Kuros Biosciences Ltd. · SIX:KURN
Kuros Biosciences — Investor Day (May 2025)
96 slides from Kuros Biosciences's investor day presentation, May 13, 2025
Slide 1: Growing with Kuros
Growing with Kuros Capital Markets Day May 13, 2025 Ticker: KURN 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, Japa
Slide 3: Meet your hosts
Meet your hosts Chris Fair Joost de Bruijn, PhD Daniel Geiger Joe Ross Greg Berlet, MD, CEO, Board Member Executive Director and President, Chief Financial Officer SVP, Marketing & Business Development FAOA, FRCS(C) Innovation & Strategy Orthopedic Surgeon 3
Slide 4: Our goals for today
Our goals for today Today we’ll cover: Our breakthrough science Our solid commercial strategy & business transformation initiatives A surgeon perspective that explains why MagnetOs growth is unmatched in the industry 4
Slide 5: Agenda
Agenda 01 The science behind the success 02 Global commercial strategy 03 Ongoing clinical research & MagnetOs differentiation 04 A surgeon’s perspective 05 Business transformation 06 Q&A 5
Slide 6: The science behind the success
The science behind the success 6
Slide 7: Spine-related pain: huge impact on society
Spine-related pain: huge impact on society Spine-related pain, particularly low back pain, stands as a significant global health concern. According to the World Health Organization, in 2020, low back pain affected 619 million people worldwide, with projections estimating an increase to 843 million b
Slide 8: Spine-related pain
Spine-related pain Two most common ailments (leading to pain and instability of the spinal column) Normal spine Herniated disc Displaced vertebra Spinous Compressed process Nerves > PAIN < Facet joint Pedicle Transverse process Disc Spinal cord 8
Slide 9: Two main types of spinal fusion surgery
Two main types of spinal fusion surgery Spinal fusion: joining two or more vertebrae in the spine, aiming to eliminate movement between them to provide stability and pain relief Anterior column (interbody fusion) Posterior column (posterolateral spine fusion) TLIF Bone graft is applied to the PLF Bo
Slide 10: State-of-the-art
State-of-the-art Use patient-own bone to stabilise the spine (autograft harvesting) filling a defect by creating another 10
Slide 11: State-of-the-art: autograft drawbacks
State-of-the-art • Disabling complications 2% • Donor site pain ≈ 40% • Limited supply max 20cc • Extended surgical procedure filling a defect by creating another 11
Slide 12: Clinical need to create a substitute for autologous bone
Clinical need to create a substitute for autologous bone 12 solution seduce
Slide 13: Why is a bone graft important & what do surgeons look for?
Why is a bone graft important & what do surgeons typically look for? Bone grafts are used to promote and facilitate the healing process (along with hardware) where two or more bones are joined together to form a single, solid bone • Osteoconductive: a scaffold for bone growth • Osteogenic: contains
Slide 14: Grow patient-own bone in a culture dish?
Grow patient-own bone in a culture dish? Mes enc hymal H arves t bone s tem c ells marrow (MS C s ) Started around 30 years ago (IsoTis) Bone tissue engineering: culturing MSC’s on biomaterial scaffold to grow bone C alc ium phos phate s c affold C ultured patient- own bone 14 Results from in vivo o
Slide 15: Discovery of osteoinductive materials
Discovery of osteoinductive materials Ectopic C lear effect of implantation cells (ec topic ) (goat mus cle pouch) with MSCs without MSCs Histology: study of the microscopic structure of tissues 15 Results from in vivo or in vitro laboratory testing may not be predictive of clinical experience in hu
Slide 16: Discovery of osteoinductive materials
Discovery of osteoinductive materials Ectopic C lear effect of implantation cells (ec topic ) (mus cle) with MSCs without MSCs Orthotopic L imited effec t of c ells implantation (orthotopic ) (Ø17mm bone defect, Os llium) 16 Results from in vivo or in vitro laboratory testing may not be predictive o
Slide 17: Discovery of osteoinductive materials
Discovery of osteoinductive materials Micro- porous s urface Mus cle implantation in a goat model topography, s mall grain s ize Indication for existence of bone inducing materials?! Incorporated P rogentix Orthobiology B V Bone induction? Without stem cells 17 Results from in vivo or in vitro labor
Slide 18: Calcium phosphates with different surface topographies
Calcium phosphates with different surface topographies Sintering temperature affects microporosity & surface topography.1,2,3 Scanning Electron Microscope (SEM) images of different surface topographies BCP1100 BCP1200 BCP1300 Similar surface to Experimental surface commercially available CaP bone gr
Slide 19: Material-driven bone formation (osteoinduction)
Material-driven bone formation (osteoinduction) Surface topography, grain size & micropores are crucial.1,2,3 Surface topography, grain size & microporosity dictate osteoinductive response BCP1100 BCP1200 BCP1300 Fibrous Bone tissue Materia l Bone Material Material Bone Fibrous Materia tissue Bone l
Slide 20: Just by altering surface topography, we can make a material osteoinductive
“Just by altering surface topography, we can make a material osteoinductive” 20
Slide 21: Clinical significance?
