Kerecis, an Icelandic medical device company, and MedStar Health have announced a partnership to begin an Investigational Device Exemption trial on burn wounds using their fish-skin product. This partnership will include a feasibility trial aimed at obtaining FDA approval for a full-fledged clinical trial in the near future. A full clinical trial will enable Kerecis to have labeled indications for their Kerecis Omega3 Burn product as a treatment for third-degree burns.
MedStar Health is a not-for-profit health system dedicated to caring for people in Maryland and the Washington, D.C. region while advancing the practice of medicine through education, innovation, and research. A significant market player in healthcare in their region, MedStar has over 30,000 associates, 6,000 affiliated physicians, 10 hospitals, ambulatory care and urgent care centers in their health system. Moreover, the MedStar Health Research Institute is recognized regionally and nationally for excellence in medical care.
The joint-feasibility trial began in November 2018 and will aim to complete at the end of 2019.
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.