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Press Release, 14 December 2017
Kuros Biosciences Announces Management Succession
Kuros announced today the appointment of Michael Grau as Chief Financial Officer (CFO) effective February 1, 2018. Michael Grau succeeds Harry Welten, who will step down as CFO on February 1, 2018 to focus on his board roles and part-time CFO functions in privately held companies. Harry Welten will remain on the Board of Directors of Kuros.
Schlieren (Zurich), Switzerland, December 14, 2017
Kuros’ Chief Executive Officer Dr. Joost de Bruijn commented: “I am delighted to welcome Michael Grau to the executive team. Michael has extensive experience in corporate finance and auditing in private and public companies. With his strong operational background, we believe Michael brings highly relevant experience and financial leadership to the Company that will help us as we capitalize on new opportunities to becoming a leading commercial-stage orthobiologics company.”
Joost de Bruijn continued: “I am sincerely grateful to Harry for leading the company through capital raises, restructurings, mergers and acquisitions in the past seven years. Harry’s continued involvement will ensure a smooth transition to Michael.”
Kuros’ Chairman Christian Itin said: “We are grateful for Harry’s valuable contributions and services to the Company. As CFO, Harry restructured CHF 70 million in private and public debt and raised more than CHF 80 million in equity, ensuring that the company has a solid capital base and structure for its next steps of growth and start of commercialization. We wish Harry all the best for his future endeavors.”
Christian Itin continued: “With Michael’s extensive experience as CFO of several small- and medium-sized companies, accounting and fundraising background, we have found a highly capable successor to Harry to help lead the company during its next growth stage. Michael has more than 15 years of experience in the medtech and pharma field and is therefore extremely well suited to take up this position.”
Biographical background on Michael Grau
Michael Grau has an impressive track record of 25 years` experience in corporate finance, controlling, accounting and general management in diverse industries and, since 2001, with a focus on medtech, biotech and pharma. He was responsible for multiple capital market transactions, financing rounds and several merger and acquisition agreements for public and private companies. Most recently, Mr. Grau served as CFO of Proteros Biostructures, a biotech company focusing on enabling lead discovery, Correvio, a Geneva-based hospital specialty pharma company, and Endosense, another Geneva-based private medtech company. He started his career working for KPMG Pat Marwick. Mr. Grau holds a BA in European Finance and Accounting from Bremen University, Germany, and Leeds University, U.K., and an executive MBA from Henley Business School at the University of Reading, U.K. Mr. Grau is citizen of Germany.
About Kuros Biosciences AG
Kuros Biosciences is focused on the development of innovative products for tissue repair and regeneration and is located in Schlieren (Zurich), Switzerland and Bilthoven, The Netherlands. The Company is listed according to the International Financial 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.
For further information, please contact:
Harry Welten, MBA
Chief Financial Officer
Phone +41 79 750 15 64
Joost de Bruijn
Chief Executive Officer
Phone +31 621 21 7603