Clinical significance? Osteoinductive Calcium Phosphate (CaP) allows full repair of large bone defects Fuchsia staining reveals extensive bone formation with osteoinductive CaP, compared to minimal ingrowth with conventional CaP. Osteoinductive CaP Conventional osteoconductive CaP 12 weeks implantat
Slide 22: Sale of Progentix (AttraX) to NuVasive in 2009
Sale of Progentix (AttraX®) to NuVasive in 2009 Agreement for orthopedic field Calcium phosphate with high tri-calcium phosphate (TCP) content 22
Slide 23: AttraX versus Autograft
AttraX® versus Autograft Autograft AttraX Key Points (1 year follow-up)1 AttraX Putty side: 55% fused Autograft side: 52% fused Identical study design to recent MagnetOs MAXA trial “After correction for multilevel fusions, non-inferiority of AttraX Putty in terms of fusion performance was demonstrat
Slide 24: We wanted to refine & improve the product
We wanted to refine & improve the product Can surface topography be refined and chemistry adjusted to get faster and more reliable bone formation? Conventional MagnetOs surface structure surface structure ADVANCING TECHNOLOGY Developed at Xpand Biotechnology BV 24
Slide 25: MagnetOs maintains volume and accelerates bone formation
MagnetOs maintains volume and accelerates bone formation (<6 weeks)*†1 AttraX® TCP (Progentix) (-) Control: synthetic TCP MagnetOs Granules 8/8, 23.0±10.0% Bone 0/8; 0% Bone 8/8, 22.8±13.3% Bone Histology: study of the microscopic structure of tissues Intramuscular implantation, canine 12 weeks1 Att
Slide 26: MagnetOs' key differentiator
MagnetOs’ key differentiator Superior surface structure promotes bone growth in soft tissues without added cells or growth factors*1 Vitoss® ACTIFUSE Fibrous tissue Fibrous tissue Bone tissue ChronOS® Vitoss ACTIFUSE AttraX MagnetOs A D VA N C I N G T E C H N O LO G Y MagnetOs preferentially directs
Slide 27: Merger of Xpand Biotechnology BV (MagnetOs) with Kuros Biosciences AG
Merger of Xpand Biotechnology BV (MagnetOs) with Kuros Biosciences AG Refocus Kuros to pure-play orthobiologics company targeting spinal fusion Expand regulatory clearances of MagnetOs Xpand Biotechnology BV MagnetOs - 2014 Build commercial infrastructure Kuros Biosciences AG/BV Invest in pre-clinic
Slide 28: Reliable fusion: Graft volume in = bone volume out
Reliable fusion: Graft volume in = bone volume out Autograft Compared to market-leading alternatives, there is no loss in fusion mass* Novabone Vitoss® BA2X Putty® Ovine instrumented posterolateral fusion 3D reconstructions after 12 weeks†‡1 *MagnetOs has been proven to generate more predictable fus
Slide 29: MagnetOs compared to other bone graft products
MagnetOs compared to other bone graft products Transverse Bone graft process (TP) Head-to-head comparison in a 12-week ovine instrumented PLF model.1,2 MagnetOs Putty Novabone Putty® Fibergraft® BG i-Factor Putty® Matrix Transverse process Transverse process MagnetOs Flex Matrix Autograft Vitoss® BA
Slide 30: 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 pati
Slide 31: MagnetOs results exceeded expectations
MagnetOs results exceeded expectations Study powered to demonstrate noninferiority, authors describe “indicated superiority”1 31 1. Stempels, et al. Spine. 49(19):1323-1331.
