Targeted & controlled bone healing
08 Nov 18
Kuros convenes Extraordinary General Meeting

NOT FOR PUBLICATION, DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES OF AMERICA, CANADA, JAPAN, AUSTRALIA OR MEMBER STATES OF THE EUROPEAN ECONOMIC AREA OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL

Kuros convenes Extraordinary General Meeting

Schlieren (Zurich), Switzerland, November 8, 2018 – Kuros Biosciences (SIX: KURN) (the Company) today announced that it will hold an Extraordinary General Meeting (EGM) of shareholders to seek approval to increase the Company’s ordinary share capital and to establish conditional capital. The EGM will be held at Kuros Biosciences AG, Wagistrasse 25, 8952 Schlieren, Switzerland on November 29, 2018 at 10.00am CET.

 

The share capital increase aims at raising approximately CHF 16 - 20 million to advance research, development and marketing of the Company’s key products. Specifically, the Company seeks approval from shareholders for an increase of the ordinary share capital of up to CHF 4.3 million for the issuance of up to an additional 4.3 million shares and to establish conditional capital of CHF 1.7 million for the issuance of up to 1.7 million shares.

 

The use of proceeds from a capital increase aims to enable the Company to advance the phase 2 clinical study of its proprietary fibrin-PTH (KUR-113) product in spinal fusion and to progress commercialization of MagnetOs bone graft substitute in the U.S. and selected geographies in Europe.

 

The phase 2 study of KUR-113 is scheduled to start enrolling patients in 2019 with an anticipated interim readout by the second half of 2020. The Company's management is convinced that KUR-113 targets an important medical need in spinal fusion patients and represents a significant commercial opportunity.

 

Several large existing shareholders as well as new investors have indicated their interest in participating in a potential equity financing. The final terms of the financing will depend on, inter alia, the Company’s stock price at the time of pricing and announcement of the capital increase and the interest amongst existing and new equity investors. In light of the planned capital increase, the Company will abstain from further draw-downs of its Standby Equity Distribution Agreement.

 

Mirabaud and Octavian are acting as advisors to the Company.

 

The EGM invitation can be downloaded via the following links:

 

http://www.kuros.ch/uploads/Corporate_Governance/Kuros%20EGM%20Invitation_181129.pdf

http://www.kuros.ch/uploads/Corporate_Governance/Kuros_EGM_Einladung_181129.pdf



Kuros Biosciences AG
Wagistrasse 25, 8952 Schlieren, Switzerland
Tel: +41 44 733 47 47   Fax: +41 44 733 47 40   Email: info@kurosbio.com

About Kuros

  1. Overview
  2. Executive Committee
  3. Board
  4. Careers

Products

  1. MagnetOs

Pipeline

  1. Pipeline
  2. Spinal fusion
    KUR-113
  3. Fracture repair
    KUR-111
    KUR-113
  4. Surgical Sealants
    Neuroseal (KUR-023)

Technologies

  1. Surface Science Technology
  2. Fibrin-Based
  3. Synthetic Cross-Linking Technology
  4. Immune Modulation

Partnerships

  1. Collaborations
  2. Business Development

Investors

  1. Share price
  2. Regulatory filings
  3. Reports & Presentations
  4. Analysts
  5. Calendar
  6. Corporate governance
  7. Stay informed

News

  1. Press releases
  2. Conferences & Events

Contact

  1. Location
Article
08 Nov 18
Kuros convenes Extraordinary General Meeting

NOT FOR PUBLICATION, DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES OF AMERICA, CANADA, JAPAN, AUSTRALIA OR MEMBER STATES OF THE EUROPEAN ECONOMIC AREA OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL

Kuros convenes Extraordinary General Meeting

Schlieren (Zurich), Switzerland, November 8, 2018 – Kuros Biosciences (SIX: KURN) (the Company) today announced that it will hold an Extraordinary General Meeting (EGM) of shareholders to seek approval to increase the Company’s ordinary share capital and to establish conditional capital. The EGM will be held at Kuros Biosciences AG, Wagistrasse 25, 8952 Schlieren, Switzerland on November 29, 2018 at 10.00am CET.

 

The share capital increase aims at raising approximately CHF 16 - 20 million to advance research, development and marketing of the Company’s key products. Specifically, the Company seeks approval from shareholders for an increase of the ordinary share capital of up to CHF 4.3 million for the issuance of up to an additional 4.3 million shares and to establish conditional capital of CHF 1.7 million for the issuance of up to 1.7 million shares.

 

The use of proceeds from a capital increase aims to enable the Company to advance the phase 2 clinical study of its proprietary fibrin-PTH (KUR-113) product in spinal fusion and to progress commercialization of MagnetOs bone graft substitute in the U.S. and selected geographies in Europe.

 

The phase 2 study of KUR-113 is scheduled to start enrolling patients in 2019 with an anticipated interim readout by the second half of 2020. The Company's management is convinced that KUR-113 targets an important medical need in spinal fusion patients and represents a significant commercial opportunity.

 

Several large existing shareholders as well as new investors have indicated their interest in participating in a potential equity financing. The final terms of the financing will depend on, inter alia, the Company’s stock price at the time of pricing and announcement of the capital increase and the interest amongst existing and new equity investors. In light of the planned capital increase, the Company will abstain from further draw-downs of its Standby Equity Distribution Agreement.

 

Mirabaud and Octavian are acting as advisors to the Company.

 

The EGM invitation can be downloaded via the following links:

 

http://www.kuros.ch/uploads/Corporate_Governance/Kuros%20EGM%20Invitation_181129.pdf

http://www.kuros.ch/uploads/Corporate_Governance/Kuros_EGM_Einladung_181129.pdf