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Joint Arlington-Icelandic regenerative-medicine biologics company Kerecis has reeled in a new batch of funding.
The company, which has its operational headquarters in Courthouse, is focused on a technology that might sound to some like Spider-Man villain origin in the making.
Kerecis uses “fish skin and fatty acids for tissue protection and regeneration.” The fish skin can be used to treat wounds, burns and other tissue damage.
The company’s leadership said in a press release that the technology’s eager adoption in the United States was one of the leading sources of growth over the last year. Though the product might sound fishy, Kerecis said in a press release there’s no risk of viral-disease transfer from Atlantic cod to human.
Kerecis said all of the fish it flays for human use are wild and caught off the coast of Iceland.
“The fish skin needs only mild processing for medical use and maintains its natural structure and elements, including Omega 3 fatty acids,” the company said. “The Kerecis fatty-acid-based products protect the body against bacterial and viral infections.”
The company announced that the funding is based on $15 million in credit from Silicon Valley Bank to fund the company’s capital needs, with investors and lenders providing $6 million in loans to finance expanding the company’s expansion plans in the United States.
Research into adapting fish skin as treatment for burns and other skin-damage has been promising, with some experimental treatment being done in Brazil.
“The main reason that we were once again named Iceland’s fastest growing company is the rapid adoption of our medical fish skin in the U.S. market,” said G. Fertram Sigurjonsson, founder and CEO of Kerecis. “We are excited that our products are preventing amputations and reducing human suffering.”
Sigurjonsson said the funding will go to accelerating development and marketing of products for wounds, burns and other medical needs, especially in the United States.
Photo via Kerecis/Facebook