Slide 32: The evolution of MagnetOs – A journey of innovation & milestones
The evolution of MagnetOs – A journey of innovation & milestones From the 1990s to present Development of MagnetOs, Level I investigator proprietary led RCT featuring IsoTis pursuit to superior Level I MagnetOs, grow bone on a Founding of scaffold cultured with Progentix, formulation and Merger of X
Slide 33: What is MagnetOs and how is it different?
What is MagnetOs and how is it different? • Giving surgeons confidence to deliver more predictable fusions1 • In a Level I human clinical study published in Spine, MagnetOs achieved nearly twice the fusion rate of autograft in posterolateral fusions1 • Among active smokers – who comprised 1 in 5 pat
Slide 34: What does the surface of MagnetOs look like?
What does the surface of MagnetOs look like? 34
Slide 35: The immune system plays a big role in healing
We have learnt that the immune system plays a big role in the healing process, and therefore in the production of bone Because of its surface, MagnetOs harnesses the immune system to generate cell activity and stimulate bone formation*1,2 *Results from in vitro or in vivo laboratory testing may not
Slide 36: Why do surgeons choose MagnetOs?
Why do surgeons choose MagnetOs? Surface Safety MagnetOs grows bone on its own thanks to NeedleGrip MagnetOs contains no human cells or growth – a proprietary submicron surface technology that factors which alleviates concerns of disease harnesses the immune system to stimulate bone growth transmiss
Slide 37: Global commercial strategy
Global commercial strategy 37
Slide 38: Where we are: numbers at-a-glance
Where we are: CHF75.6 million Total Medical Device sales in 2024 Numbers at-a-glance >320 cumulative scientific papers, decades of research advancing bone graft innovation 125% year-over-year growth for Total Kuros Medical Device sales >130 global employees and counting 100+ combined research years
Slide 39: MagnetOs is ranked 9th largest brand by revenue in U.S. biologics market
MagnetOs is ranked 9th largest brand by revenue in U.S. biologics market Estimated Rank Company Brand Category MagnetOs 2024 revenue 1 Medtronic Infuse Growth factor $993M 2 Biocomposites Stimulan* Cement + anti-b $172M 3 DePuy Synthes Vivigen CBA $140M Synthetic Peptide CBA 4 Bioventus OsteoAmp DBM
Slide 40: With YoY revenue growth higher than every brand but Infuse
With YoY revenue growth higher than every brand but Infuse $300,000,000 $250,000,000 $200,000,000 $150,000,000 $100,000,000 $50,000,000 $0 Increase Decrease Total 40 1. iData U.S. MedSKU May 2025
Slide 41: Kuros has many growth levers
Kuros has many growth levers Organic market growth Geographic expansion New customers 01 02 03 • Surgeons • Hospitals • Distributors/sales agents New products & New pathologies Inorganic opportunities 04 indications 05 06 41
Slide 42: Spine & extremities market set to surge from $5.2B to $7.7B by 2031
Spine & extremities market set to surge from $5.2B to $7.7B by 2031 $7.7B 7.72 1 $0.6 $0.5 Spine Extremities, CMF & $3.9B Oncology $1.3B $1.5 MagnetOs is indicated for all Three MagnetOs formulations indicated $5.2B $5.2 spinal procedures providing increased opportunity and outside of spine providin
Slide 43: Kuros continues to expand into new markets
Kuros continues to expand into new markets Regulatory registrations 2024 - New Zealand - United Arab Emirates Regulatory registrations 2025 - Lebanon - Brazil* On-going registrations 2025 - Saudi Arabia - Jordan - Oman - Kuwait - Qatar Blue: Registration completed Yellow: Ongoing registration proces
Slide 44: 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 44 MagnetOs Easypack Putty and MagnetOs Flex Matrix are available
Slide 45: MagnetOs provides improved flexibility compared to alternatives
Because of these efforts, MagnetOs provides significantly improved flexibility & peace of mind compared to alternatives Posterolateral Intervertebral Pelvis & Category (product) Spine (in the disc space (in the Extremities (in the U.S.) U.S.) U.S.) “I like not having to worry MagnetOs about where yo
Slide 46: MagnetOs minimizes safety concerns experienced with alternatives
And, MagnetOs minimizes safety concerns experienced with alternatives Category (product) Safety concern Handling concern Heterotopic bone formation, radiculitis, Must be used with BMP-2 (Infuse) dysphagia, inflammation, Medtronic cages and potential for increased carrier/scaffold1 cancer1 Handling &
Slide 47: Why do spine surgeons choose bone graft substitutes vs. cement?
