Kuros Biosciences USA has recently revealed a significant five-year exclusive sales agency collaboration with Medtronic, aimed at promoting the use of its MagnetOs bone graft technology.
Kuros Biosciences USA — a fully owned subsidiary of Kuros Biosciences AG (headquartered in Zürich, Switzerland) based in Atlanta — had already engaged in an initial trial partnership with Medtronic, whose offices are located in Fridley, Minnesota.
This new arrangement grants Medtronic exclusive rights to specific spine regions within the U.S. market over the next five years.
As per Kuros Biosciences, the MagnetOs bone graft is equipped with their “NeedleGrip” surface technology, which aids in attracting “pro-healing” M2 macrophage immune cells in the human body. This can initiate stem cell activation for bone regeneration and enhance graft fusion reliability. However, it’s important to note that MagnetOs has not received clearance from the U.S. FDA or Australia’s Therapeutic Goods Administration as an osteoinductive bone graft.
The company’s product lineup includes MagnetOs Putty and MagnetOs Granules. They reported a 149% boost in direct MagnetOsTM sales, reaching CHF 50.6 million (approximately $57.4 million USD) in the first nine months of 2024.
CEO of Kuros Biosciences, Chris Fair, commented on this development in a press announcement, “An initial trial agreement has now developed into a key strategic partnership with Medtronic, marking a substantial achievement for Kuros. This will support our scaling efforts, improve operating efficiency, and boost our rapid revenue growth in collaboration with Medtronic and independently.”
Menu
Menu