Kuros Biosciences Ltd. · SIX:KURN
Kuros Biosciences — Non-Deal Roadshow (August 2023)
31 slides from Kuros Biosciences's roadshow presentation, Aug 15, 2023
Slide 1: Kuros Biosciences: The future of spinal fusions
Kuros Biosciences The future of spinal fusions 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 on a mission to discover, develop and deliver innovative biologic fusion technologies
Kuros is on a mission to discover, develop and deliver innovative biologic fusion technologies 3
Slide 4: Corporate highlights
Corporate highlights Swiss-headquartered biotech company with operations in the Over 300+ Publications and 10+ active clinical studies. Strong Netherlands and US. Listed on the SIX Swiss Stock Exchange global network of KOLs (Ticker: KURN) Strong financial foundation: • Cash at ~$18.1M1, with a runw
Slide 5: Management overview
Management overview Executive management Joost de Bruijn Daniel Geiger Chris Fair Chief Executive Officer Chief Financial Officer Chief Operating Officer Extended leadership team John Griffin Katherine Sage James Ryaby SVP & President US Sales VP Medical & Scientific SVP Clinical Affairs Affairs Phi
Slide 6: Strategic advisory board
Strategic advisory board Advisors Andrew A. Sama, MD Alpesh A. Patel, MD Kornelis Poelstra, MD, PhD Co-Chief of HSS Spine, NY Director of Orthopedic Rothman Orthopaedics. Spine Surgery, President, The Natl. Robotic Northwestern, Chicago Spine Institute of Las Vegas Thomas Cha, MD R. Todd Allen, MD F
Slide 7: Operational highlights
Operational highlights • Accelerated commercial roll-out of MagnetOs in the U.S. on track • Key efficacy data on MagnetOs bone graft published in two prestigious, peer-reviewed scientific journals • In the first half of 2023, Kuros engaged into a limited, non-exclusive sales agency agreement with a
Slide 8: Financial highlights
Financial highlights Revenue from product sales Cash runway into Q3-2024 Kuros ownership Approx revenue from product sales (000s, USD) 13,834 USD, 000s Jun 30, 2023 26% Cash and cash equivalents 18,130 8,106 58% 9% 6,104 Trade and other receivables 5,570 5,060 7% 3,865 2,936 Total cash and cash equi
Slide 9: Potential addressable spinal fusion market
Potential addressable spinal fusion market Value of global bone graft market1 ($M) US spinal procedures3 $3,070 $2,440 CAGR: 6% $1,382 $1,018 $918 $697 $725 $770 2022 2030 2,783,883 Value of US bone graft market2 ($M) $1,956 $1,555 1,748,606 $774 $585 $720 $535 $435 $462 2022 2030 2022 2030 ■ Other
Slide 10: Spinal fusion surgery: challenges and opportunities
Spinal fusion surgery: challenges and opportunities ~6% Improve 60% CAGR Spinal fusion surgeries are growing ~6% Surgeons, medical organizations and Bone grafts are essential to improving YoY. Despite this, failure rate for surgical insurers are becoming more discerning fusion rates, increasing chan
Slide 11: Kuros solutions
Kuros solutions How do we address opportunities in the spine? Posterior column reconstruction Anterior column reconstruction MagnetOs: Launched Fibrin-PTH (KUR-113): Phase 2 A bone graft that unlocks previously The first ever investigational drug- untapped potential to stimulate stem biologic candid
Slide 12: MagnetOs
Ultra-high resolution scanning electron microscopy of the surface of MagnetOs: each needle is approximately 0.5 micron in diameter. MagnetOs NeedleGrip™: Getting a grip on non-unions • MagnetOs is a bone graft like no other: thanks to its NeedleGripTM surface technology, it grows bone even in soft t
Slide 13: MagnetOs suite of products
MagnetOs suite of products MagnetOs Granules MagnetOs Putty MagnetOs Easypack Putty MagnetOs Flex Matrix Strong Foundation and Easy to Handle, Apply and Ready-to-Use; Easy to Mold; Flexible; Highly wickable; Proven; Harnessing the Store; One Product for Designed to Stay Put High granule-volume Immun
Slide 14: MagnetOs: Overview of clinical studies
MagnetOs: Overview of clinical studies Prospective clinical studies Results from an ongoing prospective clinical trial Fully Interim Primary Study Study design Initiated enrolled results endpoint R MAXA Q4 ‘23 PARTNER Q4 ‘23 R PROOF Q2 '24 PRECISE Q2 '24 Coronal fine-cut CT scans at one-year follow-
Slide 15: Fibrin-PTH (KUR-113)
Fibrin-PTH (KUR-113) First drug-biologic combination for spinal fusion • Fibrin-PTH combines the well-established mechanism of action of parathyroid hormone (PTH) with the natural healing matrix known as fibrin, promoting spinal fusion by increasing the number and lifespan of bone-forming cells • Fi
Slide 16: Fibrin-PTH Phase 2: STRUCTURE
Fibrin-PTH Phase 2: STRUCTURE Design Methods Primary endpoint Study sites • Prospective, randomized • Single-level TLIF with Fibrin- • Radiological fusion determined • Patients enrolled in 15 study controlled single blind multi- PTH or local autograft added in by CT-scans and assessed by sites cente
