Overview:
Kuros Biosciences, reported 136% rate of sales growth from $36 million USD in 2023 $86 million USD in 2024.
Swiss-based Kuros Biosciences, supplier of MagnetOs bone graft that includes the NeedleGrip™ surface technology, reported an exceptional 136% rate of sales growth from 31.7 million Swiss Francs ($36 million) in 2023 to 74.8 million Swiss Francs ($85 million) in 2024.
In addition, Kuros reached profitability in 2024 reporting an EBITDA of 2.2 million Swiss Francs ($2.5 million) in 2024 versus a loss in 2023 of 5.9 million Swiss Francs ($6.7 million).
To be sure, the company noted, “adjusted EBITDA excluding the Fibrin-PTH costs, recurring and one-time share-based compensation, and the relevant social security charges totaled at CHF 9.0 million ($10.2 million), representing an adjusted EBITDA margin of 11.9%.”
Kuros Biosciences CEO Chris Fair said of his company’s performance: “We recorded exceptional direct MagnetOs sales growth of 136%. This growth was driven by the successful roll-out of our technology in key markets, particularly as demand continues to grow globally. Overall, this was a transformative year for Kuros, marked by delivering our first positive EBITDA for the Group much earlier than anticipated.”
Fair continued, “In addition, exceeding cash flow breakeven is a key milestone for the company. Strategically, a landmark Level 1 clinical study published in Spine continues to drive customer preference.”
Medtronic Deal
“We also secured a five-year exclusive agreement with Medtronic to accelerate MagnetOs adoption in the U.S. Our expansion into adjacent extremities markets, portfolio innovation in minimally invasive surgery, and broader global distribution capabilities position us for continued explosive growth. With a strong foundation and a clear roadmap, Kuros is well-positioned to capitalize on emerging opportunities and drive sustained shareholder value.”
More Details and Outlook
According to the press release, direct MagnetOs sales “increased by 136% to CHF 74.8 million (2023: CHF 31.7 million).” MagnetOs is a bone graft that can grow bone even in soft tissue. It utilizes NeedleGrip™ surface technology which, per its website, “provides traction for our body’s vitally important ‘pro-healing’ immune cells (M2 macrophages).” This “unlocks previously untapped potential to stimulate stem cells—and form new bone throughout the graft.”
Kuros Group reported a positive outlook for future sales, with expected “sales growth of at least 60% in 2025” and anticipated “sales of between USD 220 million and USD 250 million by 2027.”
In 2025, Kuros plans to change its reporting currency from CHF to USD. Kuros also plans to expand its distribution network to the Asia Pacific and South American markets in 2025.
Kuros may also be welcoming a new board member. Kimberley Elting, an experienced medtech executive, has been proposed as a new board member. Elting has previously held executive leadership positions at Orthofix Medical, Inc., Trivascular Technologies, and St. Jude Medical.
