Danish pharmaceutical giant Coloplast has committed to the acquisition of Kerecis, which has pioneered the use of fish skin for medical wound treatment.
Based in the fishing town of Ísafjörður in the north-west of Iceland, Kerecis has been highly successful in developing and has patented a clinically differentiated, sustainable, and scalable technology platform based on intact fish skin.
Produced with minimal processing, the fish skin retains its similarity to human skin, resulting in improved wound healing. The technology is backed by compelling evidence from multiple clinical trials and has already been used to treat tens of thousands of patients.
Since the launch of its product offering in 2016 Kerecis has become the fastest growing company in the biologics wound care segment, with DKK 510 million in revenues and reaching break-even in FY 2021/221)
The Coloplast acquisition is valued at DKK8.9 billion ($1.3 billion).
Following the expected acquisition, Kerecis expects to operate as a stand-alone business unit under its own identity and brand, with integration focused on business support and other selected areas to support the company’s strong growth outlook and continued expansion.
To date, 77% of Kerecis’ shareholders have committed to sell their shares to Coloplast. Closing of the transaction is subject to customary regulatory approvals and an acceptance threshold of at least 90%, and is anticipated in Q4 2022/23.