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Kerecis originated as a research project in Isafjordur, Iceland in 2009. Isafjordur is a town in North West Iceland, 30 miles south of the Arctic Circle.
The Kerecis technology was invented by the company’s founder and CEO, Fertram Sigurjonsson.
The company started commercial operations in 2013. Kerecis has completed a seed round and A, B and C rounds. Total capital and non-dilutive funding received to date is US$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 Kerecis offices are in Arlington (Virginia, U.S.), Zurich (Switzerland) and Reykjavik (Iceland). Kerecis products are manufactured in its own manufacturing facility in Isafjordur (Iceland).
Kerecis’ main operations are in the U.S. where it operates a sales force of 50 people selling its flagship product Kerecis Omega3 Wound directly to hospitals and healthcare facilities in the U.S.
The company 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
The initial Kerecis products have been approved by the FDA as well as by European regulatory authorities. The Kerecis technology is patented in the United States and in more than 40 other countries.
The products are sold through a mixture of direct sales force (U.S. focused), agents and distributors.
Kerecis participates in several projects funded by the U.S. Department of Defense (DoD). The company is committed to developing better remedies for injured American servicemen and women who increasingly suffer serious, life-threatening burn wounds because of the shift from traditional combat.
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.