Kerecis completes a $1M interim financing

Kerecis Limited, the emerging tissue-regeneration company, announced it has secured US$ 1 million in interim financing.

The US$ 1 million financing is a mixture of equity, grants and debt and is provided by a group of existing and new stakeholders.

Kerecis is a development and manufacturing business producing a novel, patent-pending tissue-regeneration material derived from fish skin to accelerate the healing of wounds and tissue reconstruction.

The company developed the MariGen and MariCell technology that is based on the utilization of fish skin across a range of medical device applications including chronic wound care and hernia repair.

Statistics show a large need for improved wound-care technologies. Each year about 6 million Americans suffer from problem wounds caused by diabetes, circulatory problems and other conditions, with 1.1 to 1.8 million new cases added each year.

More than 20 million Americans have diabetes, almost 20 percent of whom are over the age of 60. Fully 15 percent of all diabetics develop problem wounds, and more than 100,000 diabetics undergo amputation each year because of such wounds in the United States alone.