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Kuros Biosciences signs agreement on distribution of MagnetOs in Australia and New Zealand

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Kuros Biosciences (SIX: KURN) today announced that its Dutch subsidiary, Kuros Biosciences BV, has signed a distribution agreement for the Australian and New Zealand healthcare markets with Surgical Specialties, a subsidiary of the Paragon Care Group (ASX: PGC), a leading provider of medical equipment, devices and consumables.

Under the agreement, Kuros will supply Surgical Specialties with its MagnetOs bone graft products and Surgical Specialties will be responsible for their distribution in Australia and New Zealand.  In addition, Surgical Specialties will be responsible for the application and maintenance of the regulatory and reimbursement approvals in Australia and New Zealand.  Further terms of the agreement were not disclosed.

Kuros’s MagnetOs bone graft products possess an advanced submicron surface topography that directs bone formation after implantation. With its unique topography, it preferentially directs early wound healing toward the bone-forming pathway, resulting in predictable healing, reliable fusions and an osteoinductive claim in Europe.

Joost de Bruijn, Chief Executive Officer of Kuros, said “This agreement further expands the geographies in which our MagnetOs product family will be available to orthopedic and spinal surgery patients, making their lives better and further expanding our business.  We look forward to working together with the experienced and talented team at Surgical Specialties in bringing these important products to more  surgeons and patients.”

Phil Nicholl, Chief Executive Officer of Surgical Specialties, said “In our view, MagnetOs is the leading synthetic bone graft and we are very pleased that Kuros has selected Surgical Specialties as its partner to bring this exciting product line to the patients we serve.”