Why do spine surgeons choose bone graft substitutes vs. cement? MagnetOs & cement/cement-like products are very different technologies with different clinical applications Cement/cement-like products are used when a Bone graft substitutes like MagnetOs are used to structural ‘cement’ is required, se
Slide 48: What else influences surgeon choice?
What else influences surgeon choice? Handling & indications: Surgeons want a product that is readily available, easy Efficacy/data: to use/mold, and stays put, wherever they need it Surgeons look for products with Level I data Salespeople: Sales agents & distributors Peer Influence: influence surgeo
Slide 49: Kuros designs surgeon engagement to drive adoption & advocacy
Kuros designs surgeon engagement to drive adoption & advocacy “Thank you! I learned a great deal and plan to apply this in my OR.” “Excellent data. I’m now expanding MagnetOs to new procedures I hadn’t used it for before.” “Much better understanding of the science—and I’m excited to use MagnetOs in
Slide 50: 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 Area Area Area Area Managing distributor Director Director Director Director Director European partners across the Globe Sales Director Regional Regional Regional Regional Region
Slide 51: Our strategic alliance with Medtronic expands access & accelerates adoption
Our strategic alliance with Medtronic expands access & accelerates adoption Medtronic serves as exclusive sales agent for MagnetOs in select, mutually agreed spine surgery territories Kuros works collaboratively to sell, market and provide support services to Medtronic’s sales force Kuros reta
Slide 52: Kuros is building for success in the extremities market
Kuros is building for success in the extremities market $440M U.S. foot & ankle segment1 $475M U.S. trauma$474market2 PRIMARY $440 SECONDARY $160M “The foot bone graft Hindfoot Hindfoot $160M substitute segment is experiencing rapid growth, Fracture fueled by a surge in $187M diabetic foot complicat
Slide 53: Our dedicated commercial business unit will provide surgeon focus
Our dedicated commercial business unit will provide surgeon focus Kuros Biosciences 1 1 Clinical R&D Distribution SPINE EXTREMITIES Sales & Marketing Sales & Marketing 53
Slide 54: New extremities team is making significant progress
New extremities team is making significant progress ― Added extremity senior leadership team with significant experience & relationships ― Identified target indications: foot & ankle, trauma ― Achieved regulatory clearance for extremity indications* ― Established extremity Surgeon Advisory Board ― A
Slide 55: Kuros is well positioned to pursue strategic M&A opportunities
Kuros is well positioned to pursue strategic M&A opportunities Strong financial foundation No debt – Clean balance sheet enables flexible deal structuring EBITDA positive – Profitable operations with consistent earnings Cash-flow positive – Sustainable growth without external capital Strategic oppor
Slide 56: Clinical evidence generation
Clinical evidence generation 56
Slide 57: Limited published high-quality evidence: 6 Level I studies
There is limited published high-quality evidence to aid surgeon & hospital decisions: 6 Level I studies, 350+ bone grafts B-TCP vs autograft Peptide vs autograft DBM vs autograft Posterolateral fusion Single level Anterior Single level PLF study3 (PLF) study1 Cervical Discectomy and Fusion (ACDF) st