Slide 17: Strategic plan for growth: key value drivers
Strategic plan for growth: 4 key value drivers 01 Expand depth and breadth of our commercial 2023 2024 2025 footprint by increasing our US sales team and investing into international partnerships MagnetOs MagnetOs Clinical • Primary endpoint: • Complete enrollment of MAXA and PARTNER PRECISE study 0
Slide 18: Outlook for H2 2023
Outlook for H2 2023 • Reaching the 12-month endpoint of the randomized part of Phase 2 clinical study of Fibrin-PTH in spine fusion at the end of 2023, expect to report results early 2024 • Completion of PARTNER study, data to be finalized for publication Q4 2023 • Submission of two retrospective in
Slide 19: Appendix
[Appendix] 19
Slide 20: Spinal fusion surgery
Spinal fusion surgery Two main types of surgery Anterior column 770k lumbar bone grafts per annum in the US1 Posterior column 640k lumbar bone grafts per annum in the US1 Today’s competitive landscape shows solutions that deliver high safety or efficacy… There is a clear market opportunity for a pro
Slide 21: Ongoing studies
Ongoing studies Trial Name Location Details Phase II trial; Fibrin PTH in transforaminal lumbar interbody fusion (TLIF) procedures in patients with STRUCTURE US degenerative disc disease. N=30 enrolled in randomized section; n=20 enrolled in non-randomized section, enrollment completed July 2023. R
Slide 22: Income statement
Income statement Condensed Consolidated Income Statement 2023, Jan-Jun 2022, Jan - Dec IFRS in TCHF, for period 6 months 12 months Revenue from product sales 12,866 13,265 Revenue from collaborations - 4,721 Total revenue 12,866 17,986 Costs of goods sold (2,142) (7,217) Gross profit 10,724 10,769 R
Slide 23: Balance sheet
Balance sheet Consolidated balance sheet 2023 2022 IFRS in TCHF, as of December 31 June 30 December 31 Total non-current assets 51,168 51,553 Current Assets Inventories 4,389 3,170 Prepayments and other assets 657 540 Trade receivables 4,162 2,817 Other receivables 1,018 801 Cash & cash equivalents
Slide 24: Spine-related pain is taking a huge toll on our society
Spine-related pain is taking a huge toll on our society: more days in bed, more days off work, and at a greater financial cost to westernized healthcare than any other condition. Physician visits have doubled over 20 More bed days than for any other The leading cause of days off work.2 years.1 condi
Slide 25: Spine-related pain
Spine-related pain Two most common ailments Normal spine Herniated disc Displaced vertebra Spinous process Compressed nerves Facet joint Pedicle Transverse process Disc Spinal cord Anterior Posterior longitudinal longitudinal ligament (ALL) ligament 25
Slide 26: Bone graft options for spinal fusion
Bone graft options for spinal fusion Graft category Properties Advantages Disadvantages Iliac crest bone graft • Osteoconductive • Gold standard • Patient complications such as pain & secondary site infections • Osteoinductive • Osteogenic First & second • Osteoconductive • Available in range of for
Slide 27: Company overview
Company overview Bilthoven (NL) • MagnetOs manufacturing hub • Clinical development & R&D • Marketing & International sales • Regulatory affairs • Quality management Atlanta (US) • Logistics • Sales & Marketing • Medical Education • Clinical development Schlieren (CH) • Financial head office • Fibri
Slide 28: Company timeline
Company timeline May May June September July August October July 2016 2017 2018 2019 2021 2021 2022 2023 Listed on Swiss First patient treated First patient treated Full commercial launch of Launch of US office opened Full commercial Completed Fibrin PTH Exchange with MagnetOs (EU) with MagnetOs (US
Slide 29: Our transformation over the past 4 years
Our transformation over the past 4 years August July June June 2020 2021 2022 2023 • Transitioned from research/B2B First patient treated with First human data for Full commercial launch of US HQ opened in Fibrin-PTH (KUR-113) in MagnetOs published MagnetOs Easypack Putty (US) Atlanta to science-foc
Slide 30: MagnetOs case report
MagnetOs case report Case courtesy of Dr. Alpesh A. Patel, Northwestern Memorial Hospital, Chicago, IL, USA 60-year-old female Diagnosis: Procedure: Post-Operative Outcomes: Unstable fractures at C2 and C4 that This patient underwent a 3-level posterior Post-Operative XRs and CTs show healed cervica
Slide 31: Expand the depth and breadth of our commercial footprint
Expand the depth and breadth of our commercial footprint, by doubling our US sales team and expanding new territories United States International • Direct sales team that spans 50 states • Launched MagnetOs in 13 new EU countries and 1 • Supported by growing network of independent APAC country agent