Kuros Biosciences Ltd. · SIX:KURN
Kuros Biosciences — Non-Deal Roadshow (May 2023)
31 slides from Kuros Biosciences's roadshow presentation, May 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 mission: ease the burden of spine-related pain
Kuros is on a mission to ease the burden of spine-related pain through developing superior orthobiologics 3
Slide 4: Corporate highlights
Corporate highlights Swiss-headquartered biotech company with operations in the MagnetOs surface modified biologics portfolio launched Netherlands and US. Listed on the SIX Swiss Stock Exchange globally. Addressing $1B+ market opportunity. Targeting (Ticker: KURN) $100M annual sales within 5 years S
Slide 5: Management overview
Management overview Executive management Joost de Bruijn Daniel Geiger Chris Fair Chief Executive Officer Chief Financial Officer Chief Operating Officer Extended leadership team John Griffin Katherine Sage James Ryaby SVP & President US Sales VP Medical & Scientific SVP Clinical Affairs Affairs Phi
Slide 6: Strategic advisory board
Strategic advisory board Advisors Andrew A. Sama, MD Alpesh A. Patel, MD Kornelis Poelstra, MD, PhD Co-Chief of HSS Spine, NY Director of Orthopedic Rothman Orthopaedics. Spine Surgery, President, The Natl. Robotic Northwestern, Chicago Spine Institute of Las Vegas Thomas Cha, MD R. Todd Allen, MD F
Slide 7: Operational Highlights - 2022
Operational Highlights - 2022 MagnetOs • New MagnetOs formulations (Easypack Putty & Flex Matrix) received FDA 510(k) clearances and launched at Internationally recognized congresses • First data from MAXA RCT trial show promising results (78% fusion versus 42% for Autograft gold standard) • Complet
Slide 8: Financial Highlights
Financial Highlights Revenue from product sales Cash Runway into 2024 Kuros Ownership Approx revenue from product sales (000s, USD) 8.106 USD, 000s Dec 31, 2022 25% 6.104 Cash and cash equivalents 25,806 5.060 56% 10% 3.865 Trade and other receivables 3,879 2.936 7% 1.386 z Total cash and cash equiv
Slide 9: Potential addressable spinal fusion market
Potential addressable spinal fusion market Value of global bone graft market1 ($M) $2,997 US spinal procedures $2,351 $471 $1.338 CAGR: 6% $435 $1.035 $1.188 $881 2022 2030 2.783.883 Value of US bone graft market2,3 ($M) $1,956 $1,555 $774 1.748.606 $585 $720 $535 $435 $462 2022 2030 2022 2030 ■ Cel
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 • Kuros’ NeedleGripTM surface technology provides traction for vitally important ‘pro-healing' immune cells (M2 macro
Slide 13: MagnetOs suite of products
MagnetOs suite of products MagnetOs Granules MagnetOs Putty MagnetOs Easypack Putty MagnetOs Flex Matrix Cost effective solution for Cost effective solution for Ready-to-Use; Easy to Mold; Flexible; Highly wickable; large, open, reconstructive large, open, reconstructive Designed to Stay Put High gr
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 Q1 ‘23 R PROOF 2023 PRECISE 2023 Coronal fine-cut CT scans at one-year follow-up.
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 the bone growth factor parathyroid hormone (PTH) with the natural healing matrix known as fibrin, promoting spinal fusion by increasing the number and lifespan of bone-formi
Slide 16: Fibrin-PTH Phase 2: STRUCTURE
Fibrin-PTH Phase 2: STRUCTURE Design Methods Primary endpoint Study sites and Pls • Prospective, randomized • Single-level TLIF with Fibrin- • Radiological fusion determined • 14 study sites controlled single blind multi- PTH or local autograft added in by CT-scans and assessed by center study which
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 doubling our US sales team and expanding new territories MagnetOs Fibrin-PTH Clinical • Initiate PRECISE study • Phase 2 results Enroll PROOF study Phase 3 study start 02 • • Phas
Slide 18: Outlook for 2023
Outlook for 2023 • Continue strong growth of MagnetOs sales (US and OUS) • Complete Phase 2 clinical study of Fibrin-PTH in spine with initial data expected by the end of 2023 • Read-out of MAXA trial by the end of the year (100 patients comparing MagnetOs as stand-alone alternative to autograft 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 STRUCTURE US patients with degenerative disc disease. N=30 enrolled in randomized section; n=20 to be enrolled in non-randomized section in throughout 2023. R N=100 p
Slide 22: Income statement
Income statement Condensed Consolidated Income Statement 2022 2021 IFRS in TCHF, year ended December 31 Revenue from product sales 13,265 8,341 Revenue from collaborations 4,721 5,474 Total revenue 17,986 13,815 Costs of goods sold (7,217) (3,749) Gross profit 10,769 10,066 Research & development co
Slide 23: Balance sheet
Balance sheet Consolidated balance sheet 2022 2021 IFRS in TCHF, as of December 31 Total non-current assets 51,553 58,444 Current Assets Inventories 3,170 1,757 Prepayments and other assets 540 465 Trade receivables 2,817 1,691 Other receivables 801 356 Cash & cash equivalents 24,065 28,623 Total cu
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 years.1 The leading cause of days off work.2 More bed days than for any other 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 Boston (US) • Logistics • Sales & Marketing • Medical Education • Clinical development Schlieren (CH) • Financial head office • Fibrin
Slide 28: Company timeline
Company timeline May May June September July August 2016 2017 2018 2019 2021 2021 Listed on Swiss Exchange First patient treated with First patient treated with Full commercial launch of Launch of MagnetOs in US office opened in MagnetOs (EU) MagnetOs (US) MagnetOs (US) nine European countries Bosto
Slide 29: Our transformation over the past 4 years
Our transformation over the past 4 years June September July August • Transitioned from research/B2B 2018 2019 2021 2021 to science-focused & clinically First patient treated with Full commercial launch Launch of MagnetOs in US office opened in MagnetOs (US) of MagnetOs (US) nine European countries
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