Fundz

Kerecis, The Medical-Fish-Skin Company, Completes $100 Million Financing From Lego Owner Kirkbi And Others

Aug 02, 2022

Amount Raised

$100 Million

Round Type

Funding Round

IcelandBiotechnologyHealth Care

Description

Kerecis® today announced that it completed its $100 million Series D financing that was led by KIRKBI, the family holding and investment company behind the LEGO Group. Kerecis is the company pioneering the use of sustainably sourced fish skin and fatty acids in cellular therapy and tissue regeneration and protection globally. The funding round was supported by several existing shareholders, including Silicon Valley’s Emerson Collective and the Icelandic pension funds BRU and LSV. The funding round also included conversion of existing convertible debt to equity and new and extended debt facilities.

Quick answer

Kerecis raised $100 Million in a Funding Round round, dated August 2, 2022. Kerecis is based in Iceland.

How much did Kerecis raise?
Kerecis raised $100 Million in a Funding Round round on August 2, 2022.
What does Kerecis do?
Kerecis develops products from fish skin and fatty acids for cellular therapy, tissue regeneration and protection.
Where is Kerecis based and how big is it?
Kerecis is based in Iceland. Fundz records about 630 employees.

Source: Fundz verified event record.

Who else raised in Biotechnology and Health Care around the same time

Companies in the same sectors as Kerecis that raised within 45 days of this round, from Fundz verified event records.

  • Wheeler Bio raised $23M on September 16, 2022.
  • Galvanize Therapeutics raised $100M (Series B) on September 15, 2022.
  • Tridek-One raised $17M (Funding Round) on September 15, 2022.
  • TRiCares raised $47M (Series C) on September 15, 2022.
  • Carver raised an undisclosed amount (Seed) on September 15, 2022.
  • Novome raised an undisclosed amount (Funding Round) on September 15, 2022.

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Company Information

Company

Kerecis

Location

Laugavegur 77

Iceland

About

Kerecis develops products from fish skin and fatty acids for cellular therapy, tissue regeneration and protection. When grafted onto damaged human tissue or implanted, the patented material recruits the body’s own cells and ultimately is converted into living tissue. Because no disease-transfer risk exists between cold-water fish and humans, the Kerecis fish skin is only gently processed and retains its similarity to human tissue. The gentle processing preserves the skin’s original three-dimensional structure, maintaining its inherent natural strength, complexity and molecules (such as fatty acids). Clinical studies have found that the Kerecis products heal wounds faster than competing products. Kerecis is the only approved manufacturer of medical devices containing intact fish skin globally. It is the fastest-growing and one of the top six in the U.S. biologics-skin and dermal-substitute market, according to SmartTRAK Business Intelligence. Kerecis’s expanding product portfolio includes MariGen®, which is sold to private offices and wound centers to treat diabetic and other chronic wounds; GraftGuide®, which is mostly sold to burn centers; and SurgiBind®/SurgiClose®, which are used for reconstructive surgery in operating rooms. Kerecis is committed to the United Nations Sustainable Development Goals. The fish skin used in Kerecis products derives from wild and sustainable fish stock caught in pristine Icelandic waters and processed with 100% renewable energy in the town of Isafjordur, close to the Arctic Circle. For more information, visit https://www.kerecis.com.

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