Kerecis, an Icelandic medical device company and pioneer in using fish skin in tissue regeneration, recently announced a $16m series C financing round. The funds will be used to increase sales and marketing in the United States and Switzerland. According to media coverage in Iceland, Emerson Collective, which was founded by Laurene Powel Jobs, is one of the new investors in the company.
In a press release, the Kerecis founder and CEO, G. Fertram Sigurjonsson stated, “Fish skin is becoming a mainstream therapy for treating severe wounds, including diabetic wounds. The funds from the Series C offering will allow us to continue our rapid growth and improve medical care for patients suffering from terrible wounds, which too often lead to amputations.”
The press release further stated that requests for participation in the investment round exceeded the shares available. This announcement follows a series of milestones throughout 2019, including the acquisition of a Swiss life-science company, approval for reimbursement in Switzerland from the Swiss healthcare authorities, and being named one of the fastest growing company in Iceland for the third year in a row.
Life science companies, such as medical device companies, incorporated in Iceland benefit from low corporate tax and encouraging financial incentives for the clinical trial R&D and commercial applications. To learn more, please visit Invest in Iceland.