Kuros Biosciences USA, Inc. Announces an Exclusive Strategic Agreement with the Medtronic Spinal Division
Kuros Biosciences USA has announced a five-year exclusive sales agency agreement with Medtronic's Spinal Division. Under this strategic partnership, Medtronic will serve as the exclusive sales agent for Kuros' MagnetOs bone grafting technology in specific U.S. spine territories. This agreement transforms an initial trial arrangement into a long-term strategic alliance.
While Medtronic will handle sales and marketing activities in the agreed-upon territories, Kuros will maintain control over contracts, hospital partnerships, and revenue recognition. The company will also continue direct sales in non-contracted territories and markets outside of spine applications. The partnership aims to expand access to Kuros' MagnetOs technology, which is backed by clinical data and innovative designs.
Kuros Biosciences USA ha annunciato un accordo esclusivo di agenzia di vendita della durata di cinque anni con la Divisione Spinale di Medtronic. Sotto questa partnership strategica, Medtronic agirà come agente di vendita esclusivo per la tecnologia di innesto osseo MagnetOs di Kuros in specifici territori spinali negli Stati Uniti. Questo accordo trasforma un iniziale accordo di prova in un'alleanza strategica a lungo termine.
mentre Medtronic gestirà le attività di vendita e marketing nei territori concordati, Kuros manterrà il controllo sui contratti, le collaborazioni con gli ospedali e il riconoscimento dei ricavi. Inoltre, l'azienda continuerà le vendite dirette in territori e mercati non contrattati e al di fuori delle applicazioni spinali. L'obiettivo della partnership è ampliare l'accesso alla tecnologia MagnetOs di Kuros, che è supportata da dati clinici e design innovativi.
Kuros Biosciences USA ha anunciado un acuerdo exclusivo de agencia de ventas por cinco años con la División de Columna de Medtronic. En esta asociación estratégica, Medtronic actuará como el agente de ventas exclusivo para la tecnología de injerto óseo MagnetOs de Kuros en territorios específicos de columna en los Estados Unidos. Este acuerdo transforma un acuerdo inicial de prueba en una alianza estratégica a largo plazo.
Mientras Medtronic se encargará de las actividades de ventas y marketing en los territorios acordados, Kuros mantendrá el control sobre los contratos, las asociaciones con hospitales y el reconocimiento de ingresos. La empresa también continuará las ventas directas en territorios y mercados no contratados y fuera de las aplicaciones de columna. El objetivo de la asociación es ampliar el acceso a la tecnología MagnetOs de Kuros, respaldada por datos clínicos y diseños innovadores.
쿠로스 바이오사이언스 USA는 메드트로닉 척추 사업부와 5년간의 독점 판매 대행 계약을 발표했습니다. 이 전략적 파트너십에 따라 메드트로닉은 특정 미국 척추 지역에서 쿠로스의 마그네토스 뼈 이식 기술의 독점 판매 대리인 역할을 하게 됩니다. 이 계약은 초기 시험 계약을 장기 전략적 제휴로 전환합니다.
메드트로닉은 합의된 지역에서 판매 및 마케팅 활동을 담당하는 반면, 쿠로스는 계약, 병원 파트너십 및 수익 인식에 대한 통제권을 유지합니다. 또한 쿠로스는 계약되지 않은 지역 및 척추 애플리케이션 외의 시장에서도 직접 판매를 계속할 것입니다. 이 파트너십은 임상 데이터와 혁신적인 디자인으로 뒷받침되는 쿠로스의 MagnetOs 기술에 대한 접근을 확대하는 것을 목표로 합니다.
Kuros Biosciences USA a annoncé un accord d'agence de vente exclusif de cinq ans avec la Division Spinale de Medtronic. Dans le cadre de ce partenariat stratégique, Medtronic agira en tant qu'agent de vente exclusif pour la technologie de greffon osseux MagnetOs de Kuros dans des territoires spécifiques aux États-Unis. Cet accord transforme un arrangement d'essai initial en une alliance stratégique à long terme.
Alors que Medtronic prendra en charge les activités de vente et de marketing dans les territoires convenus, Kuros conservera le contrôle sur les contrats, les partenariats hospitaliers et la reconnaissance des revenus. L'entreprise continuera également les ventes directes dans des territoires non contractés et dans des marchés en dehors des applications spinales. L'objectif du partenariat est d'élargir l'accès à la technologie MagnetOs de Kuros, soutenue par des données cliniques et des designs innovants.
Kuros Biosciences USA hat eine exklusive Verkaufsagenturenvereinbarung mit der Wirbelsäulensparte von Medtronic für fünf Jahre angekündigt. Im Rahmen dieser strategischen Partnerschaft wird Medtronic als exklusiver Verkaufsagent für die Knochenersatztechnologie MagnetOs von Kuros in bestimmten Wirbelsäulenregionen der USA fungieren. Diese Vereinbarung wandelt ein anfängliches Testabkommen in eine langfristige strategische Allianz um.
