20.04.2016 – 07:17

Kuros Biosciences AG

EQS-Adhoc: Kuros receives milestone payment from Checkmate

EQS Group-Ad-hoc: Kuros Biosciences AG / Key word(s): Miscellaneous
Kuros receives milestone payment from Checkmate

20.04.2016 / 07:00
Release of an ad hoc announcement pursuant to Art. 53 KR.
The issuer is solely responsible for the content of this announcement.

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Kuros receives milestone payment from Checkmate

Schlieren (Zurich), Switzerland, April 20, 2016 - Kuros Biosciences Ltd.
("Kuros" or the "Company"), has been informed by Checkmate Pharmaceuticals Inc.,
Cambridge, MA, USA ("Checkmate") that the first melanoma patient has been dosed
in a Phase 1b clinical trial with CMP-001, formerly known as CYT003. The trial
is designed as a multi-center, open-label study of CMP-001 in combination with
pembrolizumab for patients with advanced melanoma who have either progressed on
anti-PD1 therapy or have failed to respond to at least 12 weeks of therapy.

In August 2015, Checkmate acquired exclusive access to Cytos' clinically
validated product candidate CYT003 as well as its VLP platform and to technology
related to oligonucleotide synthesis for multiple products in the field of
oncology. As a result of the first dosing of a patient with this licensed
product candidate, Kuros will receive a milestone payment of USD 1 million from
Checkmate. In this collaboration Kuros may receive up to USD 90 million in
development milestones and may receive up to double-digit royalties on net sales
from successfully developed products.

Didier Cowling, Chief Executive Officer of Kuros, commented: "We are very
pleased that Checkmate has already advanced CMP-001 into a phase 1b clinical
trial. Reaching this milestone only 10 months after signing the license
agreement is a significant achievement. We wish to congratulate Checkmate on its
progress and are eager to see how intra-tumoral therapy with CPM-001 will
perform in combination with pembrolizumab in patients with advanced melanoma. "

For further information, please contact:

Kuros Biosciences Ltd
Harry Welten, MBA
Chief Financial Officer
Tel: +41 44 733 46 46 
harry.welten@kuros.ch


About Kuros Biosciences Ltd

Kuros Biosciences Ltd is focused on the development of innovative products for
tissue repair and regeneration and is located in Schlieren (Zurich),
Switzerland. The Company is listed according to the Main Standard on the SIX
Swiss Exchange Ltd under the symbol KURN. Information regarding Kuros is
available atwww.kuros.ch.

About Checkmate
Checkmate Pharmaceuticals is a clinical stage company pursuing a novel approach
to specifically activating the innate arm of the immune system to recognize and
ultimately destroy tumor cells. The company is leveraging its expertise and the
vast body of knowledge in the field of CpG oligonucleotides and is validating an
approach that will combine the ability of CpG DNA to activate an anti-tumor T
cell response with checkpoint inhibition to overcome a tumor's ability to mute
the immune response. Checkmate's founder and CEO, Dr. Art Krieg, discovered
immune stimulatory CpG DNA in 1994. Since then, CpG containing DNA therapies
have been administered to thousands of patients showing potent immune activation
and an acceptable safety profile. Checkmate is a privately held company
headquartered in Cambridge, MA., whose Series A investors include Sofinnova
Ventures and venBio. Information regarding Checkmate is available
atwww.checkmatepharma.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.

 

End of ad hoc announcement

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Additional features:

Document:http://n.eqs.com/c/fncls.ssp?u=FGSDCSXWOH
Document title: Kuros_Milestone payment_20.4.2016

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20.04.2016 News transmitted by EQS Schweiz AG. www.eqs.com - news archive:
http://switzerland.eqs.com/de/News

The issuer is responsible for the contents of the release.
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Language: English

Company:  Kuros Biosciences AG

          Wagistrasse 25

          8952  Schlieren

          Switzerland

Phone:    +41 44 733 4747

Fax:      +41 44 733 4740

E-mail:    info@kuros.ch

Internet: www.kuros.ch

ISIN:     CH0011025217

Valor:    -

Listed:   Foreign Exchange(s) SIX


End of News EQS Group News Service
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