Slide 58: Kuros is going above and beyond to prove efficacy
Kuros is going above and beyond to prove efficacy Examples Investigational Device Exemption (IDE)1 Pre-market approval (PMA) • BMP-2 (Infuse®) Description required • P-15 Peptide (i- Class III FACTOR®) Evidence Required Robust Human Clinical Study 510(k) pathway2 required to prove substantial equiva
Slide 59: Developing the data that surgeons and hospitals demand
Developing the data that surgeons and hospitals demand MagnetOs is researched in 7 Level I human clinical trials Level I 2 Kuros initiated spine clinical trials o PRECISE (MagnetOs vs. CBA) ongoing clinical trial o PROOF (MagnetOs vs. DBM or fibers) ongoing clinical trial 1 Kuros initiated foot
Slide 60: MagnetOs delivers consistent clinical results
MagnetOs delivers consistent clinical results – Across various formulations, surgeons, indications and patient populations Clinical, Radiographic, and Histologic Outcomes of Ankle Arthrodesis in a Diabetic Patient using a Biphasic Calcium Phosphate Bone Graft with a Novel Submicron Needle-shaped Sur
Slide 61: MagnetOs Flex Matrix Lumbar or Cervical PLF
Early Radiographic and Clinical Outcomes of Five Patients Undergoing Open Instrumented Posterolateral Fusion Surgery with MagnetOsTM Flex Matrix1 MagnetOs Flex Matrix Lumbar or Cervical PLF - 5 patients with comorbidities - Post-operative imaging Dr. Ryan Goodmanson Port Huron, MI - Consistent bone
Slide 62: MagnetOs Easypack Putty Cervical PLF
Early Radiographic and Clinical Outcomes of Three Patients Undergoing Open Instrumented Posterolateral Fusion Surgery with MagnetOsTM Easypack Putty1 MagnetOs Easypack Putty Cervical PLF - 3 patients with multiple comorbidities Dr. Christopher Elia - Radiographic fusion Royal Oak, MI - Favorable out
Slide 63: MagnetOs Putty Lumbar Interbody
Biphasic Calcium Phosphate Bone Graft With a Unique Surface Topography: A Single-Center Ambispective Study for Degenerative Disease of the Lumbar Spine1 MagnetOs Putty Lumbar Interbody - 63 patients, 101 levels treated - 31 patients had 3 or more comorbidities Dr. Pierce Nunley Shreveport, LA - 90%
Slide 64: MagnetOs Granules PLF
Efficacy of Biphasic Calcium Phosphate Ceramic With a Needle-shaped Surface Topography Versus Autograft in Instrumented PLF1 MagnetOs Granules PLF - 91 patients, 1 in 5 patients were active smokers* - 1 year fusion results by thin-cut CT Dr. Moyo Kruyt Utrecht, Netherlands - 79% MagnetOs fusion rate
Slide 65: MagnetOs Putty Lumbar Interbody
Fusion Rate of Biphasic Calcium Phosphate Bone Graft with Needle-Shaped Submicron Topography in Interbody Lumbar Fusion for Degenerative Disc Disease: A Single-Center Retrospective Review1 MagnetOs Putty Lumbar Interbody - 55 patients Dr. Faheem Sandhu - Patients averaged 3 comorbidities Washington,
Slide 66: MagnetOs Easypack Putty TLIF
A Retrospective Review of MagnetOsTM Easypack Putty Bone Graft Used Standalone in Transforaminal Lumbar Interbody Fusion1 MagnetOs Easypack Putty TLIF - 20 patients, 36 levels - 94.4% fusion rate at 1 year Dr. Justin Davis - 65% obese Kansas City, KS - 35% diabetic - 30% previous lumbar surgery Worl
Slide 67: MagnetOs in action
MagnetOs in action Histology shows some remnant MagnetOs granules (white) surrounded by mature bone two-years post-operatively1 Histology shows well organized and mature mineralized bone with numerous osteocyte lacunae1 67 1. Data on file
Slide 68: Kuros' scientific focus sets us apart from the competition
