KUROS announces second closing of a CHF 20 million financing round

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16.11.2015

Kuros Biosurgery AG, a biotechnology company developing novel biomaterials and bioactive-biomaterial combination products, announces that it has raised an additional CHF 5 million in a fully subscribed second closing of its financing round.

The CHF 5 million was raised from a group of non-disclosed new and existing investors and brings the total raised in the round to CHF 20 million. Didier Cowling, Chief Executive Officer at Kuros, said: “We have been greatly encouraged by the level of interest we have received in this financing round from both new and existing investors. The expansion of the financing round will enable us to further accelerate our efforts to bring our unique sealant products to market and to progress our lead orthobiologics product into the final stage of clinical testing.”

The first close of the financing round announced in August was led by LifeCare Partners (Switzerland) and LSP Life Sciences Partners (Netherlands) as new investors with participation of non-disclosed family offices from Germany and Switzerland. Omega Funds, a Boston based life sciences-focused fund is also becoming a shareholder during this financing round. The round was supported by existing investors including VI Partners (via Venture Incubator) and The Swiss Helvetia Fund, Inc.

Market entry imminent
Kuros, located in Zurich, is focused on the development of novel biomaterials and bioactive-biomaterial combination products in therapeutic areas covering sealants and orthobiologics. Kuros has a late stage pipeline which has generated highly encouraging data in multiple clinical studies. Its most advanced sealant product candidate is KUR-023, a sealant that has successfully completed European clinical development and is close to being CE Marked. KUR-111 and KUR-113, Kuros’ most advanced orthobiologic products have both met the primary endpoints in large well controlled Phase II clinical studies and are progressing towards Phase III.

(Press release)

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