Kuros Biosurgery AG, a Zurich, Switzerland-based biotechnology company developing novel biomaterials and bioactive-biomaterial combination products and focused in therapeutic areas covering sealants and orthobiologics, closed a CHF15M financing round.
The round was led by LifeCare Partners and LSP Life Sciences Partners with participation of non-disclosed family offices from Germany and Switzerland as well as existing investors including VI Partners (via Venture Incubator) and The Swiss Helvetia Fund, and Omega Funds, a Boston based life sciences-focused fund. As part of the financing, Dr. Gerhard Ries, Managing Partner of LifeCare Partners, Dr. Jörg Neermann, Partner at LSP and Dominik Ellenrieder will join Kuros’ board.
The company, which expects a second closing later this year, intends to use the funds to bring its lead sealant product, KUR-023, to market in Europe and the US and to further progress its lead orthobiologics product, KUR-111, into Phase III clinical studies, amongst other key corporate activities.
Led by Didier Cowling, Chief Executive Officer, Kuros focuses on the development of novel biomaterials and bioactive-biomaterial combination products in therapeutic areas covering sealants and orthobiologics.
The company has a late stage pipeline which has generated positive data in multiple clinical studies. Its most advanced sealant product candidate is KUR-023, a sealant that has 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.