Kuros’ scientific focus sets us apart from the competition Educating and driving brand awareness >600 surgeons engaged at scientific events in the last 6 months: • Conference podiums • Kuros hosted Journal Clubs & Scientific Symposia • ‘Meet the Expert’ virtual meetings & dinners 68
Slide 69: Opportunities for collection of additional evidence
There are clear opportunities for collection of additional evidence Foot & Ankle Oncology Trauma 69
Slide 70: MagnetOs: Patient Impact from a Surgeon's Perspective
MagnetOsTM : Patient Impact from a Surgeon’s Perspective Greg Berlet, MD, FRCS(C), FAOA Orthopedic Foot & Ankle Surgeon Capital Markets Day May 13, 2025 Ticker: KURN SIX Swiss Stock Exchange 70
Slide 71: MagnetOs: A Surgeon's Perspective
MagnetOs: A Surgeon’s Perspective My Patient | Trust Is Earned | Data, Innovation, & Focus 71
Slide 72: MagnetOs: A Surgeon's Perspective
MagnetOs: A Surgeon’s Perspective My Patient | Mother to 3 Adult Children | Middle School Secretary | Bookkeeper for Husband’s Business | 52 Yrs Old History of Injuries Motor vehicle accident @ age 32 1st Surgical Intervention: Repair calcaneal fracture and lisfranc injury Near-term Outcome: Success
Slide 73: Non-Unions
MagnetOs: A Surgeon’s Perspective My Patient | Mother to 3 Adult Children | Middle School Secretary | Bookkeeper for Husband’s Business | 52 Yrs Old Devastating for Patient, Surgeon and Healthcare System Patient: Loss of Income Loss of Employment Risk Compromise of Family Role Non-Unions Surgeon: Se
Slide 74: Non-Unions
MagnetOs: A Surgeon’s Perspective My Patient | Mother to 3 Adult Children | Middle School Secretary | Bookkeeper for Husband’s Business | 52 Yrs Old 78.7% Union Rate in F&A1 - Smokers 5.81x Risk of Non-Union2 - Diabetics 3.3x Risk of Non-Union3 Non-Unions TTC Fusion 11.8% Amputation Rate4 - 6.2x Hig
Slide 75: SUCCESS!
MagnetOs: A Surgeon’s Perspective My Patient | Mother to 3 Adult Children | Middle School Secretary | Bookkeeper for Husband’s Business | 52 Yrs Old Before After …3rd Surgical Intervention Revision Subtalar Joint Arthrodesis w/ MagnetOsTM Near-term Outcome: 50% Healing @ 12 wks SUCCESS! Before After
Slide 76: 210,000 foot & ankle bone fusions annually in the US
MagnetOs: A Surgeon’s Perspective My Patient 210,000 There are 1 foot & ankle bone fusions annually in the US alone. 76 1. AcuityMD Procedure Data on File
Slide 77: Trust Is Earned
MagnetOs: A Surgeon’s Perspective My Patient | Trust Is Earned | Data, Innovation, & Focus 77
Slide 78: Patient Trust Is Earned
MagnetOs: A Surgeon’s Perspective Patient Trust Is Earned Patients need to be able Have Never Been Higher Expectations Of Surgical Success to trust that we are doing Medical Expenses everything we can to intervene once, Economic Impact of Fusion Failures do it effectively, and get them their life ba
Slide 79: Patient Trust is Earned
MagnetOs: A Surgeon’s Perspective Patient Trust is Earned My Commitment? Investment In Knowledge and Innovation To Best Serve My Patients • What Is The Current State Of Bone Biologics? • What Can I Do To Help Patients Heal? 79
Slide 80: Data, Innovation, & Focus
MagnetOs: A Surgeon’s Perspective Patient Trust Is Earned | Current State of Extremity Bone Healing? Lack of Extremity BG Innovation In Last Decade Lack of: Extremities Has Focused Innovation on: Data, - Metal Devices (Nails, Screws, Plates) Innovation, - Advanced Materials for Devices (ex. Ossio, M
Slide 81: Reasons for Product Use?
