Kerecis develops patented medical products made from sustainably sourced fish skin and fatty acids for cellular therapy, tissue regeneration and protection. Its gently processed fish-skin material retains a three-dimensional structure that recruits the body’s own cells and is ultimately converted into living tissue; clinical studies cited by the company report faster wound healing than competing products. Kerecis sells across three market segments: private offices and wound centers (MariGen®), burn centers (GraftGuide®) and hospital operating rooms (SurgiBind®/SurgiClose®). The company is the only approved manufacturer of medical devices containing intact fish skin globally and is among the fastest-growing players in the U.S. biologics-skin and dermal-substitute market. Financially, Kerecis reported $35 million in revenue in calendar year 2021 and said revenue this year is expected to be more than twice that, with year-over-year revenues doubling annually. The company emphasizes sustainability: its fish skin derives from wild Icelandic stocks and is processed in Ísafjörður near the Arctic Circle using 100% renewable energy, and it plans to use the new financing to accelerate development of next-generation products. Kerecis develops medical products derived from fish skin and fatty acids that preserve natural structure and elements, including omega-3s, to protect and regenerate human tissue. The company says its products require only mild processing because Atlantic cod pose no viral-disease transfer risk to humans. Kerecis offers fatty-acid-rich intact fish skin as well as spray-on topical and oral formulations intended for wound healing, infection control, and tissue regeneration. Its products are being used for diabetic and trauma wounds, burns, and other medical needs. The company’s stated mission is to extend human life by supporting the body’s ability to regenerate tissues, and it aims to expand its presence in the U.S. market. Recent financing is intended to accelerate development and marketing in the United States. Kerecis develops patented fish-skin products to heal human wounds and tissue damage. Its fish skin retains similarity to human skin and contains Omega3 fatty acids, which enhance wound healing. The company’s products are used to regenerate tissue in trauma and chronic wounds such as burns and diabetic wounds. Kerecis is also developing products for oral surgery, plastic surgery and neurological applications. Led by founder and CEO G. Fertram Sigurjonsson, the company plans to use new proceeds to expand sales and marketing, with a focus on the U.S. and Switzerland. The company completed a Series C to support these commercial efforts. Kerecis develops regenerative technologies based on intact fish skin that is rich in naturally occurring Omega3 polyunsaturated fatty acids to treat wounds and tissue damage. Its lead product, Kerecis Omega3 Wound, has received FDA and European regulatory approval and the company said U.S. sales revenue for that product more than quadrupled compared to 2016. A second product, Kerecis Omega3 Burn, is designed for transplantation into tissue damaged by thermal injuries. The fish skin is sourced from cod in North Iceland, is minimally processed to preserve structure and Omega3s, and the company holds patents in the United States and several other countries. Products are available in multiple markets worldwide and are manufactured in Kerecis facilities in Iceland that use geothermally generated electricity. The company was named Iceland’s fastest growing company for 2016 and planned to brief investors at the JP Morgan Healthcare Conference. Kerecis Limited is an Iceland-based tissue-regeneration company developing technologies to repair damaged tissue in vivo and to grow tissues and organs in vitro for implantation. Its most advanced plans target products to treat chronic wounds in diabetes patients, hernias and dura mater defects after neurosurgery. The company’s flagship technology, MariGen Omega3, recruits the body’s own cells and is ultimately converted into functional, living tissue. MariGen Omega3 is already available for sale in Iceland, the UK and several Middle Eastern markets, and Kerecis intends to expand distribution to other markets. Kerecis secured US$2m in a Series A3 financing to further develop MariGen Omega3. The company is led by CEO, President and Chairman Gudmundur Fertram Sigurjonsson.

Total raised

$143M

Funding rounds

12

Latest round

Series D

Latest activity

Aug 2022