- MagnetOs Granules and MagnetOs Putty receive TGA approval in Australia
- Initial launch of MagnetOs on the Australian market scheduled for late Q1 2021.
Kuros Biosciences BV, the Dutch subsidiary of Kuros Biosciences AG (SIX: KURN), today announced that MagnetOs Granules and MagnetOs Putty have both been entered on the Australian Register of Therapeutic Goods allowing marketing and sales on the Australian market. Surgical Specialties Pty Ltd, Kuros’s Australian distributor, intends to start marketing MagnetOs as soon as it is listed on The Prostheses List, anticipated on March 1, 2021. The Prostheses List identifies the medical devices, including surgically implanted prostheses and human tissue items, that are eligible for reimbursement from all private health insurers.
Joost de Bruijn, Chief Executive Officer of Kuros, said: "We are delighted that MagnetOs has achieved regulatory approval in Australia and that we will soon be able to add MagnetOs to the bone grafting options of clinicians and patients in Australia. We would also like to thank Surgical Specialties, our partner in Australia, for their work enabling this approval."
MagnetOs is supported by a growing set of data demonstrating equivalence to the current gold standard, autograft, with over three years of clinical experience since its first use in the UK in May 2017. Sales are accelerating and this approval in Australia is a step towards the further use of MagnetOs around the world.
About MagnetOs bone graft
MagnetOs bone graft has an advanced submicron surface topography that leads to the formation of bone in spinal fusion defects rather than scar tissue. In preclinical models, MagnetOs preferentially directs the body’s early wound healing response toward the bone-forming pathway, an effect that is so potent that bone can be formed even in soft tissues without the need for added cells or growth factors. This ground-breaking research led to Kuros attaining an osteoinductive claim for MagnetOs in Europe.
This media release contains certain forward-looking statements that involve risks and uncertainties that could cause actual results to be materially different from historical results or from any future results expressed or implied by such forward-looking statements. You are urged to consider statements that include the words "will" or "expect" or the negative of those words or other similar words to be uncertain and forward-looking. Factors that may cause actual results to differ materially from any future results expressed or implied by any forward-looking statements include scientific, business, economic and financial factors, Against the background of these uncertainties, readers should not rely on forward-looking statements. The Company assumes no responsibility for updating forward-looking statements or adapting them to future events or developments.
Kuros Biosciences is a leader in next generation synthetic bone graft technologies for targeted and controlled bone healing. Kuros’s bone graft substitute, MagnetOs, is commercialized in the US and UK for use in posterolateral spinal fusions. Kuros’s lead product in development, Fibrin PTH, a drug-biologic combination for spinal interbody fusion, is entering a phase 2a clinical trial in the U.S. Kuros is located in Schlieren (Zurich), Switzerland, Bilthoven, The Netherlands and Burlington (MA), U.S.A. The Company is listed according to the International Reporting Standard on the SIX Swiss Exchange under the symbol KURN. Visit www.kurosbio.com for additional information on Kuros, its science and product pipeline.
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