Kuros Announces the Second Closing of a CHF 20M Financing Round

11 Nov, 2015, 01:30 ET from Kuros

ZURICH, November 11, 2015 /PRNewswire/ --

Kuros Biosurgery AG, a biotechnology company developing novel biomaterials and bioactive-biomaterial combination products and focused in therapeutic areas covering sealants and orthobiologics, today 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 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 also became a shareholder during the financing round, which  was also supported by existing investors including VI Partners, Venture Incubator, and The Swiss Helvetia Fund, Inc.

About Kuros: 

Kuros 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.

Kuros has two biomaterial technology platforms, one based on fibrin sealants and the other based on its own proprietary synthetic technology that can mimic fibrin in many of its attributes. These materials can be used alone or in combination with biologically active molecules, and can be delivered in many forms including as injectable liquids, sprays, gels, pastes or preformed implants. The incorporation of the biologically active molecules into the matrices aims to maximize their activity by retention at the site of action.  Kuros has a number of methodologies to achieve the desired retention and release profiles of the biologically active molecules. The products are designed to combine ease of application with localized delivery.

The company is located in Zurich, Switzerland.

For more information, visit: www.kuros.ch

About LifeCare Partners: 

LifeCare Partners is an independent investment advisory firm providing financing to private and public life science companies. LifeCare Partners targets the entire life science industry with special focus on medical technology, diagnostics, biopharmaceuticals, food & nutrition, industrial biotechnology, biomaterials, e-health and bioenergy. Based in Basel, the LifeCare Partners team has successfully invested in more than 30 life science companies over the last years, of which a large number have already been listed on the stock exchange or have been acquired by leading players in the life science industry.

For more information, visit www.lifecarevc.com

About LSP 

LSP (Life Sciences Partners) is a leading independent European investment firm, providing financing for private and public life-science companies. Since the late 1980s, LSP's management has invested in a large number of highly innovative enterprises, many of which have grown to become leaders of the global life-science industry. With over USD 1 billion of investment capital raised to date and offices in Amsterdam, Munich and Boston, LSP is one of Europe's largest and most experienced specialist life-science investors.

For more information, please visit www.lspvc.com.

Press Enquiries:

Kuros
Didier Cowling, CEO
+41 (0)44 200 56 00
Alistair Irvine, CBO
+41 (0)44 200 56 00

For International Media Enquires:
Citigate Dewe Rogerson
david.dible@citigatedr.co.uk
David Dible, Sylvie Berrebi
+44 (0)207 638 9571


SOURCE Kuros