MagnetOs: A Surgeon’s Perspective Patient Trust Is Earned | Current State of Extremity Bone Healing? Lack of: Data, Innovation, Reasons for Product Use? & Focus Correlated with Available Data &/or Marketing • Segment Leader Augment (Stryker) – Level I Evidence is Primary Driver1 - Level I Data Is Ov
Slide 82: Every Fusion Needs a Bone Graft Strategy
MagnetOs: A Surgeon’s Perspective Patient Trust Is Earned | What Can I Do To Help Patients Heal? Every Fusion 50% Coverage of Cross-Sectional Bone Needs a Bone Graft Strategy - Associated with Improved Fusion Rates1 - 16.4x More Likely to Achieve Fusion1 Multiple Contributors: Dissection Bone Prepar
Slide 83: Data, Innovation, & Focus
MagnetOs: A Surgeon’s Perspective My Patient | Trust Is Earned | Data, Innovation, & Focus 83
Slide 84: Has Data, Has Novel Innovation, Has Focus
MagnetOs: A Surgeon’s Perspective Data, Innovation, & Focus | MagnetOs Has Data Has Novel Innovation Has Focus 84
Slide 85: Project Fusion
MagnetOs: A Surgeon’s Perspective Data, Innovation, & Focus | Commitment to Clinical Data – Project Fusion Project Level-I 2 Kuros initiatied spine clinical trials PRECISE (MagnetOs vs. CBA) ongoing spine clinical trial PROOF (MagnetOs vs. DBM or fibers) ongoing spine clinical trial 1 Kuros
Slide 86: Novel & Defined Mode of Action
MagnetOs: A Surgeon’s Perspective Data, Innovation, & Focus | Novel & Defined Mode of Action | Surface-Driven Cell Engagement NeedleGripTM Surface Elongated pro-healing M2 macrophages on the NeedleGrip surface.1 • Differentiated by How it Works & MOA Evidence. • Scientifically Published MOA*†1-6 & I
Slide 87: Takeaways
MagnetOs: A Surgeon’s Perspective My Patient | Trust Is Earned | Data, Innovation, & Focus Takeaways 87
Slide 88: MagnetOs: A Surgeon's Perspective
MagnetOs: A Surgeon’s Perspective • Non-Unions are Clinical and Economic Problems in Foot & Ankle • Industry Has Focused Innovation & Research Elsewhere • Lack of Extremities Focus By Biologics Brands • Kuros Clinical Data and Future Extremity Focus Has It Positioned To Achieve Success In This Segme
Slide 89: Business transformation
Business transformation 89
Slide 90: Transforming the structure to drive economies of scale and operational leverage
Transforming the structure to drive economies of scale and operational leverage STRATEGY Sales & Marketing Functional expansion and extension • Customer service • Operations SALES Powers the FRONT END • Supply • Investor relations R&D, Medical & • Finance (accounting, tax, treasury) Clinical affairs
Slide 91: Illustration of operational leverage over time
Illustration of operational leverage over time and respective levers INVESTMENT SCALING LEVERAGE Expected future operational leverage in PHASE PHASE PHASE 25 Revenues Business intelligence Marketing Business intelligence Fixed costs 20 Logistics Digitization EBITDA margin Workflow automation 15 Econ
Slide 92: Digitizing the value chain
Digitizing the value chain level to gain the benefits Management Processes Support Processes Core Processes Strategy Risk Financial R&D / Marketing Plan Source Make Deliver Mgmt. Mgmt. Mgmt. Medical Benefits after digitalization Enhanced financial Improved inventory Enhanced data accuracy Improved e
Slide 93: Geographic expansion, diversification & redesign of supply chain
Geographic expansion, diversification & redesign of supply chain to de-risk the business and optimize tariffs & tax Diversify, de-risk & prepare for further organic growth Doubling capacity in NL, again Bilthoven New production facility in U.S. Zurich Atlanta Levers to modify processes & maintai
Slide 94: Growing, scaling, innovating & increasing resilience in 2025
Growing, scaling, innovating & increasing resilience in 2025 Clinical Operational Product Market Finance, M&A Realizing Establishing clinical Scaling supply Expanding Growing tax benefits, protecting confidence & driving portfolio & geographies & against tariffs & through data efficiency platforms a
Slide 95: Q&A
Q&A Chris Fair Joost de Bruijn, PhD Daniel Geiger Joe Ross Greg Berlet, MD, CEO, Board Member Executive Director and President, Chief Financial Officer SVP, Marketing & Business Development FAOA, FRCS(C) Innovation & Strategy Orthopedic Surgeon 95
Slide 96: Thank you
a ee Thank you