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 beengreatly 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 tofurtheraccelerate 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.
Kuros has a late stage pipeline which has generated 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.