$100 Million Financing From Lego Owner Kirkbi And Others Values Medical-Fish-Skin Company Kerecis At $620 Million

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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.