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Kerecis was established in 2009 as a research project in Isafjordur, Iceland. Isafjordur is a town in North West Iceland, 30 miles south of the Arctic Circle and 250 miles north of the capital, Reykjavik.
The Kerecis technology was invented by the company’s founder and CEO, Fertram Sigurjonsson.
The company started commercial operations in 2013. The company has completed a seed round and A, B and C rounds. Total capital and non-dilutive funding received to date is USD 24 million.
In 2019, the company acquired the Swiss life-science company Phytoceuticals AG, which has since changed its name to Kerecis AG.
Operations & Structure
The company is headquartered in Isafjordur and manufactures its products there. The company operates a research center in Reykjavik, and its sales & marketing office is in Arlington, Virginia, near Washington, D.C.
Kerecis is privately held by Icelandic, American, British and French shareholders. About one third of the shareholders are the original founders of the business, and private investors and family funds hold the remaining shares. The five largest shareholders are:
- Omega ehf (affiliated with Novator Partners LLP)
- CuraeLab SARL
- BBL 34 ehf
- FnF ehf
- Emerson Collective LLC
Every year millions of patients develop complications and undergo operations that result in difficult to heal wounds. Patient populations include sufferers of diabetes, melanoma, surgical dehiscence and many more. The Kerecis initial products are on-market and approved by the FDA as well as by European regulatory authorities. The products are sold through a mixture of direct sales force (U.S. focused), agents and distributors.
Kerecis participates in several U.S. Department of Defense-funded projects. The company is committed to developing better remedies for injured American servicemen and women, who have suffered an increase in the number of serious, life-threatening burn wounds in the shift away from traditional combat settings.
The Kerecis technology is patented in the United States and more than 40 other countries.
Kerecis is actively seeking future licensing and distribution partners, while focusing on product development, intellectual property protection and clinical tests. Ideal potential technology licensees will have the ability to launch these proprietary devices in markets around the world.
Kerecis provides medical assistance to physicians and surgeons performing procedures and medical consultancy.