# Kerecis

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/kerecis

- Industry: Medical Devices & Equipment
- Headquarters: Iceland
- Website: www.kerecis.com
- Total disclosed funding: $18M
- Latest round: Series C (Apr 1, 2019)
- Investors on record: 5

## About

Kerecis Limited, based in Iceland, specializes in the development of innovative medical products for wound care, utilizing intact fish skin for tissue regeneration, aimed at improving patient recovery outcomes.Founded in 2011 in Iceland, Kerecis Limited focuses on medical solutions centered around fish skin technology. The company was co-founded by Baldur Baldursson and Gudmundur Sigurjonsson. Kerecis has successfully completed 13 deals, with its most recent notable transaction being a TRADE SALE of USD 1.2 billion on July 7, 2023, to Coloplast A/S, enhancing their advanced wound care market position. The total amount raised by the company is USD 1.2 billion.Kerecis specializes in developing and commercializing wound care products that utilize intact fish skin derived from wild Atlantic cod for tissue regeneration. Their core offerings include MariGen, SurgiClose, SurgiBind, and various wound care solutions tailored for both human and veterinary applications. These products aim to facilitate the healing of acute and chronic wounds, such as diabetic, venous, trauma, and surgical injuries, leveraging advanced fish skin technology to provide biocompatible and sustainable grafts that promote healing while minimizing the risk of infection. Kerecis products are marketed to hospitals, outpatient surgical centers, and veterinary clinics across the United States, European Union, and select international markets.In 2022, Kerecis reported a revenue of USD 74.32 mn and an EBITDA of USD 2.41 mn, generated through direct sales of its medical products to healthcare providers and institutions, as well as partnerships with distributors.As part of the acquisition by Coloplast A/S, completed in August 2023, Kerecis is expected to enhance its market presence in the biologics segment, particularly in the United States. Future growth plans may include launching new products and expanding into new geographic markets, although specific details regarding upcoming product launches and targeted regions have not been disclosed.

## Funding rounds

- Series C, Apr 1, 2019, $16M — Novator, Alvogen, Emerson Collective, CuraeLab
- Series A, Feb 21, 2014, $2M — New Business Venture Fund
- Seed, Dec 1, 2009 — New Business Venture Fund

## Investors

- New Business Venture Fund (https://capitalatlas.ai/funds/new-business-venture-fund) — Seed, Series A
- Novator (https://capitalatlas.ai/funds/novator) — Series C
- Alvogen — Series C
- Emerson Collective — Series C
- CuraeLab — Series C