Kerecis

Kerecis is a biotechnology company based in Iceland.[1][2] It is pioneering the use of fish skin in the globally expanding regenerative medicine market.[3][4][5] Fertram Sigurjonsson is the current chief executive officer (CEO) of Kerecis.[6][7]

Kerecis
TypePrivate
Founded2010 (2010)
FounderFertram Sigurjonsson
Headquarters
Ísafjörður
,
Iceland
Area served
Iceland, Switzerland, and United States
Key people
Fertram Sigurjonsson (CEO)
Products
  • Omega3 Wound
  • Omega3 SurgiBind
SubsidiariesPhytoceuticals AG
Websitekerecis.com

Developed and manufactured in Isafjordur, Iceland, Kerecis' medical products are available in Europe, the United States, and other countries.[8] The Atlantic cod used in Kerecis Omega3 fish skin products come from sustainable fishing stocks in Icelandic waters close to the Arctic Circle.[9]

Kerecis' manufacturing facilities are located in the Westfjords region of Iceland and are powered entirely by renewable energy.[10][4]

History

Fertram Sigurjonsson noticed in 2009 that the qualities of the fish's skin, which are similar to those of human skin, sped up the healing of human wounds, especially those that were severe or had been there for a long time. Based on this invention, he founded Kerecis.[2][11] The company started commercial operations in 2013 and established its US headquarters in 2016.[12][13]

In 2019, the company acquired the Swiss life science company Phytoceuticals AG, which has since changed its name to Kerecis AG.[14][13] This acquisition helped Kerecis acquire the Omega3 viruxal technology.[15] In the same year, Emerson Collective acquired a stake in Kerecis.[16][17]

In 2020, Kerecis received an award given by Vaxtarsprotinn, a joint project of the Confederation of Icelandic Industries, the Confederation of Start-up Companies, Icelandic Research Center, and Reykjavík University.[12]

In 2021, as per Morgunbladid report, the company was valued at more than 100 million euros.[18] Kereceis also works on medical research with the US Armed Forces and provides the grafts to branches of the military.[2][19]

In August 2022, Kerecis raised $100 million in funding from investors, including Kirkbi, the investment arm of the Christiansen family that founded Lego Group, valuing the company at $620 million.[20]

Operations and structure

Kerecis' operational headquarters is located in Arlington, Virginia, near Washington, DC.[21][22] Research and development is based in Reykjavik, Iceland, with European and Asian sales run from the company's office in Zurich, Switzerland.[22]

The Kerecis products are manufactured in its own manufacturing facility in Isafjordur, Iceland.[9]

Technology

Kerecis Omega3 fish skin is a medical device based on the processed acellular dermal matrix (ADM) of North Atlantic cod fish skin (Gadus morhua). The fish skin graft provides skin-unique properties of elasticity, tensile strength, and compressibility combined with good suture retention.[23]

Kerecis sources a local by-product of the sustainably managed Icelandic fisheries for fresh raw material. The fishing vessels are active in the Arctic waters between Iceland and Greenland.[24] The skins are descaled, decellularized, and lyophilized after harvesting before final packaging and sterilization.[24]

Kerecis Omega-3 fish skin was cleared for use by the FDA in 2013 for the treatment of chronic and acute wounds.[24][25][26] In Europe, Kerecis Omega-3 Wound was first CE marked in 2012.[27]

In 2021, Kerecis Omega3 SurgiBind was cleared for use in plastic and reconstructive surgery by the FDA.[4][28]

References
  1. Hannan, Daniel (October 25, 2020). "Taking back control of fishing could be an enormous growth opportunity for Britain". The Daily Telegraph.
  2. "Dans le poisson islandais, rien ne se perd, tout se transforme". Le Monde. October 16, 2021.
  3. "Evening Briefing Europe: Google-EU, BNP, BoE, Denmark". Bloomberg.
  4. "FDA Approves Kerecis' Implantable Fish-Skin Product". Iceland Monitor.
  5. "Tekjur Kerecis þrefaldist og verði þrír milljarðar". Fréttablaðið.
  6. "Kerecis allt að 30 milljarða króna virði". Morgunblaðið.
  7. "Kerecis bíður færis á yfirtökum". Fréttablaðið.
  8. "Ólafur Ragnar kominn í stjórn Kerecis". Fréttablaðið.
  9. "Segir Ísafjörð henta starfsemi Kerecis einstaklega vel". Morgunblaðið.
  10. "News and views - PMC".
  11. "Biotech Company Kerecis to Be Listed Abroad". Iceland Monitor.
  12. "Kerecis valið Vaxtarsproti ársins". Morgunblaðið.
  13. Lake, Sydney (January 25, 2021). "Arlington biotech company names CFO".
  14. "Kaupa sáraumbúðafyrirtæki í Sviss". Morgunblaðið.
  15. "Nef- og munnúði frá Viruxal". Morgunblaðið.
  16. "Ólafur Ragnar í stjórn Kerecis". Fréttablaðið.
  17. "Emerson Collective eignast hlut i Kerecis". Fréttablaðið.
  18. "Dans le poisson islandais, rien ne se perd, tout se transforme". October 16, 2021 – via Le Monde.
  19. Torrance, Jack (June 24, 2018). "Iceland: From crisis to hotspot, 10 years on from the financial crisis". The Telegraph.
  20. "Lego Billionaires Invest in Fish-Skin Biotech From Iceland". Bloomberg.
  21. "Kerecis nú allt að 30 milljarða króna virði". Morgunblaðið.
  22. "Fréttablaðið". Fréttablaðið.
  23. "Kerecis | Fish-Skin Technology |". May 20, 2021.
  24. "Using Fish Skin to Heal Wounds". Iceland Monitor.
  25. "Fish Skin for Human Wounds: Iceland's Pioneering Treatment". Bloomberg Businessweek.
  26. "Alaska's seafood industry by the numbers, plus fish skin's medical applications and antibiotics in Chilean salmon". Anchorage Daily News.
  27. "Kerecis Ltd. :: Medtech Insight".
  28. "Omega3 SurgiBind" (PDF).
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