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Iceland’s Kerecis seals $2m investment for fish skin tissue regeneration technology

24 Feb 2014

Kerecis, an Icelandic medical company developing tissue-regeneration technology using fish skin, has secured $2m in Series A3 funding.

All existing investors participated in the investment round with the addition of two new investors, with the money to be spent to further develop MariGen Omega3, the company’s tissue-regeneration technology.

Investors include NSA Ventures, Iceland government’s venture capital fund; Omega3, an investment fund affiliated with London-based Novator Capital; 1924; Skógur ehf; Klofningur ; and Hradfrystihusid-Gunnvor.

MariGen Omega3 is intact decellularised fish skin that has had all its cells and antigenic materials removed. The technology is applied to areas of tissue damage where it recruits the body’s own cells and ultimately is converted into functional, living tissue. The company’s most advanced development plans include products to treat chronic wounds in diabetes patients, hernias, and defects in dura mater after neurosurgery.

The first 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, it said. The company received US patent for the technology last December, with patents are pending in several other countries.

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