Dubai, United Arab Emirates, January 31, 2013 — At the Arab Health Conference today, Kerecis announced the signing of a distribution agreement with Medline Industries, Inc. based in Mundelein, Illinois. Kerecis is a medical device company focused on the treatment of tissue damage with Omega3-based regenerative technologies. The contract with Medline represents the first commercialization of the company‘s technology.
Medline is a leading manufacturer and distributor of healthcare products and programs with established sales channels globally. As the largest privately held manufacturer and distributor of healthcare products and services in the United States, Medline is the market leader in several major product categories, including exam gloves, textiles, durable medical equipment, skin care, adult incontinence products, patient plastic utensils and operating room kits.
MariGen Omega3 is a fish skin that has had all its cells and antigenic materials removed leaving behind extra-cellular matrix that looks like fish skin, and contains Omega3 and other fish skin components. The product is manufactured according to a patent-pending method. MariGen Omega3 is applied to areas of tissue damage where it recruits the body's own cells. Ultimately the product is converted into functional, living tissue.
Under terms of the agreement, Medline will sell products, that utilize the MariGen Omega3 regenerative technology for the management of chronic wounds, including diabetic, vascular and other hard-to-heal wounds. Initially Medline will sell products based on the MariGen Omega3 technology in the United Kingdom and several Middle Eastern countries.
Virtually any disease that results from damaged or failing tissues may be potentially cured with regenerative technologies. Kerecis is developing regenerative technologies for repairing damaged tissue in vivo, and by growing the tissues and organs in vitro and implanting them into the patient. The company’s most advanced development plans include products to treat chronic wounds and hernias as well as treat defects in dura mater after neurosurgery.
Gudmundur Fertram Sigurjonsson, Executive Chairman, Kerecis Limited:
"Kerecis is a development-stage medical device / biotechnology company. The agreement with Medline is a significant milestone for us as it represents the first stage in our transition to a commercial-stage business. We will continue to run multiple development projects such as our hernia and dura projects."