Kuros to acquire Xpand in an all-share strategic transaction to create a leading commercial stage orthobiologics company
Xpand’s first product MagnetOs , a novel orthobiologic, is approved for sale in the EU and has been filed for approval in the US. Xpand has operations in the Netherlands including manufacturing and an experienced management team and staff with extensive knowledge of the orthobiologics sector. Kuros’ modular submission to obtain CE mark for Neuroseal (KUR-023) is on-going with commercial launch in the European Union planned for 2017. Kuros’ existing orthobiologics product development, with two late-stage candidates, continues as planned. Kuros is now preparing for commercialization activities in 2017. Schlieren (Zurich), Switzerland, December 19, 2016 – Kuros Biosciences Ltd. (SIX:KURN) (“Kuros”) today announced the signing of a combination agreement with Xpand Biotechnology B.V. (“Xpand”) with the intention to acquire Xpand by way of an exchange of all Xpand shares for up to 2.105 million new Kuros shares, subject to customary conditions. Xpand is a privately-held company based in Bilthoven in the Netherlands. Its novel orthobiologic MagnetOs was approved for sale in the European Union in July 2016 and is under regulatory review in the US.