28.06.2016 – 07:19

Kuros Biosciences AG

EQS-Adhoc: Kuros Biosciences AG: valuationLAB Initiates Research Coverage on Kuros

EQS Group-Ad-hoc: Kuros Biosciences AG / Key word(s): Research Update
Kuros Biosciences AG: valuationLAB Initiates Research Coverage on Kuros

28.06.2016 / 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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valuationLAB Initiates Research Coverage on Kuros

Schlieren (Zurich), Switzerland, June 28, 2016 - Kuros Biosciences Ltd ("Kuros")
today announced that independent life science research boutique valuationLAB has
issued its first report on Kuros. The research analyst estimates a current
risk-adjusted net present value (NPV) for the Company's late-stage development
pipeline of CHF 55 per share. The valuation is based on the three most advanced
programs in surgical sealants and orthobiologics. valuationLAB sees significant
upside should Kuros successfully execute on its strategy to advance its other
pipeline opportunities.

valuationLAB's Senior Healthcare Analyst Bob Pooler commented: "Kuros lead
projects target sizeable market opportunities in surgical sealants and
orthobiologics. We expect combined peak sales for the three most advanced
candidates to pass CHF 1 billion. These projects have met the primary endpoint
in all the clinical trials in which they have been tested in over 400 patients."

The risk-adjusted NPV of CHF 55 per share is calculated based on an in-depth
analysis of Kuros' most advanced product candidates including 1) KUR-023, a
dural membrane sealant, which is expected to reach the EU and US markets in 2017
and 2020, respectively. Peak sales as an adjunct to suturing in brain and spinal
surgery are estimated at CHF 100+ million; 2) KUR-111, a bone graft substitute,
which is expected to be launched in 2022 and to reach peak sales of CHF 600
million, could become the new gold standard bone graft; and 3) KUR-113 for bone
fracture healing, for which market launch is expected in 2022 with potential
peak sales of CHF 300+ million.

In its current risk-adjusted NPV, valuationLAB does not include earlier stage
pipeline projects or the legacy Cytos projects partnered to Checkmate
Pharmaceuticals, Arbutus Biopharma and Pfizer, which provide significant upside
potential, the latter without any further funding requirements.

Kuros' current cash position is expected to be sufficient 1) to obtain the CE
mark and subsequent launch of KUR-023 in Europe; 2) to conduct a second clinical
trial for KUR-023 in support of a premarket approval (PMA) application to obtain
US approval; and 3) to prepare pivotal phase III development for both KUR-111
and KUR-113. According to valuationLAB, additional funds will be needed to bring
KUR-111 and KUR-113 successfully to market. To finance the significant R&D costs
until 2023, it is expected that Kuros will out license KUR-023 to a
commercialization partner upon EU approval and both orthobiologics on successful
pivotal trials in return for significant upfront, development and sales
milestone payments and royalties on sales.

Upcoming milestones and key catalysts in valuationLAB's report include 1) the
filing of CE marking for KUR-023 around year-end 2016 followed by approval and
launch in the EU in 2017; 2) the start of a clinical trial in 2017 to support
the PMA of KUR-023 for application in the US; and 3) the signing of distribution
or commercialization agreements in the EU.

Harry Welten, Chief Financial Officer of Kuros, commented: "We believe this
analyst report provides useful guidance to the investment community on the Kuros
investment case as we execute on our strategy to advance the lead candidates and
unlock the value of the pipeline for our shareholders. We endeavor to become a
future leader in tissue repair and regeneration."

The full analyst research report is available from www.valuationlab.com and
Kuros' websitewww.kuros.chunder Investors/Reports & presentations.

About valuationLAB

valuationLAB AG is an independent life science research boutique with no
securities or banking services. The company does not hold any positions in the
securities mentioned in its reports. Its financial analyses are based on the
Directives on the Independence of Financial Research issued by the Swiss Bankers
Association in January 2008. valuationLAB's aim is to translate complicated
scientific/clinical data into easy-to-understand financial forecasts and
valuations for investors. Valuations are based on tailor-made, detailed,
bottom-up research from publicly available sources. The research report has been
commissioned by Kuros Biosciences AG and prepared and issued by valuationLAB AG.
The analyst views and expectations were made independently and as such do not
necessarily reflect those of Kuros.

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 International Financial
Reporting Standard on the SIX Swiss Exchange Ltd under the symbol KURN.
Information regarding Kuros is available atwww.kuros.ch.

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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Document:http://n.eqs.com/c/fncls.ssp?u=SSGBELWYWC
Document title: Kuros_valuationLAB_28062016

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28.06.2016 News transmitted by Tensid EQS AG. www.eqs.com

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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