Operational & Dig
Slide 15: Maintaining margins and maximizing operational efficiencies
Maintaining margins and maximizing operational efficiencies Gross margin* Sales & Marketing MagnetOs 100’000 95.0% 60’000 80.0% Tariff Gross Margin Gross margin % (incl. tariff) Gross margin % (excl. tariff) Sales & Marketing as % of revenue 80’000 60.0% 90.0% USD ‘ 000 40’000 USD ‘000 60’000 85.0%
Slide 16: Driving innovation, clinical evidence and business transformation
Driving innovation, clinical evidence and business transformation Research & Development* General & Administrative 8’000 15% 20’000 40% R&D as % of revenue G&A as % of revenue 6’000 15’000 30% USD ‘ 000 10% USD ‘000 4’000 10’000 20% 5% 2’000 5’000 10% - 0% - 0% H1 2023 H2 2023 H1 2024 H2 2024 H1 202
Slide 17: Scale, leverage and structural improvements delivered 13.6% adjusted EBITDA margin
Scale, leverage and structural improvements delivered 13.6% adjusted EBITDA margin, $4.4M net profit and $0.11 EPS Group EBITDA Adjusted EBITDA* and Net Profit 9 20% 20,000, EBITDA as % of revenue 6 -10% 15,000, Title -40% 10,000, million 3 -5,122.0, $ Axis $ million -70% 12,536.0, -2,237.0, 5,000,
Slide 18: Investing in growth, innovation, clinical evidence and production capacity
Investing in growth, innovation, clinical evidence and production capacity Cash development H1 2026 Securely financed for organic path forward 9.2 10.4 22.2 USD ‘000 Jun 30, 2026 19.8 18.6 12.4 12.4 6.7 Cash and cash equivalents 9,733 $ million 0.4 2.5 9.8 Series 1 Trade and other receivables 44,447
Slide 19: Operating leverage increases as revenue scales toward $300-330M by 2028E
Operating leverage increases as revenue scales toward $300-330M by 2028E 2025 revenue expected to more than double by 2028, S&M and G&A decline as a percentage of revenue, COGS improves, R&D remains disciplined Key growth drivers ▪ Increase surgeon adoption REVENUE 2025 2026 ▪ Broaden hospital acces
Slide 20: New U.S. site strengthens dual-source supply platform
New U.S. site strengthens dual-source supply platform U.S. manufacturing site adds scale and resilience ▪ Brand-new Alpharetta, Georgia office and production facility ▪ U.S. manufacturing expected to strengthen supply to key U.S. markets Bilthoven, NL ▪ Dual-source supply to minimize risk & drive ef
Slide 21: Our strategic roadmap: From breakout growth to scalable leadership
Our strategic roadmap: From breakout growth to scalable leadership Vision-led growth across indications, geographies and platform scale – the view beyond 2028 VISION MISSION To be a trusted global leader with an advanced orthobiologic portfolio, To discover, develop and deliver innovative biologic t
Slide 22: Expanding the portfolio and business development projects pipeline
Expanding the portfolio and business development projects pipeline Balanced portfolio strategy delivering near-term revenue and long-term growth SHORT TERM MID TERM LONG TERM 0-2 years 2-5 years 5+ years Launch Develop Explore Resorbable, settable Future product MagnetOs MIS Gen2 bone void filler +
Kuros Biosciences — Investor Presentation (September 2026) on 6ix