Date: 2015-11-11
Type of information: Financing round
Company: Kuros Biosurgery (Switzerland)
Investors: LifeCare Partners (Switzerland) LSP Life Sciences Partners (The Netherlands) undisclosed family offices from Germany and Switzerland, Omega Funds (USA - MA) VI Partners (Switzerland) The Swiss Helvetia Fund (Switzerland)
Amount: CHF 20 million
Funding type: financing round
Planned used: Kuros Biosurgery intends to use this financing 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.
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.
Others: * On November 11, 2015, Kuros Biosurgery announced 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. The first close of the financing round has been announced in August (see below).
* On August 18, 2015, Kuros Biosurgery AG, a biotechnology company developing novel biomaterials and bioactive-biomaterial combination products and focused in therapeutic areas covering sealants and orthobiologics, announced that it has closed a financing round of CHF15M. An additional investment is expected in a second closing later this year. The financing round 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. As part of the financing Dr. Gerhard Ries, Managing Partner of LifeCare Partners, Dr. Jörg Neermann, Partner at LSP and Dominik Ellenrieder will join the Kuros board.
Therapeutic area: Bone diseases - Technology - Services
