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    KURN   CH0325814116

KUROS BIOSCIENCES AG

(KURN)
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EQS-Adhoc: Kuros to receive USD4 million milestone payment from Checkmate Pharmaceuticals

05/17/2021 | 01:02am EDT
EQS Group-Ad-hoc: Kuros Biosciences AG / Key word(s): Miscellaneous 
Kuros to receive USD4 million milestone payment from Checkmate Pharmaceuticals 
17-May-2021 / 07:00 CET/CEST 
Release of an ad hoc announcement pursuant to Art. 53 KR 
The issuer is solely responsible for the content of this announcement. 
=---------------------------------------------------------------------------------------------------------------------- 
*    Milestone triggered by Checkmate's initiation of potential registration trial of vidutolimod (CMP-001) in 
     patients with anti-PD-1 refractory advanced melanoma 
*    Kuros stands to receive up to USD49 million additional milestones plus royalties on sales 
Schlieren (Zurich), Switzerland, May 17, 2021 - Kuros Biosciences ('Kuros'), a leader in next generation bone graft 
technologies, today announced it will receive a milestone payment of USD4 million from Checkmate Pharmaceuticals, Inc. 
related to dosing of the first patient in a Phase 2 trial of vidutolimod (CMP-001) in combination with nivolumab for 
the treatment of patients with anti-PD-1 refractory advanced melanoma, under a license agreement between the companies. 
Checkmate recently initiated a Phase 2 trial evaluating vidutolimod in combination with nivolumab in patients with 
first-line metastatic or unresectable melanoma. Together, the data from these trials are intended to support a 
biologics license application seeking accelerated ap-proval in the U.S. for the treatment of patients with anti-PD-1 
refractory advanced melanoma. 
Checkmate is investigating vidutolimod, a Toll-like receptor 9 agonist, across multiple tumor types in combination with 
checkpoint inhibitor immunotherapies. Vidutolimod was licensed from Kuros Biosciences in 2015. Following receipt of 
this USD4 million milestone Kuros will have received USD8.25 million from Checkmate under the license agreement and is 
eligible to receive up to a fur-ther USD49 million in filing and approval milestones. In addition, Kuros is due to 
receive high-single-digit to double-digit royalties on net sales of vidutolimod. 
Joost de Bruijn, Chief Executive Officer of Kuros, commented: 'We are very pleased that our partner Checkmate has 
rapidly advanced vidutolimod into a pivotal study intended for marketing approval. We congratulate Checkmate on this 
strong progress and look forward to vidutolimod achieving approval for the treatment of melanoma and other cancers in 
multiple markets.' 
For further information on vidutolimod development please refer to checkmatepharma.com. 
For further information, please contact: 
Kuros Biosciences AG       LifeSci Advisors 
Michael Grau               Mary-Ann Chang 
Chief Financial Officer    Investors 
Tel +41 44 733 47 47       +44 7483 284 853 
michael.grau@kurosbio.com  mchang@lifesciadvisors.com 

About Kuros Biosciences AG Kuros Biosciences is a leader in next generation synthetic bone graft technologies for targeted and controlled bone healing. Kuros's bone graft substitute, MagnetOs, is commercialized in the U.S. and UK for use in posterolateral spinal fusions. Kuros's lead product in development, Fibrin PTH, a drug-biologic combination for spinal interbody fusion, has entered a phase 2 clinical trial in the U.S. Kuros is located in Schlieren (Zurich), Switzerland, Bilthoven, the Netherlands and Burlington (MA), U.S. The Company is listed according to the International Reporting Standard on the SIX Swiss Exchange under the symbol KURN. Visit www.kurosbio.com for additional information on Kuros, its science and product pipeline. 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 -----------------------------------------------------------------------------------------------------------------------

Language:     English 
Company:      Kuros Biosciences AG 
              Wagistrasse 25 
              8952 Schlieren 
              Switzerland 
Phone:        +41 44 733 4747 
Fax:          +41 44 733 4740 
E-mail:       info@kurosbio.com 
Internet:     www.kurosbio.com 
ISIN:         CH0325814116 
Valor:        32581411 
Listed:       SIX Swiss Exchange 
EQS News ID:  1196952 
 
End of Announcement EQS Group News Service 
=------------ 

1196952 17-May-2021 CET/CEST

 
Image link: 
https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=show_t_gif&application_id=1196952&application_name=news 
 

(END) Dow Jones Newswires

May 17, 2021 01:01 ET (05:01 GMT)

Stocks mentioned in the article
ChangeLast1st jan.
ALTICE USA, INC. 1.03% 34.31 Delayed Quote.-10.32%
CHECKMATE PHARMACEUTICALS, INC. -2.17% 6.3 Delayed Quote.-55.86%
DJ INDUSTRIAL 0.95% 34196.82 Delayed Quote.10.68%
KUROS BIOSCIENCES AG 0.00% 2.4 Delayed Quote.18.81%
All news about KUROS BIOSCIENCES AG
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More news
Financials
Sales 2020 4,04 M 4,40 M 4,40 M
Net income 2020 -11,5 M -12,5 M -12,5 M
Net cash 2020 26,0 M 28,3 M 28,3 M
P/E ratio 2020 -4,26x
Yield 2020 -
Capitalization 78,7 M 85,7 M 85,7 M
EV / Sales 2019 14,3x
EV / Sales 2020 9,97x
Nbr of Employees 46
Free-Float 74,3%
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Kuros Biosciences AG Technical Analysis Chart | KURN | CH0325814116 | MarketScreener
Technical analysis trends KUROS BIOSCIENCES AG
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Income Statement Evolution
Managers and Directors
NameTitle
Joost D. de Bruijn Chief Executive Officer & Director
Michael Grau Chief Financial Officer
Clemens A. van Blitterswijk Chairman
Pascal Longlade Chief Medical Officer
Jason M. Hannon Independent Non-Executive Director
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