Welcome!

News Feed Item

Fish-Skin Medical Company Completes Funding Round

Kerecis to Use US$2 Million Investment to Further Develop Its Tissue-Regeneration Technology

REYKJAVIK, ICELAND and ISAFJORDUR, ICELAND -- (Marketwired) -- 02/21/14 -- Kerecis Limited, the emerging tissue-regeneration company, today announced that it has secured US$2 million in series A3 funding. All existing investors participated in the investment round with the addition of two new investors. The money will be spent to further develop MariGen Omega3, the company's tissue-regeneration technology.

MariGen Omega3 is intact decellularized fish skin that has had all its cells and antigenic materials removed. Fish skin is largely made from the same material as human skin, with the addition of Omega3 polyunsaturated fatty acids. The patent-pending MariGen Omega3 technology is applied to areas of tissue damage where it recruits the body's own cells and ultimately is converted into functional, living tissue.

Statistics show a large need for improved tissue-repair technologies. About 6 million Americans suffer from tissue damage resulting from diabetes and other diseases, with more than 1 million cases added each year. More than 20 million Americans have diabetes; and over 100,000 of them undergo amputation each year because of wounds in the United States alone.

Virtually any disease that results from damaged or failing tissues may be potentially cured with regenerative technologies. Kerecis is developing 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 in diabetes patients, hernias, and defects in dura mater after neurosurgery.

Investors participating in the series A3 round include; NSA Ventures, Iceland government's venture capital fund; Omega3 ehf, an investment fund affiliated with London-based Novator; Capital ehf; 1924 ehf; Skógur ehf; Klofningur ehf; and Hradfrystihusid-Gunnvor hf.

The first MariGen Omega3-based product, MariGen Omega3 Wound is available for sale in Iceland, the UK and several Middle Eastern markets. The company will soon be expanding distribution to other markets. The company received a U.S. patent for the technology last December; patents are pending in several other countries.

Statement:

Gudmundur Fertram Sigurjonsson, CEO, President and Chairman, Kerecis Limited:
"This investment round demonstrates the continued confidence of our investors, and reflects the great progress we have made in a relatively short time. We will use the funding to advance our development programs in the field of hernia, dura and breast-reconstruction regenerative technologies, as well as to support business development activities for our chronic-wound technology."

About Kerecis

Kerecis (http://www.kerecis.com) is a development and manufacturing business producing a novel, patented, tissue-regeneration material derived from fish skin to accelerate the healing of wounds and tissue reconstruction. The Kerecis material addresses the large unmet need of the double-digit-growth biologics segment of the chronic-wounds, hernia-repair and dermatology markets.

Development programs both involve the development of regenerative technologies for repairing damaged tissue in vivo, as well as growing the tissues and organs in vitro and implanting them into the patient at a later stage. The Kerecis material offers advantages over existing human- and porcine-derived products, including improved manufacturing economics and a lower risk of disease transfer. Since it is derived from fish, the material is both kosher and halal compatible, eliminating cultural and religious constraints on usage, with equivalent or better clinical performance. For more information, e-mail [email protected] or call 703-879-6535 (U.S.) or 354-8494960 (Iceland).

Add to Digg Bookmark with del.icio.us Add to Newsvine

For further information, contact:
G. Fertram Sigurjonsson
CEO, President and Chairman
Kerecis Limited
Phone (Iceland) +354-8494960
(U.S.) 703-879-6535
E-mail: Email Contact

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
As DevOps methodologies expand their reach across the enterprise, organizations face the daunting challenge of adapting related cloud strategies to ensure optimal alignment, from managing complexity to ensuring proper governance. How can culture, automation, legacy apps and even budget be reexamined to enable this ongoing shift within the modern software factory?
SYS-CON Events announced today that Elastifile will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 - Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Elastifile Cloud File System (ECFS) is software-defined data infrastructure designed for seamless and efficient management of dynamic workloads across heterogeneous environments. Elastifile provides the architecture needed to optimize your hybrid cloud environment, by facilitating efficient...
There is only one world-class Cloud event on earth, and that is Cloud Expo – which returns to Silicon Valley for the 21st Cloud Expo at the Santa Clara Convention Center, October 31 - November 2, 2017. Every Global 2000 enterprise in the world is now integrating cloud computing in some form into its IT development and operations. Midsize and small businesses are also migrating to the cloud in increasing numbers. Companies are each developing their unique mix of cloud technologies and service...
SYS-CON Events announced today that Golden Gate University will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Since 1901, non-profit Golden Gate University (GGU) has been helping adults achieve their professional goals by providing high quality, practice-based undergraduate and graduate educational programs in law, taxation, business and related professions. Many of its courses are taug...
@DevOpsSummit at Cloud Expo taking place Oct 31 - Nov 2, 2017, at the Santa Clara Convention Center, Santa Clara, CA, is co-located with the 21st International Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is ...
DevOps at Cloud Expo, taking place October 31 - November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 21st Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to w...
With Cloud Foundry you can easily deploy and use apps utilizing websocket technology, but not everybody realizes that scaling them out is not that trivial. In his session at 21st Cloud Expo, Roman Swoszowski, CTO and VP, Cloud Foundry Services, at Grape Up, will show you an example of how to deal with this issue. He will demonstrate a cloud-native Spring Boot app running in Cloud Foundry and communicating with clients over websocket protocol that can be easily scaled horizontally and coordinate...
SYS-CON Events announced today that DXWorldExpo has been named “Global Sponsor” of SYS-CON's 21st International Cloud Expo, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Digital Transformation is the key issue driving the global enterprise IT business. Digital Transformation is most prominent among Global 2000 enterprises and government institutions.
SYS-CON Events announced today that Grape Up will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct. 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Grape Up is a software company specializing in cloud native application development and professional services related to Cloud Foundry PaaS. With five expert teams that operate in various sectors of the market across the U.S. and Europe, Grape Up works with a variety of customers from emergi...
21st International Cloud Expo, taking place October 31 - November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy. Me...
The question before companies today is not whether to become intelligent, it’s a question of how and how fast. The key is to adopt and deploy an intelligent application strategy while simultaneously preparing to scale that intelligence. In her session at 21st Cloud Expo, Sangeeta Chakraborty, Chief Customer Officer at Ayasdi, will provide a tactical framework to become a truly intelligent enterprise, including how to identify the right applications for AI, how to build a Center of Excellence to...
From 2013, NTT Communications has been providing cPaaS service, SkyWay. Its customer’s expectations for leveraging WebRTC technology are not only typical real-time communication use cases such as Web conference, remote education, but also IoT use cases such as remote camera monitoring, smart-glass, and robotic. Because of this, NTT Communications has numerous IoT business use-cases that its customers are developing on top of PaaS. WebRTC will lead IoT businesses to be more innovative and address...
Most companies are adopting or evaluating container technology - Docker in particular - to speed up application deployment, drive down cost, ease management and make application delivery more flexible overall. As with most new architectures, this dream takes a lot of work to become a reality. Even when you do get your application componentized enough and packaged properly, there are still challenges for DevOps teams to making the shift to continuous delivery and achieving that reduction in cost ...
In his session at 20th Cloud Expo, Scott Davis, CTO of Embotics, discussed how automation can provide the dynamic management required to cost-effectively deliver microservices and container solutions at scale. He also discussed how flexible automation is the key to effectively bridging and seamlessly coordinating both IT and developer needs for component orchestration across disparate clouds – an increasingly important requirement at today’s multi-cloud enterprise.
DevOps at Cloud Expo, taking place October 31 - November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 21st Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to w...