Während Medtronic die Verkaufs- und Marketingaktivitäten in den vereinbarten Gebieten übernimmt, behält Kuros die Kontrolle über Verträge, Krankenhauspartnerschaften und die Erlösanerkennung. Das Unternehmen wird auch weiterhin Direktverkäufe in nicht vertraglichen Gebieten und Märkten außerhalb der Wirbelsäulenanwendungen tätigen. Ziel der Partnerschaft ist es, den Zugang zur Technologie MagnetOs von Kuros, die durch klinische Daten und innovative Designs unterstützt wird, zu erweitern.
- Strategic 5-year exclusive partnership with industry leader Medtronic
- Expanded market access through Medtronic's sales network
- Kuros retains control over contracts and revenue recognition
- Maintains ability to sell directly in non-contracted territories
- None.
Medtronic will act as the exclusive sales agent of MagnetOsTM for Kuros Biosciences USA, Inc. in mutually agreed upon sales territories for use in spine surgeries
Kuros will work collaboratively to sell, market and provide support services to Medtronic's sales force
Kuros will keep responsibility for contracts, hospital partnerships and the recognition of revenue from sales
Kuros will continue to sell directly in non-contracted territories as well as in markets outside of spine
This agreement transforms an initial trial agreement into a strategic alliance
SCHLIEREN, SWITZERLAND / ACCESSWIRE / January 7, 2025 / Kuros Biosciences USA Inc., ("Kuros"), a wholly owned subsidiary of Kuros Biosciences AG, a global leader in advanced musculoskeletal bone healing technologies, today announced a strategic five-year, exclusive sales agency agreement with Medtronic, a leading global healthcare technology company. The agreement provides Medtronic with exclusivity in certain spine geographies within the U.S. market, underscoring a shared commitment to expanding access to Kuros' pioneering MagnetOs bone grafting technology.
This agreement positions Kuros for new opportunities in the U.S. spine market and also paves the way for broader adoption of the MagnetOs family of products, which are supported by robust clinical data and innovative designs. This agreement transforms an initial trial agreement into a strategic alliance for a period of five years.
Chris Fair, Chief Executive Officer of Kuros Biosciences, commented: "What started as a trial agreement has now evolved into a strategic alliance with Medtronic reflecting an important milestone for Kuros. This agreement will also help us drive the scaling up process, further optimize our operating leverage, and continue our rapid revenue growth both with Medtronic and in our own direct channels."
For further information, please contact:
Kuros Biosciences AG |
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About MagnetOs
MagnetOs is a bone graft like no other: thanks to its NeedleGripTM surface technology, it grows bone even in soft tissues. This surface technology provides traction for our body's vitally important ‘pro-healing' immune cells (M2 macrophages). This in turn, unlocks previously untapped potential to stimulate stem cells - and form new bone throughout the graft. The growing body of science behind NeedleGrip is called osteoimmunology. But for surgeons and their patients it means one thing: a more predictable fusion.*†‡1-5
Indications statement
Please refer to the instructions for use for your local region for a full list of indications, contraindications, warnings and precautions.
About Kuros Biosciences
Kuros Biosciences is on a mission to discover, develop and deliver innovative biologic technologies. With locations in the United States, Switzerland and the Netherlands, the company is listed on the SIX Swiss Exchange. The company's first commercial product, MagnetOsTM, is a unique advanced bone graft that has already been used across four continents. For more information on the company, its products and pipeline, visit kurosbio.com.
Forward Looking Statements
This media release contains certain forward-looking statements that involve risks and uncertainties that could cause actual results to be materially different from historical results or from any future results expressed or implied by such forward-looking statements. You are urged to consider statements that include the words "will" or "expect" or the negative of those words or other similar words to be uncertain and forward-looking. Factors that may cause actual results to differ materially from any future results expressed or implied by any forward-looking statements include scientific, business, economic and financial factors. Against the background of these uncertainties, readers should not rely on forward-looking statements. The Company assumes no responsibility for updating forward-looking statements or adapting them to future events or developments.
* Results from in vivo laboratory testing may not be predictive of clinical experience in humans. For important safety and intended use information please visit kurosbio.com.
† MagnetOs is not cleared by the FDA or TGA as an osteoinductive bone graft.
‡ MagnetOs has been proven to generate more predictable fusions than two commercially available alternatives in an ovine model of posterolateral fusion.
1. Van Dijk, et al. eCM. 2021; 41:756-73.
2. Duan, et al. eCM. 2019; 37:60-73.
3. Van Dijk, et al. Clin Spine Surg. 2020;33(6): E276-E287.
4. Van Dijk, et al. JOR Spine. 2018; e1039.
5. Van Dijk, et al. J Biomed Mater Res. Part B: Appl Biomater. 2019;107(6):2080-2090.
SOURCE: Kuros Biosciences AG
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FAQ
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