Kuros Biosciences and Medtronic Form Strategic Alliance for U.S. Spine Market

Kuros Biosciences USA, Inc. (Kuros) has announced a strategic five-year, exclusive sales agency agreement with Medtronic, a leading global healthcare technology company. This 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 alliance positions Kuros for new opportunities in the U.S. spine market and paves the way for broader adoption of the MagnetOs family of products, which are supported by robust clinical data and innovative designs.

Under the terms of the agreement, Medtronic will act as the exclusive sales agent of MagnetOs for Kuros in mutually agreed upon sales territories for use in spine surgeries. Kuros will work collaboratively with Medtronic to sell, market, and provide support services to Medtronic's sales force. Kuros will maintain responsibility for contracts, hospital partnerships, and the recognition of revenue from sales, while continuing to sell directly in non-contracted territories as well as in markets outside of spine.

Chris Fair, Chief Executive Officer of Kuros Biosciences, commented on the agreement: "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."

The strategic alliance with Medtronic enhances Kuros' market penetration and distribution capabilities for MagnetOs products by providing access to Medtronic's extensive sales and marketing expertise. This collaboration will enable Kuros to expand its reach and penetrate deeper into the U.S. spine market, ultimately driving revenue growth and market share.



The exclusivity granted to Medtronic in certain spine geographies within the U.S. market will impact the competitive landscape for MagnetOs products by creating a strategic alliance that positions Kuros for new opportunities in the U.S. spine market. This agreement transforms an initial trial agreement into a strategic alliance for a period of five years, paving the way for broader adoption of the MagnetOs family of products. The agreement provides Medtronic with exclusivity in certain spine geographies within the U.S. market, allowing Medtronic to act as the exclusive sales agent of MagnetOs in mutually agreed upon sales territories for use in spine surgeries, while Kuros continues to sell directly in non-contracted territories as well as in markets outside of spine.

In conclusion, the strategic alliance between Kuros Biosciences and Medtronic is a significant development for the U.S. spine market, as it positions Kuros for new opportunities and enhances its market penetration and distribution capabilities for MagnetOs products. This alliance is expected to drive revenue growth and market share for Kuros, while also expanding access to Kuros' pioneering bone grafting technology in the U.S. market.